Do the tax cuts equal more cash in hand?
Similarly, the reversal of the recent National Insurance bump by 1.25% will have a small impact and boost employees' paychecks. The majority of first-time buyers fall below this threshold and therefore won't benefit from the cuts, Jobson said. "The fall in the value of the pound following the mini-budget resulted in violent movements in the money market that has seen lenders pull competitive home loans in anticipation of further interest rate rises. This has pushed many wannabe homeowners to the sidelines," he explained.
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