16th December 2021
Bank of England Base Rate Increase
On Thursday 16th December 2021, the Bank of England has announced an increase to it's base rate from 0.10% to 0.25%. If you have a fixed rate mortgage, you won't experience any changes to your rate or monthly repayment. If you have a tracker rate or are on your lender's Standard Variable Rate (SVR), you will experience an increase to your rate and monthly repayment. Your lender will contact you in due course to confirm your new monthly repayment.
19th April 2021
Low deposit mortgage scheme launched
To boost the housing market further and the economy, High Street lenders are now offering mortgages to borrowers with a 5% deposit. This comes as part of a mortgage guarantee scheme offered by the Government.
The scheme is available to first-time buyers and home movers purchasing a property up to £600,000. Second homes or buy-to-let properties are not included as part of this scheme. Some lenders, including Halifax, Barclays and NatWest will not include new build properties under this scheme.
Acceptance of the mortgage will be subject to affordability checks and the lender's full underwriting process.
31st March 2021
Stamp Duty payment holiday extended until 30th June 2021
The current 0% stamp duty threshold has been extended from 31st March to 30th June 2021. For any first-time buyer or home mover completing on a property purchase, up to £500,000, prior to 30th June 2021, will benefit from the 0% stamp duty incentive. Buy-to-let properties, second and additional property purchases will not be included and the appropriate stamp duty will remain.
From 01st July 2021, the 0% stamp duty threshold will be reduced from £500,000 to £250,000 for a period of three months (ending on 30th September 2021). From 01st October 2021, the 0% stamp duty threshold will return to £125,000 (or £300,000 for first-time buyers).
25th February 2021
I am so excited to announce that from 25th February 2021, I will belong to a new Network, Julian Harris Mortgages Limited. The comprehensive service I provide to clients will not change but you will notice changes to my paperwork, including the logo for 'Julian Harris' and'Julian Harris Mortgages Limited'.
Your home may be repossessed if you do not keep up repayments on your mortgage
The Financial Conduct Authority does not regulate on Buy-to-Let mortgages