The Government appears to have ruled out raising the property price cap for Lifetime ISA savers to make a home purchase. Currently, first-time buyers putting money into a Lifetime ISA can use the funds towards a property purchase up to a maximum of £450,000. This has drawn criticism though as the cap has remained the …
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Average asking prices have increased by the largest amount for January since 2020, Rightmove data shows. The latest Rightmove House Price Index for January shows the average price of property coming to market has increased by 1.7% on a monthly basis and by 1.8% annually. This is the largest increase in asking prices for this …
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Housing Secretary Angela Rayner has committed to leasehold reform this year, despite the latest delays. The Government last year signalled yet more consultations on leasehold reform, covering valuation rates, appropriate legal fees and service charges. This has delayed any reforms to the sector, leaving many leaseholders in unsellable homes. The comments came in Rayner’s first …
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Annual housing supply in England has fallen 6% to an eight-year low, official data shows. Government data shows there were 221,071 net additional dwellings in the 12 months to end March 2024, while delivery is down from 234,292 in 2022/2023. The North East, South West and East Midlands have all seen the sharpest falls in annual delivery, …
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A quarter of the UK’s largest mortgage lenders will not provide home loans against property with spray foam insulation, analysis shows. Spray foam insulation has been marketed as an energy-efficient and a cost-effective way to seal roof spaces, walls, and floors. However, this can lead to unintended consequences. By trapping moisture, it can cause the …
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The proposed tax changes and spending increases laid out by the Chancellor are expected to have a multifaceted impact on the UK economy. It is important to note that the long-term economic impact of these measures will depend on various factors, including the effectiveness of implementation, the response of businesses and consumers, and broader, economic …
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The government says it’s going to use its reforms of the housing industry to encourage owners to challenge builders and developers over quality. Housing Minister Matthew Pennycook made the statement in a formal response to the Competition and Markets Authority’s (CMA) recommendations to improve the new build homes sector. Pennycook says: “The CMA was right …
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Zoopla says homeowners who purchased their current home within the last 20 years are sitting on an average of £80,000 in property value gains. Some 60% have seen gains of £65,000 or more, partly down to house price growth of 78% over the last 20 years. UK homeowners who sold their home in the last …
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In an interview in The Guardian, Bailey says that the UK economy has proved more resilient than he feared two years ago, or even a year ago. He is quoted as saying: “I think the economy has come through the shocks of the last five years better than many of us feared. So there’s a …
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The government has issued a lengthy detailed guide to all provisions of the Renters Rights Bill, which is being presented to the House of Commons shortly. The full details include a list of all the Bill’s measures – namely periodic tenancies and grounds for possession, rent increases, tackling what it calls “the scourge of Section …
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