Articles
Inflated house prices wipe out Stamp Duty savings
The UK Government introduced a Stamp Duty holiday for some home buyers during the coronavirus pandemic as a way to stimulate the housing market. By reducing the land tax collected on property purchases for first-time buyers and below a set value, it was hoped that the market would be stabilised while in-person viewings were not possible.
Inflation surges to 2.1%
The rate of inflation has surged in the UK, surpassing the Bank of England’s target. By surpassing predictions, the Bank of England’s Monetary Policy Committee (MPC) may need to adjust existing strategies. Uncover the details about the surge in inflation in this short blog.
Interest rates to remain low in BoE report
The Bank of England uses the quarterly Monetary Policy Report (MPR) to project inflation rates and analyse the UK economy, which is then used by the Monetary Policy Committee to decide on the interest rate in the immediate future.
The report of the first quarter of 2021 states that the Bank of England is committed to supporting the economy during the COVID pandemic by keeping interest rates low.
The Government’s half-price property plan for first-time buyers
The Government is launching a new plan called First Homes to help first-time buyers get onto the property ladder in England. The scheme includes purpose-built properties that will be sold to first-time buyers with a discounted price from 30% to 50%.
5% mortgages: More expensive but there are still options
If you’re interested in taking up the government’s 5% deposit mortgage scheme but worried it might prove too expensive, there are some ways to reduce your costs.
