Aaron Tawny :: Independent Financial Advice :: Mortgages

First-time buyer rules

Matthew Barrand Blog, Mortgages

Anyone buying their first home from July 1, 2021, can get stamp duty relief at the same level as that before July 8, 2020. This is a discount to help first-time buyers get on the property ladder. This means you’ll pay: • Property purchase price up to £300,000 – zero per cent stamp duty • The portion from £300,001 to …

The stamp duty holiday is ending in March!!

Matthew Barrand Mortgages, Property

With the introduction of the stamp duty holiday, the property market is booming, with sales in October up 52 per cent on last year, but property surveyors, mortgage lenders, conveyancing lawyers and local authorities are all now buckling under the sheer weight of demand. The current stamp duty holiday runs until 31st March 2021, so any house purchase will need …

Extra time forHelp to Buy scheme

Extra time for Help to Buy scheme

Matthew Barrand Mortgages

Due to construction delays caused by the pandemic, over the summer the government announced an extension to the Help to Buy equity loan deadline. Previously, new homes had to be finished by the end of December 2020, which has been extended to 28 February 2021, enabling homebuyers to benefit from the scheme despite the construction of their new homes being …

Stamp Duty Update

Stamp duty update

Matthew Barrand Blog, Mortgages

The government introduced an immediate temporary Stamp Duty Land Tax (SDLT) holiday in England and Northern Ireland until 31 March 2021 by raising the threshold above which the main rate of SDLT is payable from £125,000 to £500,000. For second homes, the 3% additional rate will continue to apply. The Scottish Government has since announced that they have increased the …

First Time buyers

Government launches scheme to help First-Time Buyers

Matthew Barrand Mortgages

The Government has announced plans to proceed with the First Homes scheme aimed at helping more First-Time Buyers to step onto the property ladder. The scheme will lower deposit and mortgage requirements for local First-Time Buyers in England – with the discount applying to a proportion of the new home. The average price of a newly-built home in England is …

Live chat mortgage

You can now chat to us online

Matthew Barrand A Tawny, Mortgages

We have recently launched a live chat facility on our website, meaning you can now contact us online! It will be available during office hours, and you can chat to one of our Mortgage & Protection Advisers directly. So, if you have any questions or queries relating to mortgages or protection, and you would prefer to contact to us online, …

Continuing changes to Buy to Let taxation

Matthew Barrand Mortgages

The changes to how rental income from buy to let  properties continues to evolve and has moved into its next phase. Entry into a new tax year has prompted several  questions from clients, so we thought it would be  wise to recap on how you may be affected. As advised in previous newsletters, the deduction of  finance costs, including mortgage …

UK interest rate rises for the first time in more than a decade

Shaun Love Interest Rate, Mortgages

For the first time in more than 10 years the Bank of England has raised interest rates. The official bank rate has been lifted from 0.25% to 0.5%, the first increase since July 2007.  The Bank cautioned that any future increases would be gradual and limited, but added that it stood ready to respond to changes in the economic outlook. …

Are you paying too much for your mortgage?

Shaun Love Mortgages

A recent survey conducted shows big differences between how different generations handle their mortgage affairs. Homeowners aged between 19-34 were more likely to hold a repayment mortgage (92%) than their over 55 counterparts (68%). Being on a repayment mortgage means that the size of the 19-34’s mortgage is gradually decreasing whereas 32% of over 55’s are only paying interest from …

First Time Buyers: Getting on to the property ladder

Shaun Love Mortgages

House prices have been increasing month on month for some time now, which has only increased the challenges that now face First Time buyers up and down the country. Whether it be struggling to build a deposit, or having sufficient income to pass affordability checks, which could be about to become harder following recent Bank of England announcements, First Time …