Archive for November, 2024

Bank of England Expected to Lower Interest Rates to 4.75%

Posted on Tuesday, 5 November, 2024

Experts anticipate that interest rates will be cut, despite Rachel Reeves’s October Budget likely adding to inflation. The Bank of England’s Monetary Policy Committee (MPC) is expected to reduce the interest rate from 5% to 4.75% this Thursday. The Bank had previously lowered rates from a 16-year high of 5.25%…

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Property Sector Responds to Stamp Duty Hike on Second Properties

Posted on Monday, 4 November, 2024

The residential property sector is grappling with the news of a 2% increase in Stamp Duty on buy-to-let properties, effective immediately. Chancellor Rachel Reeves announced this increase, raising the tax on investment properties from 3% to 5% in the recent Budget. This change is expected to heavily impact landlords, though…

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