Budget 2024: OBR lifts forecast for mortgage rates and house prices
Oct 30, 2024 · The Office for Budget Responsibility has increased forecasts for both house prices and future mortgage rates compared to its March predictions. In its latest Economic and Fiscal Outlook, published today, the independent body says it expects average interest rates on outstanding mortgages to rise from around 3.7 per
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Mortgage lending set to rise 11% in 2025: UK Finance
Dec 16, 2024 · Mortgage lending will grow by 11% next year to reach £260bn driven in part by a large increase in remortgaging, UK Finance forecasts. The banking trade body expects gross lending for 2024 to be £235bn when the final numbers are counted, marking an increase of 4% on last year’s total. Within the full-year estimates
Budget 2024: Stamp duty on second homes rises to 5%
Oct 30, 2024 · Chancellor Rachel Reeves has increased the stamp duty surcharge on second homes and investment properties from 3% to 5%, effective from tomorrow. Announced in today’s Autumn Budget, Reeves stated: "In our manifesto we committed to reforming stamp duty land tax to raise revenue while supporting those buying their
Reeves to ditch lower stamp duty thresholds for FTBs: Report
Oct 18, 2024 · The chancellor is set to scrap the lower stamp duty threshold for first-time buyers set out in the Liz Truss mini-Budget. Rachel Reeves is expected to lay out the policy in her 30 October Budget, which will cost housebuyers up to £2,500, according to a report in the Times.. She will confirm that the government will not extend the increase to the threshold, which will end next March, at which ...
NatWest’s sub-4% direct deal frustrates brokers
Aug 6, 2024 · NatWest has launched a sub-4% mortgage deal that is only available to direct customers in a move that has frustrated brokers. It is offering an online-only five-year fixed rate at 3.97% up to 60% LTV with a £1,495 fee. The equivalent deal via NatWest for Intermediaries is 6 basis points higher at 4.03% with the same
Resi mortgage values up in Q3 but new mortgage commitments …
Dec 10, 2024 · The outstanding value of all residential mortgage loans increased by 0.6% from the previous quarter to £1,670.9bn, the highest stock of outstanding mortgage loans since 2023 Q1, and was 0.8% higher than a year earlier. This is according to the Bank of England’s Mortgage Lenders and Administrators Statistics for Q3,
Comment: Later life goes mainstream – Mortgage Strategy
Jan 3, 2025 · Lifetime mortgages, once viewed as rigid, long-term commitments, have undergone a transformation, with 2024 marking a pivotal year for flexibility in later-life lending. For many would-be later-life clients, the idea of being ‘locked in’ to a financial product has felt daunting. However, evolving product criteria,
House prices forecasted to rise 3% in 2025: Hamptons
Nov 11, 2024 · House prices will rise by 3% across the UK in 2025, followed by 3.5% in 2026 and 2.5% in 2027 as the affordability picture improves. This is according to the latest data from estate agent Hamptons which says 2025 will mark the beginning of a new property market cycle. The agent suggests that like the market
News analysis: Reflections and aspirations – Mortgage Strategy
Dec 20, 2023 · As 2023 draws to a close and we begin to reflect on the past 12 months, some look back more fondly than others. It certainly wasn’t an easy year for the mortgage market but, as we look forward to a new year, industry commentators share their thoughts on what has passed and their hopes for the future. Paul