30 Oct 2024
2024 Autumn Budget: Housing
On 30th October 2024 the Chancellor, Rachel Reeves delivered the Autumn budget which we had previously been warned would be “difficult”. Below we have summarised the main housing points.
House Building
The chancellor advised that the government will invest more than £5bn to deliver their housing plan. She confirmed that they will increase their Affordable Homes Programme to £3.1bn, provide £3bn worth of support and promises to increase the number of homes and support small housebuilders. The right to buy discount will also be reduced and local authorities will be able to retain more money from sales.
Stamp Duty
The chancellor has confirmed that first time buyers will continue being exempt from paying stamp duty on properties up to £425,000, this is set to be reduced to £300,000 from the 1st April 2025.
Targeting landlords and those with second properties, the chancellor revealed that second-home buyers will have to pay an additional 2% stamp duty from the 31st of October 2024.
Cladding
The government will give £1bn to fast-track the removal of dangerous cladding on homes following the Grenfell Tower incident.
Recent posts
Autumn Budget 2025: A Summary
5 days ago
Chancellor, Rachel Reeves, has delivered the Autumn 2025 budget. We have summarised the government's plans for tax and spending.
Best UK Mortgage Rates this Week
5 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Renters' Rights Act
17 days ago
The Renter’s Rights Bill became law at the end of October, which means it has been signed off by the King, and it is now the Renters’ Rights Act. Despite this becoming law, these changes are likely to start changing within the next six months, with the aim of being fully implemented throughout 2026 and into 2027.
Mortgages and budgeting to be taught in schools
24 days ago
A welcome change in school is coming as financial literacy is due to become compulsory in schools in England.
The Government has announced that as part of the new national curriculum, children in primary and secondary education will be required to learn about budgeting, compound interest, managing money, and mortgages.
The top 10 most beautiful villages in the world
24 Oct 2025
Forbes has published a global ranking of stunning locations and one popular picturesque corner of the UK has nabbed top spot.
Over three years after the Mini-Budget took place, we look at what the mortgage market looks like now, showing the difference in mortgage repayments.
The government has announced plans to make buying or selling a home cheaper and quicker with what is being called the “biggest shake-up to the homebuying system in this country’s history.”
More borrowers using equity release
1 Oct 2025
Almost one in five equity release mortgages are now taken out to provide financial support to family.
More information
Trusted by
