From July 1st, 2021, the zero-rate stamp duty threshold was reduced from £500,000 to £250,000 then on 1st October it will revert to only £125,000, so there is little time for those purchasing properties to make some savings. Although buy-to-let property investors pay a 3% surcharge, the stamp duty holiday has created a boost in…
The current nil rate stamp duty holiday in all UK countries was due to end on 31st March 2021. It has now been extended by the government in today’s budget to 30th June 2021 in all UK countries.
The Chancellor is considering extending the stamp duty holiday by six weeks, the Daily Telegraph reports, in a move designed to prevent tens of thousands of buyers from walking away from sales and purchasers have set their hearts on. The decision to raise the threshold for paying stamp duty from £125,000 to £500,000 last July…
A recent report by Hamptons showed that there has been a record number of new incorporations set up to hold buy-to-let properties. There was a total of 41,700 buy-to-let incorporations in 2020 which is an increase of 23% compared with the previous year 2019. Hamptons estimate that around half of all buy-to-let properties are now…
Mortgage lenders are always changing their lending terms during the pandemic with some banks are now refusing to provide mortgages to self-employed workers if they took coronavirus support loans or income grants, despite the Government and Financial Conduct Authority saying the payments would not affect credit ratings. With some banks now referring applications from the…
The Financial Conduct Authority (FCA) will today offer greater details of an extension to the mortgage holiday scheme, with the initiative set to have expired on Saturday but extended due to the national lockdown announced for England. The FCA has already said that those who have yet to apply for a mortgage holiday can request…
The current alert level is ‘medium’, however as this week’s figures show, cases of COVID-19 are increasing quickly in the city. This indicates that Southampton is following the trends seen in other parts of the country and at the current rate we are likely to move from the ‘medium’ to the ‘high’ alert level in…
Holiday lets have become a popular choice for landlord clients in recent years and following the Covid-19 pandemic, the demand for UK staycations is soaring. The rise in Brits holidaying at home in the UK and improved rental demand has led to lenders returning to this niche buy-to-let sector. Sourcing holiday let mortgages is slightly…
Last week we uploaded lots of useful Brexit resources to (www.xebraaccounting.co.uk/brexit) that will help you manage the change and impact of Brexit as smoothly as possible – This includes preparing for the end of the transition period, VAT changes, Customs Declaration preparation and travelling to the EU. Brexit looms with even more uncertainty and with…
The rise of Holiday Let Mortgages The increasing number of Britons now holidaying in the U.K. as a result of Covid-19 is creating the perfect environment for the now thriving holiday rental market – and real demand for Holiday Let mortgages, which we be please to help you with. Many of the Building Societies provides…
