The recent Budget has had a notable impact on the housing market, particularly for landlords and potential homebuyers. Here are some key changes and their effects: In summary, the Budget introduced cost increases for buy-to-let investors without providing substantial reliefs for buyers, potentially leading to increased rent prices, limited supply…
Read MoreThe 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…
Read MoreBank of England Governor Andrew Bailey has signalled that further interest rate cuts could be on the table, provided inflation stays under control. Bailey indicated that the Bank might adopt a “somewhat more aggressive” approach to the base interest rate in the coming months. In an interview with The Guardian,…
Read MoreThe recent survey conducted by Rightmove among over 1,600 active landlords highlights the key concerns and priorities of landlords in the current market. Here are the top three things that landlords want from a letting agent based on the survey: 1. Guidance on Legislation and Reassurance on Compliance 2. Making…
Read MoreThe Bank of England (BoE) has announced it will lower the Base Rate to 5% this month, marking a 0.25% reduction and the first cut in four years. The Base Rate had been steady at 5.25% since August 2023, following 14 consecutive increases. The Bank had been raising and maintaining…
Read MoreWe’re delighted to have been awarded the British Property Awards 2024 Gold Winner for Estate Agent in Uxbridge!
Read MoreFor those contemplating purchasing a home, the current mortgage rates in the UK are a pertinent consideration. Mortgage lenders regularly adjust the rates of their products. Consequently, we provide weekly updates on average mortgage rates, allowing for easy comparison with the previous week’s figures. Moreover, you can assess rates across…
Read MoreFrom all of us at Lakin & Co, we wish you a happy Christmas and New Year! ???????????? Please find our opening hours over Christmas.
Read MoreAverage mortgage rates have been steadily decreasing since July, providing a more stable and predictable environment for homebuyers compared to the volatility of the previous year’s mortgage market. Currently, the average two-year fixed rate stands at 5.52%, and the average five-year rate is 5.11%. Despite the improved outlook for mortgage…
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