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Mar 30
First time buyers are to be given a boost onto the property ladder thanks to yet another ‘scrappage scheme’, this time on Stamp Duty for homes costing less than £250,000.
The new threshold, which will be funded by an increase in Stamp Duty to 5% on homes costing £1million plus, commenced on 25 March 2010 and will run for two years. (more…)
Mar 29
With the prospect of a hung parliament threatening to swell the cost of new mortgages, borrowers are being advised to fix their loans.
Due to doubt over a clear majority, which affects investor confidence, the cost of wholesale mortgage funding which is linked to government bonds, has increased. (more…)
Mar 28
Bank of England figures show homeowners securing a new mortgage are enjoying the lowest interest rates for six years.
As at February 2010, a two year fixed rate deal stood at 3.88% on average; a drop from January’s 3.97% and hitting the lowest level since July 2003. (more…)
