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The following ‘easy to use’ guide breaks down all benefits and schemes available in the UK – click on each topic for more information.
IncomeMax-X-BGET-BounceBack-Checklist-BGET-2021.pdf (britishgasenergytrust.org.uk)
For the attention of landlords with properties in the Plymouth area, please note that there is information, guidance and support available on energy performance improvements. Plymouth City Council and Plymouth Energy Community are working together to support landlords to meet Minimum energy Efficiency Standards, without the need for enforcement. Please check out the link below or contact Plymouth Energy Community directly to find out more;
https://plymouthenergycommunity.com/business/mees?r=11154
https://www.landlordssouthwest.co.uk/wp-content/uploads/2022/03/PCC-and-PEC-Advert-180222.pdf
Cornwall Council is proposing to change its ‘Private Sector Housing Enforcement Policy’ to incorporate new legislation and to improve how the Council currently uses its enforcement powers. Much of the draft policy is unchanged from the previous version, but where changes are proposed they wish to make sure that they consult fully.
To facilitate this consultation they have launched a survey. The survey will be live until 27/05/2022 and it can be found here: Private Landlord and Tenant Consultation | Let’s Talk Cornwall
The survey contains questions to help the Council gather current opinion on discretionary licensing. This survey is not a discretionary licensing statutory consultation, and the questions have been added to the survey to help Cornwall Council understand opinion on discretionary licensing at this moment in time, and to help them get the most value out of the exercise.
The survey also asks whether Cornwall Council should be doing more tenant engagement work, please also encourage tenants to complete the survey in any way that you can. If you have any questions, or would like to meet to discuss any part of this consultation exercise then please do not hesitate to contact Joe Roberts Joe.Roberts@cornwall.gov.uk or Stuart Kenney – stuart.kenney@cornwall.gov.uk
Notice of a General Meeting
Wednesday 20th April 2022
Future Inn Hotel, William Prance Road, Plymouth PL6 5ZD
7:00pm for a 7.30pm start
Speakers will include:-
Mick Quick – Tech Surveys:
Forthcoming changes to EPC legislation and what landlords can do about it
Annette Stone & Colleagues – Thomas Westcott Accountants:
Updates on all tax matters relating to the PRS with a focus on Making Tax Digital, Capital Gains Tax & SDLT
Wine & orange juice will be served during the evening. We hope to see you there, guests are very welcome.
Please remember to register your car at the hotel reception upon arrival.
Chancellor announces tax cuts to support families with cost of living – GOV.UK (www.gov.uk)
Rishi Sunak announced that National Insurance starting thresholds will rise to £12,570 from July, meaning hard-working people across the UK will keep more of what they earn before they start paying personal taxes.
The cut, worth over £6 billion, will benefit almost 30 million working people with a typical employee saving over £330 in the year from July. This means the UK now has some of the most generous tax thresholds in the world.
Mr Sunak also announced that fuel duty for petrol and diesel will be cut by 5p per litre from 6pm tonight (23 March) to help drivers across the UK with rising costs – a tax cut worth £2.4 billion. This is the biggest cut ever on all fuel duty rates and means a one-car family will now save on average £100.
To let people keep more of what they earn, the basic rate of income tax will also be cut by 1p in the pound in 2024, when the OBR expect inflation to be back under control, debt falling sustainably and the economy growing. The cut is worth £5 billion for workers, savers and pensioners and will be the first cut to the basic rate in 16 years.
The Chancellor also set out a series of measures to help businesses boost investment, innovation, and growth – including a £1,000 increase to Employment Allowance to benefit around half a million smaller firms.
Delivering the Spring Statement, Chancellor Rishi Sunak said:
This statement puts billions back into the pockets of people across the UK and delivers the biggest net cut to personal taxes in over a quarter of a century.
Like our actions against Russia, I have been able to do this because of our strong economy and the difficult but responsible decisions I have had to make to rebuild our finances following the pandemic.
Cutting taxes means people have immediate help with the rising cost of living, businesses have better conditions to invest and grow tomorrow, and people keep more of what they earn for years to come.
Delivering the statement, the Chancellor made clear that our sanctions against Russia will not be cost-free for people at home, and that Putin’s invasion presents a risk to our economic recovery – as it does to countries all around the world.
However, announcing the further measures to help people deal with rising costs, he said the extra support could only be provided because of the UK’s strong economy and the tough but responsible decisions taken to rebuild our fiscal resilience.
The immediate help for people with the cost of living and support for businesses comes as part of a wider Tax Plan announced by the Chancellor that will also create better conditions for growth and will share proceeds from growth more fairly – ensuring people can keep more of what they earn.
The Chancellor said that global supply chain issues following the pandemic, as well as Russia’s invasion of Ukraine, are driving up the cost of living for families across the UK.
To combat this, he announced that from 6pm this evening (23 March) fuel duty will be cut by 5p per litre for 12 months – worth £2.4 billion for hard-working families across the UK.
To ease cost of living pressures for almost 30 million employees, the Chancellor announced that from July 2022, National Insurance thresholds will rise to £12,570 to align with the income tax personal allowance. This simplification means that, from July, 70% of workers who pay NICs will pay less of it, even after accounting for the Health and Social Care Levy. Of those who benefit from the threshold increase, 2.2 million people will be taken out of paying NICs altogether.
To ensure more people can keep more of what they earn for years to come, the Chancellor also announced plans to cut the basic rate of income tax from 20p to 19p from 2024. The historic £5 billion tax cut for workers, pensioners and savers will be worth £175 on average for 30 million people and will be the first cut to the basic rate in 16 years. This will be delivered in a responsible and affordable way, while continuing to meet our fiscal rules.
Mr Sunak also announced that there will be an extra £500 million for the Household Support Fund, which doubles its total amount to £1 billion to support the most vulnerable families with their essentials over the coming months. The Chancellor also reduced the VAT on energy saving materials such as solar panels, heating pumps and roof insulation from 5% to zero for five years, helping families become more energy-efficient. This cost of living support comes on top of the measures that the Chancellor has already announced over the recent months to support families. This includes a £9 billion energy bill rebate package, worth up to £350 each for around 28 million households, an increase to the National Living Wage, worth £1,000 for full time workers, and a cut to the Universal Credit taper, worth £1,000 for two million families.
To lift growth and productivity among UK businesses, Mr Sunak set out plans to boost private sector investment and innovation and bring in a new culture of enterprise.
He increased the Employment Allowance – a relief which allows smaller businesses to reduce their employers National Insurance contributions bills each year – from £4,000 to £5,000. The cut is worth up to £1,000 for half a million smaller businesses and starts in two weeks’ time, on 6 April. As a result, 50,000 of these businesses will be taken out of paying NICs and the Health and Social Care Levy, taking the total number of firms not paying NICs and the Levy to 670,000.
The Chancellor also announced two new business rates reliefs will be brought forward by a year to come into effect in April 2022. There will be no business rates due on a range of green technology used to decarbonise buildings, including solar panels and batteries, whilst eligible heat networks will also receive 100% relief. Together these will save businesses more than £200 million over the next five years.
Ahead of the end of the super-deduction, the government will work with businesses and other stakeholders to consider cuts and reforms to best support future investment. And with UK employers spending just half the European average on training their employees, the Chancellor said he will examine how the tax system – including the operation of the Apprenticeship Levy – can be used to encourage employers to invest in adult training.
The Chancellor committed to improving R&D reliefs too. UK business R&D investment is less than half of the OECD’s average as a percentage of GDP, so R&D tax reliefs will be reformed to deliver better value for money for the taxpayer while being more generous where they can make the most difference. The scope of reliefs will also be expanded to cover data, cloud computing and pure maths.
The support for SMEs comes on top of 50% business rates relief for eligible retail, hospitality, and leisure properties, also coming in this April and worth £1.7 billion for small businesses. The Help to Grow Management and Digital schemes, worth thousands of pounds per business, and the £1 million Annual Investment Allowance are also available to continue supporting UK businesses.
The Spring Statement also confirms that:
UK individuals, charities, community groups and businesses can now record their interest in supporting Ukrainians fleeing the war through the government’s new Homes for Ukraine scheme.
launched a webpage for sponsors to record their interest, ahead of Phase One of the scheme opening for applications this Friday.
The Homes for Ukraine scheme will allow individuals, charities, community groups and businesses in the UK to bring Ukrainians to safety – including those with no family ties to the UK.
Phase One of the scheme will allow sponsors in the UK to nominate a named Ukrainian or a named Ukrainian family to stay with them in their home or in a separate property.
Individual sponsors will be asked to provide homes or a spare room rent-free for as long as they are able, with a minimum stay of 6 months. In return, they will receive £350 per month.
Those who have a named Ukrainian they wish to sponsor should contact them directly and prepare to fill in a visa application, with the application launching on Friday 18 March.
Charities, faith groups and local community organisations are also helping to facilitate connections between individuals, for potential sponsors who do not have a named contact.
Ukrainians arriving in the UK under this scheme will be granted 3 years leave to remain, with entitlement to work, and access benefits and public services.
Applicants will be vetted and will undergo security checks.
For further information please see here; https://homesforukraine.campaign.gov.uk/
Frequently Asked Questions
https://www.gov.uk/guidance/homes-for-ukraine-scheme-frequently-asked-questions
The government has published a call for evidence on Income Tax Self Assessment registration for the self-employed and landlords. You can find it at: Open consultation overview: Call for evidence: Income Tax Self Assessment registration for the self-employed and landlords – GOV.UK (www.gov.uk).
The closing date for the call for evidence is 22 March 2022
Interest rates have increased for the third time in four months as the Bank of England tries to calm the rise in the cost of living.
The rise to 0.75% from 0.5% comes as prices are climbing faster than pay, squeezing household finances.
It means interest rates are now at their highest level since March 2020, when the Covid pandemic began.
Energy bills and food costs are increasing and there is concern the war in Ukraine will push prices up further.
Inflation, the rate at which prices rise, is currently at 5.5%, well above the Bank of England’s 2% target. The Bank expects inflation to reach 8%, and possibly higher, in coming months.
The Bank’s policymakers cited rising prices and strong employment as the reasons for the latest rise.
The members of the Monetary Policy Committee (MPC) felt that “given the current tightness of the labour market, continuing signs of robust domestic cost and price pressures, and the risk that those pressures will persist,” an interest rate rise was justified.
The MPC voted by a majority of 8-1 for the measure, with deputy Bank governor Jon Cunliffe the only member to vote for keeping rates unchanged. He said this was because of the impact of rapid price rises on household incomes.
The committee said that more interest rate rises “might be appropriate in coming months, but there were risks on both sides of that judgement depending on how medium-term prospects evolved.”
The invasion of Ukraine was likely to push prices up even faster than the Bank expected at its last meeting in February, it said.
“The economy had recently been subject to a succession of very large shocks. Russia’s invasion of Ukraine was another such shock,” it wrote.
About two million households will see an immediate increase in their mortgage payments as a result of the rise in rates, according to UK Finance.
The increase will add about £26 a month to the cost of a typical tracker mortgage, and £16 to the cost of a typical standard variable rate mortgage.
The Bank said that higher global prices for energy and other goods were responsible for the faster rise in inflation than the MPC predicted at its last rate-setting meeting.
However, it expects inflation to “fall back materially” once prices stop rising and the impact of inflation on household incomes starts to bite.
Article from BBC News; https://www.bbc.co.uk/news/business-60763740
**PLEASE NOTE – THIS IS NOT AN SWLA WEBINAR – PLEASE SIGN UP BY CLICKING THE LINK BELOW IF YOU WISH TO ATTEND**
https://www.goodlord.co/newsagent/webinars/right-to-rent-checks-preparing-for-new-digital-checks
When – 10am Thursday 17th March 2022
Subject– Everything you need to know about upcoming changes to Right to Rent
Where– Zoom Webinar
| Need more clarity on the right to rent process? From 6 April 2022, letting agents and landlords will be able to use certified Identity Service Providers (IDSPs) to digitally check the identity and eligibility of British and Irish Citizens to rent a property in England. Join David Smith as he talks through what agents and landlords need to know about using these new providers to stay compliant with their right to rent obligations. The following will be covered; • Identity Service Providers (IDSPs) • Checks carried out by IDSPs • Letting agents’ and landlords’ obligations |
The Government understands that people are concerned about pressure on household
budgets and is taking action to help.
Alongside the £9.1 billion Energy Bills Rebate announced on 3 February, it is providing £12
billion of support over this financial year and next to ease cost of living pressures, with help
targeted at working families, low-income households and the most vulnerable.
At the Autumn Budget:
• The National Living Wage will increase to £9.50 an hour this April, providing an extra
£1,000 pay for a full-time worker – this has risen every year since it was introduced in 2016
• The cuts to the Universal Credit taper rate and uplift to work allowance will put an
extra £1,000 extra a year into the pockets of two million low-income families.
• Fuel duty has been frozen for the twelfth year in a row, meaning the average driver
has saved £1,900 since 2010.
• All alcohol duties have been frozen for a third year in a row, providing a tax cut worth
£500m for families every year.
On top of job support schemes during the pandemic:
• The £500m Household Support Fund supports millions of households in England with
essentials over the coming months.
• The Holiday Activities and Food programme, worth up to £220m, provides enriching
activities and healthy meals to children across the country over Easter, the summer
and Christmas holidays.
• Four million families are getting help with their council tax bills.
• Councils have been given an extra £65m to support low-income households with rent
debts.
• Increased generosity of the Local Housing Allowance for housing benefit, with more
than 1.5m households benefiting from an additional £600 a year
• The £140 million Discretionary Housing Payments is supporting families with rent or
housing costs.
• Over 1 million NHS workers are receiving a 3 per cent pay rise.
Measures to support people with their energy bills:
• The Energy Bills Rebate will give the majority of households £350 of support with
rising energy bills, including a £200 discount on energy bills this Autumn and a £150
non-repayable reduction in Council Tax bills for all households in Bands A-D in
England. There will be £144 million of discretionary funding for Local Authorities to
support households who need support but are not eligible for the Council Tax
reduction.
• The Energy Price Cap is saving 15 million households £100 a year on average since
2019.
• Warm Home Discount provides a £140 rebate on energy bills each winter to over 2.2
million low-income households.
• Winter Fuel Payments to over 11.4 million pensioners at a cost of £2bn annually, with
£200 awarded to households with somebody who has reached State Pension age
and is under age 80 or £300 for households with somebody aged 80 and over.
• Cold Weather Payment providing £25 extra a week for poorer households when the
temperature is consistently below zero.
• The Energy Company Obligation has already installed 3.3 million measures in
2.3 million homes and we are increasing the amount energy suppliers invest in
energy efficiency measures for low-income households, extending ECO until 2026,
and, from April 2022, boosting its value from £640 million to £1 billion a year. This will
help an extra 305,000 families with green measures such as insulation, with average
energy bill savings of around £300 a year.
Additional measures in place:
• Doubled free childcare, providing working parents with up to 30 hours, worth up to
£5,000 per child every year. The Government has also introduced tax-free childcare,
providing working parents with up to £2,000 of childcare support a year. Under
Universal Credit, parents can claim back up to 85% of eligible childcare costs,
compared to 70% under the old system.
• The Social Housing Decarbonisation Fund and Sustainable Warmth programme is
estimated to save households an average of £350-450 per year, and future minimum
energy efficiency standards in the private rented sector will require landlords to
improve their properties’ energy performance, driving bills down.
• Increased the value of Healthy Start vouchers by over a third to help those in need
with young children, supporting them to buy fresh fruit and vegetables to boost the
long-term health of their children.
• Put a further £24 million into the National Breakfast Club programme, with the aim of
providing healthy breakfasts in up to 2500 schools in disadvantaged areas.
• Established the Money and Pensions Service in 2019, who provide free pensions
and money guidance, as well as debt advice in England.
• Introduced the 26-30 railcard, the Veteran’s Railcard, and the 16-17 rail Saver
enabling more people to benefit from discounts on rail travel.
• Investing a further £11.5bn in the Affordable Homes Programme from 2021-26, which
will deliver up to 180,000 affordable homes built from 2021 onwards.
• Pension Credit provides extra money to help with living costs for those over State
Pension age and on a low income. Claiming it also opens up further support like
Housing Benefit and Council Tax reduction schemes.
Cost_of_living_factsheet__energy__v2.pdf (publishing.service.gov.uk)
Levelling Up Secretary Michael Gove has rejected developers’ offer to remediate unsafe buildings while protecting leaseholders from escalating costs.
The building industry had suggested funding the remediation of fire safety defects in properties they had a role in developing above 11 metres, without drawing on the Building Safety Fund, and to offer refunds relating to buildings where money had already been handed out.
In a letter to the Home Builders Federation, Gove said the proposal, “fell short of full and unconditional self-remediation that I and leaseholders will expect us to agree”. He added: “I am disappointed to see you have not proposed a funding solution to cover the full outstanding cost to remediate unsafe cladding on buildings 11-18m.”
Gove said developers must commit to full self-remediation of unsafe buildings without added conditions or qualifications and has given the sector until the end of the month to agree a fully funded plan. “If an agreement is not reached by the end of March, I have been clear that government will impose a solution in law and have taken powers to impose this solution through the Building Safety Bill.”
Principal Residence
The government has already announced that portfolio landlords who own flats hit by the cladding scandal won’t be covered by the remediation fund; only those leaseholders who live in a property as their principal residence and accidental landlords – those who do not live in the property, but do not own any other residences – or who own only one other property are covered.
Gove added that another industry roundtable would meet at the end of March to finish discussions.
Article Abridged from Landlord Zone
Households across England are being urged to set up direct debits with their local council to automatically receive a council tax rebate that will help millions of families manage costs of living. 4 out of 5 households will benefit including around 95% of rented properties
People who pay council tax by direct debit, which is a safe, simple and quick way to pay will see the cash go directly into their bank accounts from April. Those who do not pay by direct debit will be contacted by their council and invited to make a claim.
Around 20 million households in council tax bands A to D – including 95% of rented properties – are set to benefit from the £3 billion council tax rebate, which does not have to be repaid. It is part of an extensive package of government measures to help families with rising energy costs.
An extra £144 million will also be given to councils to provide discretionary support to vulnerable households who may not qualify for the £150 council tax rebate. This includes people on low incomes in council tax bands E to H.
The council tax rebate is part of a £9.1 billon government support package, which from October, includes a further reduction of £200 on energy bills for domestic electricity customers.
The £200 energy reduction will help people manage the increase in energy bills by spreading the increased costs over a few years, so they are more manageable for households. It will be automatically recovered from people’s bills in equal £40 instalments over 5 years, beginning in 2023, when global wholesale gas prices are expected to come down.
The Warm Home Discount will also be expanded so nearly 3 million low-income households will benefit from a £150 discount.
What about HMO landlords who pay the Council Tax in their HMO properties?
We are not sure! HMO landlords pay the council tax and household bills. But one could argue that tenants pay the council tax and household bills within their rent. We will update our members with more information when we have it.
https://www.gov.uk/government/news/households-urged-to-get-ready-for-150-council-tax-rebate
Tough new measures that will force industry to pay to remove cladding and protect leaseholders from exorbitant costs have been unveiled by Secretary of State for Levelling Up Michael Gove
Tough new measures that will force industry to pay to remove cladding and protect leaseholders from exorbitant costs have been unveiled by Secretary of State for Levelling Up Michael Gove today (14 February 2022).
For those in industry not doing the right thing, the government will be able to block planning permission and building control sign-off on developments, effectively preventing them from building and selling new homes.
The proposals will see the industry pay to fix historical problems, freeing hundreds of thousands of innocent leaseholders from shouldering an unfair financial burden while also enforcing a common-sense approach to avoid unnecessary work.
The Department for Levelling Up, Housing and Communities remains in ongoing discussions with industry leaders – who agree that leaseholders should not pay cladding removal costs – with progress being made. However, for those unwilling to make commitments, the Secretary of State has been clear he is ready to act.
Reflecting the scale of the problem, the government will also be able to apply its new building safety levy to more developments, with scope for higher rates for those who do not participate in finding a workable solution.
The government hopes to not have to use these powers; it wants responsible developers and manufacturers to operate freely and with confidence, to help deliver the homes people need. If they do not act responsibly, they must face commercial and financial consequences.
Alongside further leaseholder legal protections, courts will also be given new powers to allow developers to be sued where they have used shell companies to manage specific developments, so they can avoid taking responsibility for their actions.
If passed by Parliament, these amendments to the Building Safety Bill will be brought into law.
Secretary of State for Levelling Up Michael Gove said:
It is time to bring this scandal to an end, protect leaseholders and see the industry work together to deliver a solution.
These measures will stop building owners passing all costs on to leaseholders and make sure any repairs are proportionate and necessary for their safety.
All industry must play a part, instead of continuing to profit whilst hardworking families struggle.
We cannot allow those who do not take building safety seriously to build homes in the future, and for those not willing to play their part they must face consequences.
We will take action to keep homes safe and to protect existing leaseholders from paying the price for bad development.
Cost Contribution Orders will be able to be placed on manufacturers who have been successfully prosecuted under construction products regulations. These orders will require them to pay their fair share on buildings requiring remediation. It is wrong that, until now, a manufacturer could be found guilty of misconduct but could not be charged to fix the problems they caused in selling defective products.
Amendments to the Building Safety Bill, revealed today, will also allow building owners and landlords to take legal action against manufacturers who used defective products on a home that has since been found unfit for habitation. The power will stretch back 30 years and allow recovery where costs have already been paid out.
New clauses will also enshrine in law the commitment the Levelling Up Secretary made in the House of Commons last month that no leaseholder living in their own home, or sub-letting in a building over 11m, ever pays a penny for the removal of dangerous cladding.
If passed by Parliament, these clauses will hugely reduce the invoices that have been sent to leaseholders for taking down cladding, in some cases for over £100,000.
The provisions announced today will also go further than the package outlined last month by protecting leaseholders on non-cladding costs. Under the plans, developers that still own a building over 11m that they built or refurbished – or landlords linked to an original developer – will be required to pay in full to fix historic building safety issues in their property.
Building owners who are not linked to the developer but can afford to pay in full will also be required to put up the money to do so.
In the small number of cases where building owners do not have the resources to pay, leaseholders will be protected by a cap. The cap will be set at similar levels to ‘Florrie’s Law’ which applies to some repairs to social housing: £10,000 for homes outside London and £15,000 for homes in the capital. This will limit how much leaseholders in this scenario can be asked to pay for non-cladding costs, including waking watch charges.
Any costs paid out by leaseholders over the past 5 years will count towards the cap, meaning some leaseholders will pay nothing more. We will carry out further consultation with parliamentarians and stakeholders before finalising this to ensure that we deliver the right result for leaseholders.
The provisions will protect leaseholders and encourage a more proportionate approach to fixing buildings. Currently, building owners can simply pass all costs on to leaseholders, with no incentive to hold back on unnecessary remediation work that has brought misery to leaseholders.
Today’s package, alongside the duties in the wider Bill, will create an environment for tough, proportionate action on critical safety issues while preventing cost inflation and excessive work.
This follows the Secretary of State’s statement in January, when he set out a 4-point plan to reset the approach to building safety and give leaseholders more protection against unfair costs.
The new leaseholder protections announced today, will allow those less likely to be able to pay to be fully exempted from costs.
In the small number of cases where building owners do not have the resources to pay and the developer cannot be traced, leaseholders will have a ‘Florrie’s Law’ style backstop protection, which caps how much they can be asked to pay for non-cladding costs, including waking watch charges.
Any costs paid out by leaseholders over the past 5 years will count towards the ‘Florrie’s Law’ style caps, meaning some leaseholders will pay nothing more.
The proposed government amendments are on the Parliament website.
The government is calling on landlords with suitable properties to submit offers through a relaunched housing portal. The portal allows private landlords to put forward offers of accommodation so councils can match them to families.
More offers are urgently needed to help move families from temporary bridging accommodation and into their own homes – so they have the stability they need to rebuild their lives in the UK.
Landlords will be supporting the more than 300 councils who have already pledged places. This is backed by £5 million in government funding.
Homes have been provided to more than 4,000 evacuees but more offers are required to ensure that no family is left without an appropriate housing match.
Accommodation must be self-contained with no shared facilities, available for at least 12 months, and meet safety regulations and landlord responsibilities. To support as many families as possible, properties should be as close to the Local Housing Allowance Rate as possible. There is a particular need for larger properties and properties that are in a close proximity to one another.
If you have a property that may be suitable, please register your interest with the gov.uk’s ‘Afghanistan Housing Portal’ – https://www.gov.uk/government/publications/afghanistan-housing-portal-offers-of-support
Article by Asmi and Calum, Mortgage Advisors, Excaliber Associates – 01752 340183
Pandemic, inflation and conflict. 2022 is shaping up to be another challenging year for us all, with the cost of living climbing, you may be worried: so where does this put you?
We’re already feeling a squeeze on the market. With the cost of energy having risen, and set to rise further in April, this only adds to the inflation that impacts upon us all. This is no different to the mortgage market, where we have already seen slight increases in the base rate of interest, with the expectation of further rises in the coming year to combat its effect.
With 2022 set to be the year of the remortgage, even by conservative estimates, now is the time to assess your finances to meet the coming year head on. Beat the rising rates, lower your rising costs.
The time to seek independent financial advice is now, not only to save on one of your largest burdens, but to protect yourself against any future changes.
Excaliber Associates mortgage team welcome calls from SWLA members with mortgage queries.