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What does it all mean? Remortgage – Switching your existing mortgage to a new …

What does it all mean? 🤯 Remortgage – Switching your existing mortgage to a new deal secured on the same property. For example to take advantage of a better rate with a different lender. SVR (Standard Variable Rate) – The interest rate that will apply after your promotional rate ends, if you do not remortgage. ERC (Early Repayment Charge) – Fee charged by a lender if you switch within the ERC period, which is usually the end of a promotional rate. LTV (Loan to Value) – Ratio between proposed loan and the value* of the property. For example a £60,000 mortgage on a £100,000 property is a 60% LTV. The more equity you have the lower the LTV and the more competitive rates you qualify for. (*based on the lenders valuation)



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Help to buy is changing.
 The Help to buy equity loan is changing in April 2021…

Help to buy is changing. The Help to buy equity loan is changing in April 2021…


Help to buy is changing.

The Help to buy equity loan is changing in April 2021 (not to be confused with the help to buy ISA which ended in November 2019) The current Help to buy equity loan scheme will remain in place until the new scheme comes into force which will run until March 2023.

Under the new scheme the government will still lend up to 20% of the cost of a newly built home (40% in London). However, it will only be available for first time buyers and includes regional property price caps so that it reaches the people that need it most.




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Chancellor Rishi Sunak has today confirmed temporary changes to Stamp Duty Land…

Chancellor Rishi Sunak has today confirmed temporary changes to Stamp Duty Land Tax charges as part of a package announced to help stimulate the economy. The 0% tax threshold has been moved from £125,000 purchase price to £500,000 effective immediately, lasting until 31st March 2021.

This is estimated to save an average of £4,500 tax bill when buying a new house. Nearly 9 out of 10 people getting on or moving up the property ladder will pay no Stamp Duty at all.



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