The UK’s chancellor, Rachel Reeves, will deliver the Labour government’s autumn budget at the end of the month, we take a look at what could be announced in relation to housing.
Stamp Duty
The stamp duty rates announced in the mini-budget in September 2022 were to remain until 31st March 2025. Labour confirmed prior to the election that if it formed the next government the first time buyer stamp duty exemption threshold would go back to £300,000 – this was raised to £425,000 from September 2022.
Reeves has said that in the upcoming budget, there may be other changes to stamp duty.
Freedom to Buy
Labour’s housing policy is the Freedom to Buy scheme. They have pledged to help 80,000 people get onto the property ladder over the next five years by permanently extending the mortgage guarantee scheme, which is due to expire in June 2025.
Council Tax Adjustments
There have been suggestions that Labour could introduce a flat-rate council tax system based on the value of the property instead of the current banding system currently in place. This could mean more expensive bills for more expensive properties, but may benefit lower value homes.
The Autumn budget will take place on Wednesday 30th October.
Yesterday
We look at how to get the best Buy to Let mortgage rate, what's in store going forward, and options as a landlord with increasing costs.
10 days ago
Throughout this past week, lenders have continued to reduce their mortgage rates giving borrowers in the UK some welcome news following the change in global tariffs under US President, Donald Trump.
10 days ago
Did you know that buying a house, or relocating is in the top 10 most stressful life events?
Stress of course is an unavoidable part of life and there are many reasons why people experience stress, not just buying a house!
There are lots of effective ways to manage and reduce stress, check out our tips to help you.
23 days ago
With the stamp duty relief ending in England and Northern Ireland, we have listed the top 10 cheapest areas for first-time buyers as published by Rightmove.
23 days ago
Are you looking to purchase your first home but unsure where to begin? Here are some tips to get you started.
Choosing which fixed rate to go for has been a dilemma for many of our clients so far this year. There really isn’t a right or wrong answer, but below we will look into the pros and cons of a two-year and five-year to help you make the right decision for you.
18 Mar 2025
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.
17 Mar 2025
According to Rightmove, a whopping 500,000 UK homebuyers are rushing to finalise their home purchase before the new Stamp Duty rules change in April.