Toby Leek, NAEA Propertymark president, comments on UK Finance reporting a surge in housing market activity following changes to Stamp Duty.
Sirs,
The increase in Stamp Duty thresholds sparked a flurry of mortgage lending in the first quarter of 2025 due to people rushing to avoid paying higher rates of Stamp Duty across England and Northern Ireland and before thresholds changed at the start of April.
While this has a positive effect on the mortgage market within the first quarter of the year, it was always inevitable there would be a post threshold slow down as an aftereffect.
As we head into the summer months, it remains a case of all eyes on the Bank of England regarding the directions of travel on the base rate over the coming months and how this might translate into lenders bringing potentially more competitive mortgage products to the market.
Toby Leek
President,
NAEA Propertymark
