Government unveils strict landlord rules for electrical safety
Landlords offering private rental accommodation will have to comply with new rules for electrical inspections, or face ‘tough financial penalties’ under government plans. Mandatory electrical checks must in future be carried out by competent and qualified inspectors,...
Which region saw the strongest growth in house prices in 2018?
With average prices rising by over £12K in 2018, this region is far outpacing London The West Midlands was last year’s regional house price winner, according to Halifax, recording a robust rise in house prices of 6.5%, compared to 5% in 2017. The region also boasted...
Number of registered homebuyers falls to six-year low
Brexit uncertainty is impacting the housing market, with supply, demand and sales all suffering Demand from prospective buyers its lowest level for the month of November since 2012, according to NAEA Propertymark. The trade association for estate agents said that the...
Low deposit deals fall to record low rates
Borrowers without a large deposit are benefitting from a wider choice of deals and lower rates The average two-year fixed rate for borrowers with just a 5% deposit is at a record low, according to Moneyfacts. The financial information provider said that two-year fixed...
Borrowers on SVRs could save £4,500 in mortgage interest a year
How switching mortgage could save you £4,500 a year More than two million mortgage borrowers sitting on standard variable rates (SVR) could save a typical £4,500 a year by moving on to a better fixed rate, analysis has shown. Mortgaged homeowners on SVR deals usually...
Budget 2018: Hammond adds £500m to housing infrastructure fund
Chancellor Philip Hamond has detailed the numbers his government has promised to spend in the pursuit of building more houses. “I can announce today a further £500m for the housing infrastructure fund to unlock a further 650,000 homes,” Hammond said as he delivered...
Estate agents pressuring buyers to use in-house brokers and charging 8% commission on auction sales – HOA
The Home Owners Alliance (HOA) has revealed it is examining cases where consumers have been charged massive rates of commission by estate agents when conducting auctions on individual property sales. The consumer representation group also highlighted the continuing...
Government launches new build ombudsman to protect buyers
"New homes should be covered by an Ombudsman, as consumers have no idea that when they buy a new home directly from a developer they will have no access to a redress scheme. " Secretary of state for housing, communities and local government, James Brokenshire,...
Which Northern city has seen the fastest rate of house price growth this year?
Prices are growing fastest in the UK's most affordable cities Liverpool is the fastest growing city for house prices in the UK, with an annual rate of inflation of 7.5%, according to Hometrack. The Northern powerhouse is followed by Glasgow (7.2%) and Nottingham...
Help to Buy ISA flaw delays 45,000 first-time buyers
One in four first-time buyers claim the government’s Help to Buy ISA is misleading and unhelpful because savings can’t be used towards a deposit for a home. Research from OneFamily suggests this flaw has delayed 45,000 first-time buyers from getting on the housing...
Government pledges £2bn of extra funding for housing associations
As extra £2 billion will be available for housing associations from 2022 to build and manage tens of thousands of properties. Speaking at the National Housing Federation (NHF) Summit today, Prime Minister Theresa May commented that social housing is not the tenure for...
1.8% house price growth for third consecutive month
Monthly prices rose modestly in August, according to the latest house price index from LSL Property Services and Acadata. Prices were up just 0.1%, but the report said this was enough to put an end to consistent falls seen every month since March. Regional variances...
House prices still recovering from financial crisis
The latest UK Cities House Price Index House from Hometrack has found that prices in a quarter of the UK’s largest cities are struggling to recover to the level they were at during the height of the financial crisis. Prices in Belfast, Liverpool and Aberdeen are still...
As house prices continue to rise in the UK so too does the value of building land
The price of land for house building is continuing to rise in the UK but house price growth is now outpacing land value growth, having run in parallel since the economic downturn, the latest analysis shows. The growth in land values is led by a rise of 4.8% in...
Don’t be scared to haggle on estate agent fees!
You don't have to accept the first fee presented to you, as many agents will be prepared to negotiate High street estate agents cashed in on almost half-a-billion pounds over the past 12 months, over our reluctance to haggle over fees, said Housesimple.com. The online...
