help to buy
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Latest property news
Javid steps in to tackle houses sold with unfair leasehold terms
Business secretary Sajid Javid (pictured) has announced that he will use the government’s Help to Buy scheme to police the growing problem of properties sold with unfair leasehold terms. Speaking to housing leaders at the Royal Society of Medicine in London yesterday, he heavily criticised the industry for the terms of agreements it forces some buyers to sign when buying the new breed of ‘leasehold houses’ being built across the UK. Javid says that although the last thing he wants to do is tie up the industry in “red tape”, he didn’t see how the government could “look the other way” while these “feudal practices” persist. So Help to Equity Loans will soon only be used to support new-build houses sold on acceptable terms. “This will send a serious message to the building industry: if you want the government to help you build and sell homes, you have to sell them on fair terms. “I’m hearing about more and more cases where developers are selling newly-built houses on a leasehold basis for no obvious reason,” he said. Javid also recounted the story he had been told of a leaseholder “stuck in a house with ground rent that doubles every ten…
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Housing Market
Britain is building again
The volume of new homes in England increased by 25 per cent in 2014-15, the biggest rise in 28 years, according to latest Government figures. Alterations to planning laws helped boost the number of residential properties developed through a change of use, but the main factor was a hike in the number of new-build homes completed during the year. Data from the Department for Communities and Local Government shows that a total of 170,690 homes were added to the country’s housing stock, which Communities Secretary Greg Clark said was further proof of the Government’s commitment to get more homes developed. More than 700,000 additional homes have now been delivered since 2010, supported in part by a rise in the number of commercial buildings converted into residential properties. Clark (left) said, “As a one nation government we’re determined to make sure everyone has the opportunity and security of owning a home of their own. “Today’s figures show a 25 per cent increase in the number of new homes over the past year – showing our reforms are building new homes across Britain. “We are going further and will do everything we can to help families buy a place of their own.…
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Housing Market
Housing is a top issue for voters
One of the most closely contested General Elections for decades is now formally under way, with the NHS, economy, immigration, welfare and jobs all high on the political agenda. But housing is also a major concern for many voters and could prove a key electoral battleground for the various political parties, according to pollster Ipsos Mori. Ipsos Mori’s latest Issues Index reveals that 14 per cent of voters currently rank housing as among the most important issues facing the country, up from 5 per cent in 2010, as more people struggle to afford to buy their own home in light of higher property prices and a general housing shortage. The Conservative party, which has reformed the planning system and introduced various Government initiatives including its flagship Help to Buy scheme since coming to power in 2010, has vowed to boost the level of discounted starter homes available for first-time buyers under the age of 40 if re-elected in May. Writing in PROPERTYdrum magazine, Brandon Lewis (left), the Housing and Planning Minister, said, “We’ve supported the aspirations of hard-working people. Help to Buy is enabling homeowners to purchase with a fraction of the deposit they would normally require, and leading developers…
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Features
Labour’s housing policy revealed
Shadow Housing Minister, Emma Reynolds, sets out Labour housing policy.
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