507 buy-to-let deals were withdrawn on Tuesday
Some 507 buy-to-let products were pulled off the shelves on Tuesday as cost of funding spiked following the Chancellor’s mini-budget on Friday, Moneyfacts data shows.
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Pantheon: Bank will not hike base rate all the way to 6%
Research consultancy Pantheon Macroeconomics reckons the Bank of England’s actions means it won’t increase the base rate all the way to the 6% level currently priced in by the financial markets.
Higher mortgage rates to reduce buyer competition
Some 28% more people won’t be able to afford to buy property if mortgage rates reach 5% by the end of the year, Zoopla…
The Mortgage Works withdraws fixed rate mortgages
The Mortgage Works, the buy-to-let branch of Nationwide Building Society, has withdrawn its range of fixed rate buy-to-let mortgages in response to the dysfunctional funding markets.
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Wales ups Land Transaction Tax threshold – and slams the UK government
Wales has increased the Land Transaction Tax (stamp duty equivalent) threshold in the country from £180,000 to £225,000, meaning anyone buying a property less than that amount won’t pay any tax.
Nationwide confirms steep mortgage rate hikes
Nationwide Building Society has increased its 3, 5 and 10-year fixed rates by between 0.90% and 1.20%. The markets are now predicting a steep…
Propertymark: Be ready for Right to Rent changes
Propertymark is reminding agents to be ready for significant changes to the way they carry out Right to Rent checks from 1 October 2022.
Lenders pull mortgage products after “irresponsible” mini-budget
Brokers are reporting nervous behaviours from lenders, who they say are rapidly repricing rates, pulling products, and finding reasons to fail cases.
Bank of England vows to hike interest rates “as much as needed” after pound falls
The Bank of England has issued a statement saying it’s prepared to decisively raise interest rates to boost the value of sterling and curb inflation.
Stamp duty cuts to boost property sales by 26%
Last week’s cuts to stamp duty could help boost the number of property transactions seen across the property market by 26%, estate and lettings agent Barrows and Forrester has predicted.
