Jonathan Stinton News Today

Chancellor Jeremy Hunt is tossing out tax cutting pledges in a desperate bid to revive the Conservative Partys fortunes but his latest suggestion doesnt go far enough.

Coventry Building Society is calling for stamp duty reform as residential property transactions slumped to a four year low in the first quarter of 2024, according to analysis of the latest HMRC figures. Since January there have been 192,500 property transactions, which is the first time the number has dipped below

The Government is coming under increasing pressure to reform stamp duty to help reinvigorate the market and help first-time buyers.   

Stamp duty receipts for homebuyers tumbled 24% to £11.6bn in the year to March, reflecting the fall in home transactions over the last 12 months. UK property transactions fell by more than a fifth to 1.2 million homes in the year to March, while mortgage lending last year was down 23% to £130bn, according to UK

Coventry for intermediaries will lift its entire fixed-rate residential and landlord range for new borrowers tomorrow (27 February).   The broker-only arm of the Coventry Building Society will pull products at 8pm on Tuesday, with new loans set to come to market from 8am the following day.   Its changes cover:  

Jim and Simone Steele (pictured) are keen to downsize from their current property just outside Haverfordwest in Pembrokeshire.

Coventry Building Society has calculated that the true cost of stamp duty is 66.9% higher than the tax bill itself, leaving homebuyers spending thousands of pounds more than they perhaps realise. By paying the taxman rather than contributing towards their deposit, many homebuyers need to borrow extra and end up

Coventry for intermediaries has cut selected residential fixed rates and all buy to let fixed rates, as well as extending end dates on all available products in the range. Residential rates have reduced by up to 15bps and buy to let rates have reduced by up to 40bps. Highlights include; 4.26% five-year Fixed Rate to

Homebuyers paid a total of £11.8bn in stamp duty last year, according to Coventry Building Society’s analysis of HMRC figures. This is a 26.7% fall on the record total of £16.2bn homebuyers paid in 2022. The drop in tax revenue could be attributed to fewer people buying homes and a temporary extension of nil-rate

Coventry for intermediaries has reduced the majority of fixed rates, with residential rates reducing by up to 20bps and buy to let rates reducing by up to 22bps. Two, three and five-year fixed rate options are available for residential applications. Highlights include; A 4.29% five-year fixed rate to 30.06.2029, 65%