Warning!!!! Stamp Duty increase on the agenda

The new higher rate of stamp duty for homeowners with more than one property is due to bite in April 2016. Questions have flooded into Telegraph Money’s mail bag about how the tax rise will work in practice ever since it was announced in the Autumn Statement. The rules on who will be affected have still not been finalized but the Treasury has published a consultation paper that sheds more light and calls for further suggestions for how the extra tax should apply. Here we provide answers to some of the common read more

A new cloud-based credit scoring service has launched in UK, aiming to improve loan quality and acceptance rates through the use of big data. Founded in Scandinavia three years ago, Big Data Scoring enables banks and financial institutions to determine the creditworthiness of individuals based on data available online. The firm says it aims to bring lending into the digital information age, allowing lenders to make informed and more responsible credit decisions, particularly concerning millennials and non-UK read more


Self Cert mortgage. So close yet so vary FAR

Self-certification mortgage lender selfcert.co.uk has ceased taking new applications until further notice. A message on the lenders website said that "this will be at least 3 months" as it works through a 'severe backlog' of people that have registered an interest in the read more


Bank of England governor Mark Carney has said now is ‘not yet the time’ to increase interest rates, leaving the base rate at the historically low 0.5% for the foreseeable future. Last summer, Carney (pictured) said the decision to raise the Bank rate would ‘come into sharper turn at the end of this year’ but today said there was no current need to tighten monetary policy. In a speech at Queen Mary University in London, Carney said this was due to a collapse in oil prices, the instability of the Chinese market read more

Who’s afraid of the BIG BAD MORTGAGE WOLF

Interest rate rise on the cards! Terrible news for homeowners! A whole generation of mortgage borrowers who have never seen a rate rise are in for a shock. When they can't afford it, spending will be slashed. The slowdown will get worse. The economy will tank! That, at least, is the scary story. And here's why it seems like it may be true. The US central bank, the Federal Reserve, raised official interest rates from their post-crisis low last month, the first rise in nearly a decade. Historically, the UK read more