The Land Registry says its commitment to developing new digital services is making the process of buying a home simpler and quicker. One of its main innovations is a system allowing homeowners to re-mortgage their property by signing their mortgage deeds online. Lord Henley, the minister with responsibility for the Land Registry, said: “People are
UK house prices rose by an average 1.7% in the year to January but there were wide variations in different regions across the country. The House Price Index compiled by the Land Registry shows that although prices rose year on year, there was a fall of 0.8% from December 2018 to January 2019. The average
The government is providing £500m to help housing associations build 11,000 affordable new homes, including some ‘rooftop’ properties. The funding boost will help the government towards its target of building 300,000 properties a year by the mid-2020s.The associations will have the freedom to spend the money on developments where it can have the biggest impact.
The government is introducing a new Housing Complaints Resolution Service to cover the entire housing market. It means that dissatisfied homeowners and tenants will have simple and quick access to help when things go wrong. Communities Secretary James Brokenshire said the new service will cover everything from broken boilers to cracks in the wall and
The government is considering a stamp duty surcharge for non-UK resident homebuyers to reduce house price inflation and provide funds to help the homeless. The Treasury is conducting a study to consider how a new 1% increase to stamp duty costs for non-UK residents buying residential property in England and Northern Ireland would work. This
The government is planning a new system for buying and selling homes that it hopes will reduce the number of failed transactions. Currently, house buyers can have an offer accepted for the purchase of a home but then pull out at the last minute causing great inconvenience to the seller. The same problem can happen
The government has unveiled plans to ensure home buyers, sellers, tenants, landlords and leaseholders receive the best possible service from property agents. A new working group, chaired by Lord Best, and made up of experts from across the property sector will consider areas that can be improved. This will include the case for regulation
More than 458,000 homes have been sold to people using one or more of the government’s Help to Buy schemes. Just over 400,000 went to first time buyers. Under the Help to Buy: ISA, the government will boost your savings by 25%. So, for every £200 you save, you receive a government bonus of £50.
An ombudsman is to be appointed to support people facing problems with their newly built home. The move is part of a series of government measures to improve the housing market and speed up the building of new properties. The New Homes Ombudsman will protect the interests of homebuyers and hold developers to account when
Stamp duty for first-time buyers of shared-ownership homes costing up to £500,000 has been abolished by Chancellor Philip Hammond. Shared ownership is the system in which a person owns a percentage of a property, typically between 25 and 75%, and a housing association owns the rest. The scheme makes it possible to buy all the