View more on these topics

Stamp duty rush pushes lending to 8-year high


Banks reported an 8-year lending high last month as landlords looked to beat 1 April’s stamp duty increase on second homes.

The seven major banking groups reported gross lending of £17.1bn in March, which was up 64 per cent year-on-year.

The number of approvals was up 20 per cent year-on-year at 78,448. However, approvals dipped slightly from 79,159 in February.

BBA chief economic adviser Rebecca Harding says: “A surge in buy-to-let and second home buying ahead of the new stamp duty surcharge in April led to a sharp rise in March’s gross mortgage borrowing as people brought transactions forward.”

Mortgages for Business managing director David Whittaker says: “While the buy-to-let market adapts to the new stamp duty status quo, mortgage lending activity will settle somewhat in the second quarter of the year.

“Landlords will need a bit of time and space to factor in the financial cost of the changes and, if necessary, devise new investment strategies. Investors may also use this quieter period to work out how to manage the upcoming implementation of relief restrictions on the buy-to-let market, with some landlords opting to move to limited company mortgages to avoid many of the more costly changes. The impetus we’re seeing in the remortgaging sector isn’t going to lose any steam either, as existing homeowners continue to latch onto a better deal while they can.”



Brokers predict criteria war as B2L volumes dip

Brokers are predicting a criteria war as Government intervention leads to reduced volumes in the buy-to-let sector. Lenders have revised their buy-to-let offerings over the past week in an effort to drum up business. Accord cut rates by up to 30bps and TSB by up to 35bps. TSB is also slashing residential rates by as […]


Santander to cut B2L rates by up to 30bps

Santander is set to cut selected buy-to-let two-year fixed rates by up to 0.3 per cent. The lender is one of many to cut buy-to-let rates in recent weeks, with experts suggesting there has been a scramble for business since 1 April, when activity slumped after the increased buy-to-let stamp duty rates took effect. From […]

TSB store front 700 x 450

TSB cuts B2L rates by up to 35bps

TSB is cutting rates by up to 35 basis points on its buy-to-let range and 30 basis points on its residential products. The buy-to-let cuts will apply to the lender’s two-, three- and five-year terms, including the following: TSB’s residential rates will see cuts of up to 30bps. The biggest reduction will be the lender’s […]


Accord cuts B2L rates by up to 30bps

Accord Buy to Let will cut rates on its buy-to-let products by up to 30 basis points today. The rates being trimmed by this margin are: 75 per cent LTV Three-year fixed cut from 3.29 per cent to 2.99 per cent, with an £800 fee and £500 cashback on completion (house purchase only) Five-year fixed […]

A bull case for US equities?

Neptune video: a bull case for US equities?

Watch Felix Wintle, head of US equities at Neptune, discuss why he believes US equities are in a structural bull market and the key factors that can drive the S&P 500 higher.

In the video, Wintle addresses the following:

• The US market and why — despite equities rising from 2009 — he believes the structural bull market only started in 2013
• Key economic and corporate factors that can drive the S&P 500 higher
• Investment themes and sectors offering exposure to the domestic recovery


News and expert analysis straight to your inbox

Sign up