Latest news with #Hampshire-based
Daily Mail
01-05-2025
- Business
- Daily Mail
Major bank cuts mortgage rates and now has a 3.79% best buy - here's who can get it
Halifax has cut its mortgage rates and now offers the cheapest two-year fix. The lender has reduced its lowest two-year fixed rate for people remortgaging from 4.1 per cent to 3.79 per cent, which makes it a best buy. It is one of several banks and building societies to now offer rates below 4 per cent to those remortgaging or buying with a large deposit or equity. The headline rate is available to those who are taking a mortgage of £250,000 or more, and have a deposit of at least 40 per cent. This means they will need to own a home worth at least £417,000. The mortgage also comes with a large fee of £1,999. Borrowers need to weigh up rates and fees carefully, as adding the fee to the loan may cost them more in the long term than taking a slightly higher rate. They can do this using This is Money's true cost mortgage calculator. Borrowers wanting to take this mortgage must also be a new Halifax customer, with rates for existing customers slightly higher. The next-cheapest deal available for the same circumstances is 3.88 per cent with NatWest. This comes with a lower fee of £1,495. HSBC is also offering 3.88 per cent on a two-year fix, but only to customers with a Premier bank account. Jack Tutton, director at Hampshire-based broker SJ mortgages, told news agency Newspage: 'The mortgage market is really hotting up and Halifax has stolen the march with its latest cuts. 'Their headline rate of 3.79 per cent will be a game changer and will make other lenders consider their pricing.' For those looking for a five-year fix, Halifax has a rate of 3.88 per cent, also on a 40 per cent deposit and for those remortgaging with loans of £250,000 or more. It also has a £1,999 fee. The biggest reduction was to its fee-free two-year fixed remortgage product for a 40 per cent deposit , which was reduced from 4.85 per cent to 4.51 per cent. Lenders are reducing rates for several reasons, one of which is the likelihood for further falls in the Bank of England's base rate. They are also trying to win customers, amid worries that the increase in stamp duty on 1 April might slow the housing market. Figures from the Bank of England today suggested that fewer people are taking out mortgages to buy a home. Mortgage approvals for house purchases fell 1.2 per cent in March — the third monthly drop in a row. Because mortgages are usually approved weeks or months before a property purchase completes, those getting a mortgage in March would be very unlikely meet the deadline for reduced stamp duty. Nick Maud, director of research at agent Savills, said: 'Activity peaked in October and December 2024, likely driven by first-time buyers rushing to beat the stamp duty nil-rate deadline. However, momentum has trailed off thereafter. The prospect of further cuts to the base rate and the loosening of lending regulations, as proposed by the Financial Conduct Authority, may help to stimulate demand over the coming months.' How to find a new mortgage Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you What if I need to remortgage? Borrowers should compare rates, speak to a mortgage broker and be prepared to act. Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it. Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees. Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone. What if I am buying a home? Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be. Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power. How to compare mortgage costs The best way to compare mortgage costs and find the right deal for you is to speak to a broker. This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice. Interested in seeing today's best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs. If you're ready to find your next mortgage, why not use L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and L&C Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.
BBC News
23-04-2025
- Business
- BBC News
Fate of Somerset's 'ugly' shopping centre to be decided at appeal
Plans to turn an "eyesore" shopping centre into a retirement community are to be decided by a planning inspector.A six-day appeal hearing will begin in Shepton Mallet on Wednesday, after Somerset councillors rejected the plans for Street's Crispin Shopping Centre in July Retirement Living wants to demolish the shopping centre, original built in 1979, and build a retirement complex in its place, with 45 extra care apartments and 11 retirement cottages. Somerset Council's Planning Committee East voted against the proposals citing a lack of parking, an unattractive design and possible damage to local heritage assets. According to the Local Democracy Reporting Service, the Hampshire-based developer lodged an appeal against this "extremely disappointing" decision shortly after the committee Retirement Living said the development was "in a sustainable location" and would deliver "tangible benefits" to the local community. Local resident Emma Harding spoke out against the plans at the council's planning meeting last year. She said: "I am one of the seven residential neighbours which will be overlooked by the new flats."We don't have an issue with the site being developed - we have an issue with what's being put there and how it may be put there. When you have demolition work close to our properties, we're concerned about the damage that will be done to them by vibration."Councillor Peter Goater, vice-chairman of Street Parish Council, told last year's meeting: "The existing building is an ugly monstrosity which has been taken over by pigeons, rats and antisocial behaviour."Street Liberal Democrat Somerset Councillor Simon Carswell is in favour of the plans."I think it'll be good for Street. It'll provide homes for retired people, and it will get rid of an eyesore which is right in the centre of the High Street," he said. "So I think that can only be good for the community." The site is one of nine identified for delivering new housing within the council's revised Mendip Local Plan Part II, which went out to public consultation in Churchill's proposals, the existing buildings would be replaced with a three-storey, L-shaped block of apartments, with two blocks of cottages on the northern and eastern sides. The council previously voted unanimously to refuse the plans on eight grounds including "over-development", "insufficient information" on how existing trees within the site can be adequately protected and not including adequate space for waste vehicles.A Churchill Retirement Living spokesman said: "The site is in a highly accessible location, making it suitable for older people."The appeal proposal will assist in releasing and freeing up under-occupied houses elsewhere in the county back into the housing currently operates the Riverain Lodge care facility in Taunton town centre, and secured planning permission in early-April 2024 to deliver a similar development on the former police station site in Wells.
Yahoo
15-04-2025
- Business
- Yahoo
Pulse Finance completes MBO with backing from Arena Investors
The leadership team at Pulse Finance has completed a management buyout (MBO), returning the Hampshire-based working capital provider to independent ownership. Managing Director Toni Dare and Sales and Marketing Director Martin Bennison led the transaction, acquiring the business from its previous parent with financial backing from Arena Investors LP. The buyout includes a brand refresh and a renewed focus on expanding Pulse Finance's suite of funding solutions for small and medium-sized enterprises (SMEs) across the UK. Pulse was founded in 2008 by Dare, who remained in post after the business was sold to a third party in 2019. The new MBO sees Dare regain ownership alongside Bennison, with both executives aiming to build on the company's recent growth in invoice discounting and trade finance. Commenting on the transaction, Dare said the business is entering a new phase with the support of a committed funding partner and a strategy to invest in talent and services. 'From our clients' and introducers' perspective, it's business as usual,' she said. Advisers to the deal included Noel Ruddy and Dawn Shadwell of Cripps, and Mark Lucas and Calvin Bond of Quantuma. Pulse Finance said it has seen increased demand for flexible funding solutions amid continued macroeconomic uncertainty, with rising interest rates, inflation, and employment costs placing pressure on SMEs. The company intends to use its new ownership structure to scale operations and increase market reach. Bennison said the business is well positioned to support SME clients with tailored financing packages. 'We've earned a reputation for helping where others can't, focusing on the quality of the debt to deliver solutions that meet businesses' working capital needs,' he said. 'Our aim is to enable more businesses to access funding to support growth in a challenging economic climate.' "Pulse Finance completes MBO with backing from Arena Investors" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
15-04-2025
- Business
- Yahoo
‘Suspicious' second homes flood property market in holiday let hotspots
Second home owners are raising suspicion by exploiting a loophole to dodge council tax premiums. Local authorities have been able to charge a 100pc premium on second homes since April 1, under new powers introduced under the 2023 Levelling Up and Regeneration Act. But experts said second home owners were 'raising eyebrows' by exploiting a legal loophole around it. By listing their holiday home for sale, owners can receive a 12-month exemption from the tax. The tactic is fully legal as long as properties are publicly marketed and listed at a price in line with the local area. North Cornwall MP, Ben Maguire, said the litany of for-sale signs in the coastal town of Padstow was 'suspicious'. He said: 'Houses here sell like hot cakes. It's slightly suspicious, seeing that. They've been on the market a long time.' Only around a fifth of second homes which have come on to the market this year are under offer, according to Hamptons estate agency. While property sales are a slow-moving process across the board, Harry Goodliffe, of Hampshire-based firm, HTG Mortgages, accused some second home owners of 'playing the game'. He said: 'We've noticed a few properties pop up at inflated prices or with zero real marketing effort. It's a clear sign they're just buying 12 months of relief, not seriously exiting the market. 'This loophole might be legal, but it's raising eyebrows. List the house, dodge the tax, but don't actually sell.' The average second home owner has seen their tax bill rise 77pc to £3,672 in 2025-26 as a result of the new premium, according to Telegraph analysis. Those owning the most expensive properties in some areas face a bill in excess of £10,000. A growing number, however, are believed to be sidestepping the costs by putting their home for sale with little intention of selling. Several councils shared fears over administration challenges and suggested the relief 'could be open to abuse and create opportunities for avoidance' when consulted by the Government in 2023. Jonathan Moser, of property management firm, Mo'Living, said: 'It's early days but we're already seeing this tactic emerge.' Holiday home owners in England making use of the listing trick are following in the footsteps of those in Wales who have faced tripled council tax bills since last April. The exemption, which is enshrined in the Local Government Finance Act, can last for a maximum of one year, but councils have discretionary powers to extend the relief if a sale is nearly over the line. There is, however, no obligation to sell. An owner can only make use of the 12-month exemption once during the course of their ownership. As well as being listed for sale, the home can be marketed for let and still earn 100pc relief from the premium. Government guidance states: 'Owners may need to provide evidence to their council to benefit from this exception. To qualify, a property must be on the market for sale or let at a reasonable price. 'In cases where the council considers the sale or rental price to be inflated, the council can request evidence to support the asking price.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
15-04-2025
- Business
- Telegraph
‘Suspicious' second homes flood property market in holiday let hotspots
Second home owners are raising suspicion by exploiting a loophole to dodge council tax premiums. Local authorities have been able to charge a 100pc premium on second homes since April 1, under new powers introduced under the 2023 Levelling Up and Regeneration Act. But experts said second home owners were 'raising eyebrows' by exploiting a legal loophole around it. By listing their holiday home for sale, owners can receive a 12-month exemption from the tax. The tactic is fully legal as long as properties are publicly marketed and listed at a price in line with the local area. North Cornwall MP, Ben Maguire, said the litany of for-sale signs in the coastal town of Padstow was 'suspicious'. He said: 'Houses here sell like hot cakes. It's slightly suspicious, seeing that. They've been on the market a long time.' Only around a fifth of second homes which have come on to the market this year are under offer, according to Hamptons estate agency. While property sales are a slow-moving process across the board, Harry Goodliffe, of Hampshire-based firm, HTG Mortgages, accused some second home owners of 'playing the game'. He said: 'We've noticed a few properties pop up at inflated prices or with zero real marketing effort. It's a clear sign they're just buying 12 months of relief, not seriously exiting the market. 'This loophole might be legal, but it's raising eyebrows. List the house, dodge the tax, but don't actually sell.' The average second home owner has seen their tax bill rise 77pc to £3,672 in 2025-26 as a result of the new premium, according to Telegraph analysis. Those owning the most expensive properties in some areas face a bill in excess of £10,000. A growing number, however, are believed to be sidestepping the costs by putting their home for sale with little intention of selling. Several councils shared fears over administration challenges and suggested the relief 'could be open to abuse and create opportunities for avoidance' when consulted by the Government in 2023. Jonathan Moser, of property management firm, Mo'Living, said: 'It's early days but we're already seeing this tactic emerge.' Holiday home owners in England making use of the listing trick are following in the footsteps of those in Wales who have faced tripled council tax bills since last April. The exemption, which is enshrined in the Local Government Finance Act, can last for a maximum of one year, but councils have discretionary powers to extend the relief if a sale is nearly over the line. There is, however, no obligation to sell. An owner can only make use of the 12-month exemption once during the course of their ownership. As well as being listed for sale, the home can be marketed for let and still earn 100pc relief from the premium. Government guidance states: 'Owners may need to provide evidence to their council to benefit from this exception. To qualify, a property must be on the market for sale or let at a reasonable price. 'In cases where the council considers the sale or rental price to be inflated, the council can request evidence to support the asking price.'
