Tag: stamp duty holiday

Mortgage lending 24% higher in May

Mortgage lending 24% higher in May

Mortgage lending increased by 24 per cent to £12.2 billion in May, after a fall in April, according to the Council of Mortgage Lenders (CML). The figure was 13 per cent higher than a year ago. However, when the effect of the end of the stamp duty holiday on first-time buyer properties is excluded, the [...]

June 22, 2012 | 0 Comments More
Property prices up 5% in March

Property prices up 5% in March

UK house prices increased by £3,687 to £236,939 in March, a 4.9 per cent increase compared with the 2011 first quarter. The figures, from Rightmove’s house price index, represent the largest first-quarter rise in property prices since 2004, boosting hopes for an continued improvement in the market for the rest of the year. In London, [...]

March 20, 2012 | 2 Comments More
UK property market improves

UK property market improves

Signs are emerging that the UK property market is slowly starting to improve. According to the latest figures from The Royal Institution of Chartered Surveyors (RICS), the number of house sales increased in January, helped by first-time buyers rushing to secure a purchase before the end of the stamp duty exemption on homes under £250,000. [...]

March 13, 2012 | 0 Comments More
Offset mortgages recommended to first time buyers

Offset mortgages recommended to first time buyers

Paula John, the editor-in-chief of Your Mortgage magazine, has advised first-time-buyers to consider paying for their home through an offset mortgage. Offset mortgages are “the way forward” she said, suggesting they are “the most tax-efficient way of using any excess income”. However offset mortgages are only suitable for potential house buyers who have a significant [...]

February 13, 2012 | 0 Comments More
New Year usher in 17% fall in new mortgage approvals

New Year usher in 17% fall in new mortgage approvals

In a round-up of January mortgage lending, Bank of England figures show approvals for house purchases falling 17%, compared to a month earlier. However, the month-on-month decline takes into account the end of the stamp duty holiday, which resulted in transactions being pushed through in time for December completions, and winter weather conditions that would [...]

March 1, 2010 | 0 Comments More
Mortgage lending plummets in January

Mortgage lending plummets in January

Gross mortgage lending plummeted in January, adversely affected by the end of the stamp duty holiday. The Council of Mortgage Lenders (CML) puts the gross figure at £9.1 billion, down 32% from £13.4 billion in December and 21% year-on-year. While a decline is typically experienced between December and January, advances were at their lowest since [...]

February 18, 2010 | 0 Comments More
First-time buyer loans hit two-year high

First-time buyer loans hit two-year high

First-time buyer mortgage approvals hit a two-year high in December as those buying properties costing up to £175,000 rushed their purchases through before the end of the stamp duty holiday. According to the Council of Mortgage Lenders (CML), 24,900 first-time buyer loans were sanctioned worth £2.9 billion, leaving both figures up 26% on November. In [...]

February 13, 2010 | 0 Comments More
First-time buyers withdraw as stamp duty threshold reverts

First-time buyers withdraw as stamp duty threshold reverts

First-time buyers were in short supply during November, according to the National Association of Estate Agents (NAEA). Figures from the body show only 19% of house sales involved those getting a foot on the property ladder, a substantial drop from a May peak of 45%. The proportion is also at its lowest since December 2008, [...]

December 18, 2009 | 0 Comments More
No extension to stamp duty holiday

No extension to stamp duty holiday

The Chancellor of the Exchequer has chosen not to extend the stamp duty holiday, which comes to an end on 31st December, despite hopes that the UK’s housing market would be buoyed by a further concession on the tax. From 1st January, the duty becomes payable at 1% on properties worth between £125,000 and £175,000, [...]

December 10, 2009 | 0 Comments More
Stamp duty holiday helps fewer than intended

Stamp duty holiday helps fewer than intended

As commentators on the UK property market mull over the impact of the end of the stamp duty holiday, Zoopla.co.uk is claiming that far fewer home buyers have benefited from the concession than the Government intended. The threshold on the duty was raised from £125,000 to £175,000 in September 2008 and is due to revert [...]

November 22, 2009 | 0 Comments More
Estate agents call for extension of stamp duty holiday

Estate agents call for extension of stamp duty holiday

The National Association of Estate Agents (NAEA) is calling on the Government to extend the stamp duty holiday on properties worth up to £175,000. The threshold at which one per cent stamp duty is paid was raised from £125,000 to £175,000 in September of last year, creating an opportunity for homebuyers to save up to [...]

October 8, 2009 | 0 Comments More