Tag: stamp duty

Hometrack reports increase in house prices

Hometrack reports increase in house prices

House prices increased by 0.2 per cent across the UK in March, according to property analytics business Hometrack, representing the first price rise in 20 months. The increase was helped by increased demand from first time buyers, a scarcity of homes on the market and strong interest in properties in London from overseas buyers. First […]

April 2, 2012 More
Land Registry reports fall in multi-million home sales

Land Registry reports fall in multi-million home sales

The number of A?2m-plus homes sold in England and Wales fell to 103 in December 2011, 18 per cent lower than the figure for December 2010. Eighty of the A?2m-plus properties sold during the month were located in London, where prices have been rising faster than in other parts of the UK. The most popular […]

March 23, 2012 More
Stamp duty rush causes rents to fall

Stamp duty rush causes rents to fall

Rents on private accommodation fell by 0.6 per cent last month, to an average of A?707, according to the latest Buy-to-Let Index from LSL, a provider of residential property services. The agency suggests that the fall is likely to be temporary as it is related to an increase in the number of tenants deciding to […]

March 16, 2012 More
Mortgage lending 12% lower in January

Mortgage lending 12% lower in January

Gross mortgage lending fell to A?10.5bn in January, 12 per cent lower than the total for December. However the figures represent a year-on-year increase of 10 per cent, the Council of Mortgage Lenders (CML) said. January was the sixth consecutive month of higher lending compared with the previous year. Home loan approvals also increased in […]

February 20, 2012 More
House move costs soar by 69%

House move costs soar by 69%

The cost of moving house is 69 per cent higher than it was in 2001, according to Lloyds TSB, with estate agency fees, mortgage fees and stamp duty responsible for most of the increase. A typical house move cost nearly A?9,000 in 2011, A?3,632 more than it did a decade ago. Some regions have experienced […]

January 27, 2012 More
HSBC to lend A?15bn in mortgages this year

HSBC to lend A?15bn in mortgages this year

HSBC has announced plans to lend more than A?15 billion in mortgages this year, with A?3m of this ring-fenced for first-time buyers. This should provide mortgages for up to 150,000 home buyers during 2012, including 27,000 people buying their first home. The sum amounts to 11 per cent of all the mortgage borrowing predicted for […]

January 20, 2012 More
Chancellor announces end of stamp duty concession

Chancellor announces end of stamp duty concession

In a move that could cause sales of first-time buyer properties to rise sharply early next year, the current exemption on stamp duty will not be extended as hoped. In his Autumn Statement yesterday, the Chancellor said that this concession has proved ineffective in increasing the number of first time buyers entering the market, therefore […]

November 30, 2011 More
Nationwide reports increase in house prices

Nationwide reports increase in house prices

The latest house price figures from Nationwide Building Society contradict yesterdaya��s news from the Land Registry that house prices have fallen over the past year. Nationwide today said that house prices are a�?surprisingly resilienta�� with Novembera��s figures showing a year-on-year increase of 1.6%. In contrast the latest Land Registry figures showed a 3.2 per cent […]

November 29, 2011 More
CML: Mortgage lending dips in December

CML: Mortgage lending dips in December

The Council of Mortgage Lenders (CML) has today reported mortgage lending remained weak in December. However, the month is traditionally a quiet one as prospective buyers opt to wait until the New Year to purchase a home. The number of loans approved for those buying a new home stood at 39,000 during the month a�� […]

February 11, 2011 More
CML: Mortgage lending down 18% on year in December

CML: Mortgage lending down 18% on year in December

The Council of Mortgage Lenders (CML) has today reported mortgage lending remained weak in December. Mortgage lending fell by 6% in December compared with November, said the Council. According to the CML, mortgage lending totalled A?11 billion – this was 18% lower compared with December 2009 – when buyers were rushing to beat the end […]

January 21, 2011 More
CML provides assessment for housing market in 2011

CML provides assessment for housing market in 2011

The Council of Mortgage Lenders (CML) is predicting that the housing market will remain subdued in 2011, due to uncertainty surrounding the economy and the ongoing mortgage rationing by lenders. Over recent times, demand has been weak as many buyers have adopted a a�?wait and seea�? approach as uncertainty continues to surround the economy and […]

December 15, 2010 More
IMF warns of further correction in UK housing market

IMF warns of further correction in UK housing market

The International Monetary Fund (IMF) has suggested the UK property market could experience a double dip. In its latest World Economic Outlook, the IMF highlighted that despite Government efforts to boost the housing market and encourage first-time buyers, UK house prices could still be in line for a�?further correctiona�?. The IMF was referring to the […]

October 7, 2010 More
Official figures show February rise in house sales

Official figures show February rise in house sales

UK house sales rose in February, according to HM Revenue & Customs. The month saw 58,000 transactions completed on properties worth over A?40,000, up 14% from January. The total fell well below December’s tally of 103,000, when sales activity clustered as the end of the stamp duty holiday loomed, but showed a significant improvement on […]

Chancellor unveils Budget 2010

Chancellor unveils Budget 2010

The Pre-Election Budget has been delivered today by Chancellor Alistair Darling with items such as stamp duty changes confirmed. The Chancellor said stamp duty will be abolished on house purchases up to A?250,000. The change, which will apply this year and next year, means 90% of first-time buyers will not pay the duty. Furthermore, Mr […]

Alistair Darling set to deliver Budget today

Alistair Darling set to deliver Budget today

The Pre-Election Budget will be delivered today by Chancellor Alistair Darling but he has repeatedly said there will be no “giveaways” ahead of the general election. What we can expect to see, though, are more details of how the Government expects to trim the budget deficit. Mr Darling has previously pledged to halve the budget […]

Stamp duty should be “staggered”, expert claims

Stamp duty should be “staggered”, expert claims

Banks would be encouraged to lend more easily to home buyers if stamp duty was changed to work like income tax, a mortgage expert has claimed. Catherine Hearnden, director of MyMortgageDirect, said stamp duty should be calculated relative to the house being purchased. “I think it should work like income tax, where it is staggered […]

Regional response to end of stamp duty holiday

Regional response to end of stamp duty holiday

With the stamp duty holiday due to end on 31st December, the Royal Institution of Chartered Surveyors (RICS) is warning that a return to the previous structure of the tax could have a detrimental affect on the UK’s fragile property market. According to the body, regions that are already lagging behind in the recovery will […]

Mortgage lending holds up in September

Mortgage lending holds up in September

Latest figures from the Council of Mortgage Lenders (CML) show that in September, one third of first-time buyers benefited from the current stamp duty holiday. There were 6,200 first-time buyer loans for properties priced between the old starting rate of A?125,000 and the temporary threshold of A?175,000, representing 32% of 19,700 first-time buyer loans approved. […]

Stamp duty holiday comforts 31% of homebuyers

Stamp duty holiday comforts 31% of homebuyers

With the stamp duty holiday for purchasers of properties worth up to A?175,000 coming to an end in December, Halifax has calculated that 31% of homebuyers in England and Wales have benefited from the concession. In September of last year the Government raised the threshold at which 1% stamp duty is paid from A?125,000 to […]

Dragons’ Den entrepreneur to kick-start UK property market

Dragons’ Den entrepreneur to kick-start UK property market

Entrepreneur, James Caan, has launched an attempt to kick-start the UK property market in conjunction with property portal, Look4AProperty.com. Look4AProperty Money is offering interest-free loans to cover costs such as stamp duty and legal fees, with access to the scheme through a UK-wide network of selected estate agents. According to Mr Caan, who is best […]