RISHI SUNAK EXTENDED UK MORTGAGE LENDING AFTER TAX BREAK

Highlights:

  • Rishi Sunak has extended the UK mortgage lending after the tax break
  • The mortgage lending of United Kingdom has showed the biggest increase on record in the month of March 2021

On Tuesday, according to the data, the mortgage lending of United Kingdom have showed the biggest net increase on the record in the month of March 2021, after Rishi Sunak, who is the finance minister of United Kingdom have extended a reduction in tax for the property purchases in the United Kingdom, and the Mortgage borrowing has also been increased by a net of 11.8 billion pounds in the month of March 2021, which has been the biggest increase since the series has started in the month of April 1993.

The BoE data also showed that, the lenders of the United Kingdom has approved 82,735 mortgages in the month of March 2021, that is down by around 5,000 from the month of February 2021 and a recent peak of more than 103,000 in the month of November 2020.

The first 500,000 pounds of any of the property purchase in the United Kingdom or the Northern Ireland is going to remain exempt from the stamp duty until the end of June 2021, and there is also going to be a 250,000-pound tax-free allowance until the end of the month of September 2021, and on Tuesday, the data published by BoE has also showed that, the unsecured lending to the consumers of the country had been 8.6 percent lower than it was in the month of March 2020.

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