‘Get on with it and fix the planning process’ Connells owner tells Government

The boss of Connells’ parent company Skipton warns it is “dangerous” to wait for the Government to hit its housebuilding target, and says fixing planning is more important.

So says Skipton Building Society CEO Stuart Haire (main picture), who is the ultimate boss of Connells which his organisation owns.

Profits fall

Haire’s statements in an interview with City AM come as the building society announced a 10% increase in full-year profits this week to £334 million.

Profits in Connells fell however to £13.8 million from £67.5 million, and transactions dropped from 87,000 to 70,000, as the housing market struggled.

I always think it’s dangerous to wait on the government.”

“I always think it’s dangerous to wait on the government, as really you’re waiting on them to use taxpayers money,” he said.

“The most important thing that the government can do is get really serious about central and local planning, to actually get the spades in the ground and build houses.”

Renters’ mortgage

Skipton unveiled a deposit-free mortgage targeted at renters last year, and it has had nearly 500 applications worth £62.4 million and made £29.7m completions, The Times reports.

The mortgage is approved based on a tenant’s track record of paying rent.

1% rate

Meanwhile, the Government is rumoured to be considering an introduction of a 99% mortgage in next week’s Budget, as it tries to attract younger voters.

And broker ‘Own New’ has launched a new product, working closely with major developers, which it says will give some buyers a 1% borrowing rate or even lower.