Consumers were rushing to purchase properties before the new stamp duty laws go into effect. Stamp duty rates have risen from 5% to 7% for properties valued over £2 million. The government also ended the stamp duty holiday introduced in 2010. The stamp duty holiday enabled first time buyers to be exempt from stamp duty for first time purchases up to £250,000.
The Council of Mortgage Lenders confirmed that mortgage lending was up at the end of March to £13.4 billions up 17% from March last year. The chief economist of CML Bob Pannell siad he would not be surprised if mortage lending dropped sharply over the next few months due to the end of the stamp duty holiday.
Banks are becoming much stricter in their lending demands. This is due to the difficult economic crisis and previous bad lending by banks. The next few months will probably see a reduction in the number of Mortgage Loans., and Homeowner Loans will be monitoring the situation closely.
Homeowner Loans offer a Secured Loan from £5000 up to £250,000. Apply in 2 minutes, and they will find you the best homeowner lender on the market.
You can visit their site at www.home-owner-loans.org.uk
Walang komento:
Mag-post ng isang Komento