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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
Mortgage industry predictions for 2025 – Mortgage Strategy
Dec 23, 2024 · As the market closes on a somewhat turbulent year, there is cautious optimism within the industry for 2025. The Intermediary Mortgage Lenders Association (IMLA) has predicted that 2025 will see healthy lending growth, greater intermediary business and more remortgaging. In its latest report the association expects
Historical interest rates in the UK, 1979-2017: rise and fall
Mar 29, 2018 · Black Wednesday September 1992 The UK’s withdrawal from the European Exchange Rate Mechanism on 16 September 1992 meant a rise in the base interest rate from 10 per cent to 12 per cent at 10.30am on that day; later that day there was a promise from John Major’s government to raise the rate further to 15 per cent.
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
Goldman Sachs upgrades Bank rate forecast to hit 2.75% by …
Oct 21, 2024 · The Bank of England is about to begin a series of rate cuts that will lead the base rate to hit 2.75% next November, according to Goldman Sachs. The forecast is an upgrade by the US investment bank, which last month said the UK central bank would settle at a 3% interest rate by September 2025. It says that “rapidly
HSBC debuts high earner product, cuts resi rates
Jan 10, 2025 · HSBC will introduce a new fixed-rate product for high earners and launch a range of residential rate cuts on Monday. The high street bank will debut a two-year premier exclusive range with a £999 fee for most residential, purchase, remortgage and existing customers, The announcement came in a note to brokers without
Halifax introduces further advance affordability calculator
Oct 8, 2024 · Halifax has launched a further advance affordability calculator. The move comes after the lender streamlined further advance applications on its broker hub last month. It says the feature comes as a new option on its existing mortgage affordability calculator, which allows intermediaries to “quickly check the maximum
Halifax Intermediaries cuts rates by up to 33bps
Jul 31, 2024 · Halifax Intermediaries has made rate reductions across various product ranges by up to 33 basis points, effective 1 August. Remortgage products will see complete by and end dates extended as well as lowered rates. The 80% loan-to-value (LTV) five-year fixed rate has been reduced from 5.25% to 4.93% while the 80% LTV
Santander reduces fixed rates by up to 0.29% – Mortgage Strategy
Oct 3, 2024 · Santander has announced it will cut selected standard residential and all buy-to-let (BTL) fixed rates in its new business and product transfer ranges. For new business, the lender has selected standard residential fixed rates for purchases and remortgages, including green remortgage to be reduced by up to 0.29% All