Monthly Archives: January 2012

Leeds Building Society have launched a two-year discount mortgage at 5.25% which is available up to 95% loan-to-value.

They have also launched a two-year discount 4.35% available up to 90% loan to value and a new two-year variable rate mortgage at a current rate of 5.89% up to 95% loan to value.

Eight weeks remain for first time buyers to complete their house purchases in order to avoid paying stamp duty land tax. The tax exemption will end on the 24th March 2012.

Stamp duty land tax will then be charged at 1% on all purchases between £125,000 and £250,000.

Don’t assume that “no news is good news” Please ensure you have returned and signed all your documentation to your Solicitor to ensure that they can complete the transaction before the 24th March 2012.

This is a tax charged on the purchase of a property and the amount of tax payable is dependent of the purchase price.

Property Purchase Price
£0 – £125,000 = 0%
£125,001 – £250,000 = 1%
£250,001 – £500,000 = 3%
£500,001 – £1 million = 4%
£1 million + = 5%

First time buyers
The first time buyer’s £250,000 threshold applies from 25 March 2010 up to 24 March 2012 inclusive.

There is no indication that this incentive will be extended.

Kevin has been nothing short of superb. As first time buyers we were naturally unsure of what we were doing at times, but his advice and reassurance has been exactly what we needed. He explained everything clearly and made sure we were both comfortable with our choices. I can’t recommend him highly enough – thanks Kev!

Louise and Tim were very helpful and efficient in obtaining the information required and getting the mortgage application submitted and agreed quickly.

HSBC has decided to restrict the number of conveyancers it uses to transact its mortgages.

The panel will consist of 42 firms, however customers will be free to use their own solicitor, although HSBC will still instruct a firm from the panel for its own legal work if they do so Customers will therefore be offered an incentive to use a solicitor from the panel.

HSBC only deal with customers directly, therefore using a local mortgage adviser to research the market and consider all your options and associated costs could save you money and save you trying to deal with two solicitors.

For impartial advice on mortgage products for purchase or remortgage direct deals or advised products, please give us a call on 01489 580020 or email your enquiry to

The Bank of England’s Monetary Policy Committee. Hold UK interest rates at their record low of 0.5%

Interest rates have not increased since March 2009.

Consumer prices inflation (CPI) peaked in September at 5.2% – more than double the Bank’s 2% target – and has since fallen to 4.8% in November.