Anthony Argent

28/02/2025

Another great outcome for a client!

28/02/2025

I would like to share a wonderful outcome for one of my client's last night. I submitted a mortgage application at 7pm and the formal mortgage offer was produced within half an hour! That was definitely the quickest in my career. My client was absolutely over the moon.

14/02/2025

Stamp Duty rates are going back up on 1 April

Have first-time buyers left it too late to pay lower Stamp Duty? It would appear so.

At present, first-time buyers pay no Stamp Duty when buying a home worth £425,000. However, from 1 April, Stamp Duty thresholds will return to pre-2022 levels, meaning the tax-free threshold for first-time buyers drops from £425,000 to £300,000, resulting in sharply higher costs. From 1 April, buying a home worth £425,000 will now cost first-timers £6,250 in stamp duty.

The new thresholds being introduced include reducing ‘first-time buyers’ relief’ – which lets buyers pay Stamp Duty at a reduced rate – which will be revised from the current £625,000 level back to the pre-2022 level of £500,000. This means the Stamp Duty a first-time buyer can expect to pay on a £625,000 home will rise from £10,000 at present to £21,250, an increase of £11,250.

Is there still time to complete before the increase?
Any first-time buyers hoping to complete their house purchase before the rises are cutting it close. The average time it takes to complete a house purchase is between 12 and 16 weeks and often takes longer. First-time buyers currently in the process of completing a house purchase should therefore consider making plans to pay Stamp Duty at the higher amount if their completion date is later than 31 March.

12/02/2025

11/02/2025

What’s on the horizon for UK mortgage rates?

UK mortgage rates in the spotlight as economic factors suggest rates could rise again.

Hopes that the Bank of England would significantly lower interest rates in 2025, leading to cheaper mortgages, now seem less likely, thanks to global bond market sell-offs and Labour’s Budget leading to a surge in borrowing costs. These factors have unsettled debt markets and contributed to higher interest rate expectations. As a result, borrowers face a more uncertain outlook.

As a reminder, the Bank of England opted to hold Bank Rate at 4.75% in December. However, since then, a sharp increase in UK government bond (gilt) yields has pressured rates. Market predictions suggest Bank Rate could fall to 4% by the end of 2025, with some analysts anticipating cuts to as low as 2.75%. However, the volatility in the bond market makes those predictions look optimistic.

What can borrowers do?
With bond market volatility set to continue, borrowers should seek professional financial advice before making any decisions. A financial adviser can help navigate the complexities of rate changes and determine whether to fix a mortgage deal or wait for lower rates in future.

Your home may be repossessed if you do not keep up repayments on your mortgage

06/02/2025

Some great news for the mortgage market today!

The base rate has been cut to 4.5% from 4.75% by the Bank of England. Martin Lewis' MoneySavingExpert.com explains what this means for your money.

04/02/2025

Some lovely feedback from 2 of my client's recently.

07/11/2024

Great news for the mortgage market this afternoon with the BOE reducing the base rate to 4.75%

The Bank of England’s Monetary Policy Committee (MPC) has voted to cut the base rate to 4.75%, as many experts predicted.