Intermediary Live Feed Budget predictions
We'll be starting the live feed this afternoon with pre-Budget predictions before ramping it up tomorrow.
What do you expect to see in tomorrow's Budget that will impact the mortgage/property market?
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Honestly, a Truss style budget could tip me over the edge. I think this Budget will be much more reserved. Jeremy doesnt have a lot of cash to play with but needs to find a headline grabber or two to help election hopes, so it's a tricky one to call.
In order to boost the property market, i'm thinking an extension to Stamp Duty Reliefs and possibly an increase the the Government contribution on Lifetime ISAs. Nothing too drastic or exciting.
If he really wants to help out borrowers though, anything he can do to help economic stability and get an extra few pounds in their pocket each month will help dramatically.
In order to boost the property market, i'm thinking an extension to Stamp Duty Reliefs and possibly an increase the the Government contribution on Lifetime ISAs. Nothing too drastic or exciting.
If he really wants to help out borrowers though, anything he can do to help economic stability and get an extra few pounds in their pocket each month will help dramatically.
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All eyes on the Chancellor tomorrow, with the Red Briefcase displayed, beautifully designed by Naff & All, before he makes his eagerly awaited budget announcement.
Honestly can't see any nuggets of encouragement for the economy at the moment. I do hope im wrong, just cant see that this government have the clarity or conviction to follow anything through at present, parricularly when you have party agendas to consider. What a sensible budget should be and what we will actually get, i think will be a million miles apart. I would happily be proved wrong of course.
Honestly can't see any nuggets of encouragement for the economy at the moment. I do hope im wrong, just cant see that this government have the clarity or conviction to follow anything through at present, parricularly when you have party agendas to consider. What a sensible budget should be and what we will actually get, i think will be a million miles apart. I would happily be proved wrong of course.
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How many people apart from millionaires et al can honestly say they are better off now than they were in 2010. Its been chaos after chaos, u-turn after u-turn, nastiness after nastiness.
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Predicting what Jeremy Hunt will do in the budget is tricky business. Any tax cut will need to be reversed after the General Election as the UK population won't feel easy in a further cut in our services (NHS, Schools) to buy votes. Increasing the inheritance tax band to £1,000,000 would seem sensible as for once it would take the majority of the country out of taxation but be funded by the better off. Making a case to ease people to downsize in their later years seems like a good way to free up some housing stock, perhaps a Stamp Duty break for owners over age 60, maybe paired with a council tax-free period of 5 years. I personally feel that the Tories have it in them to leave a trap for any new party taking over the reins - with little funds available any public benefitting changes could buy votes and if it didn't pay off the new arrival would find it impossible to fund without U turns.
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I wouldn't be surprised if we see either the return of an amended version of Help to Buy or perhaps government backing for long-term 30 year+ fixed rate mortgages as they have in the States. Demand side measures that will push up prices and serve to make property even more unaffordable for the next generation. I'd much rather see property prices re-included in the 2% inflation target, and supply-side measures to build social housing at scale. We need bold, radical steps to fix the housing crisis in this country, not tinkering around the edges.