Broker Bulletin: December 2024
(For Intermediaries Only)
Happy New Year to our brokers and followers! 2024 was a fantastic year for Principality Intermediaries as we made even more possible for our brokers and customers.
As we head into 2025, it's a great opportunity to look back at the criteria changes we made last year to support your customers in getting onto the property ladder.
Follow our LinkedIn page or register with MSO to keep up with our latest updates and changes.
Important Update on Stamp Duty
Recent changes to Stamp Duty Land Tax (SDLT) in England may have have an impact on your clients' purchases.
Effective from the 1st of April 2025, the SDLT thresholds in England will revert to previous levels:
This change means that first-time buyers purchasing properties above ￡300,000 will incur SDLT, impacting their overall purchasing costs.
Implications for Submitted Applications
Please be aware that we cannot guarantee that applications submitted under previous SDLT rules will adhere to those prior rates upon completion. It's essential to review each case individually and inform your clients about potential changes in their tax liabilities.
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Service Levels in December
December was another busy month for our team with with quick responses to business enquiries made by you, our brokers.
Register for MSO
MSO is our Mortgage Sales Origination platform where our brokers can place business with us. We introduced MSO to streamline the mortgage application process and give certainty to our brokers around our decisions.
Did you know: We have a dedicated MSO support hub on our new website. This houses support guides, videos and FAQs to help you with any problems you might have submitting an application.
Connect with your local BDM
Find your local BDM to discuss any cases physically, virtually or over the phone.
Have an amazing month, and keep your eyes peeled for an update!
Speak soon,
Helen.
Expert in the New Build and Affordable Housing space - Innovation and National New Build Account Manager
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