As the Stamp Duty holiday deadline of March 31st approaches, new research from mortgage broker Mojo Mortgages reveals eye-opening insights for first-time buyers in London. Mojo Mortgages have analysed the average house price in every Greater London borough before calculating the current Stamp Duty cost today and comparing it to the predicted Stamp Duty […]
The Spring Budget 2025 is on the horizon (26th March), and with it comes the potential for changes that could significantly impact the mortgage market. Fee-free mortgage broker Mojo Mortgages has carefully assessed the possible scenarios and their implications for homeowners and aspiring first-time buyers before transforming this insight into a guide: How […]
From April 1st, significant changes to Stamp Duty Land Tax (SDLT) will take effect, particularly impacting first-time buyers. The nil-rate threshold for first-time buyers will decrease from £425,000 to £300,000, with a 5% rate applying to properties priced between £300,001 and £500,000. Additionally, the maximum property value eligible for first-time […]
With the stamp duty increase kicking in from April, homebuyers across the nation are keen to complete in order to make a saving, presenting sellers with an opportunity to take advantage of increased market demand, whilst potentially securing a higher asking price for their home, not to mention saving on […]
Last week’s Autumn Budget included an unexpected 2% increase in the UK’s second home surcharge, raising it from 3% to 5%. The Chancellor latest step will discourage second home ownership, aiming to create more opportunities for prospective homeowners. Another stamp duty change from the Labour government – the end of the temporary nil rate increase […]
The abolition of Multiple Dwellings Relief (MDR) following Chancellor Jeremy Hunt’s Spring Budget, has brought into sharp focus the additional costs for investors when they purchase multiple properties in the UK. Property buyers now have to pay an increased amount of tax, with investors now having to purchase six or […]
Stamp Duty Land Tax (SDLT) is levied on property purchases in England and Northern Ireland, with thresholds determining the amount owed. Properties priced up to £250,000 (or £425,000 for first-time buyers) incur no SDLT, while rates of 5% apply to main residences priced between £250,001 and £925,000, and 8% for […]
The previous year will go down as one of the most unique on record for the property market, claims David Hannah, Group Chairman of Cornerstone Tax, the UK’s leading property tax advisory. 2023 has been a year defined by extremes, the fall-out from the Bank of England’s (BoE) fourteen consecutive […]
The chancellor Kwasi Kwarteng announced plans to cut stamp duty in the government’s mini-budget today in order to aid economic growth. The cut in stamp duty is intended to allow more people to move homes and provide first-time buyers with a better chance to get on the property market. The […]
It is expected that Liz Truss will announce plans to cut stamp duty in the government’s mini-budget this Friday to aid economic growth. The new prime minister hopes that by cutting stamp duty, more people will be able to move homes and provide first-time buyers with a better chance to […]
