Theresa May unveils planning process overhaul
The government has unveiled a major overhaul of planning regulations today in a bid to force local authorities to meet demand for affordable housing. Local authorities will be tested on the number of homes they deliver but will be given greater freedom to use existing...
First-time buyers save £27,000 buying over those renting
First-time buyers are saving an average of £27,000 buying a property over those renting over a 30-year term, almost as much as the average deposit (£31,751). The Halifax Buying vs. Renting Review found that the average cost including mortgage payments of buying a...
Bank of England warns interest rates set to rise sooner and faster, as economists forecast May hike
The Bank of England said interest rates will need to rise faster and sooner than previously projected, with the next increase now expected in May. Monetary policymakers unanimously voted to hold the base rate at 0.5% in February but used the latest inflation report...
Government to make it easier to build upwards
The government plans to make it easier to add an extra two stories to properties by loosening planning rules. The government said it wants to usher in a new generation of town houses and ease pressure on space in cities such as London and Manchester. Sajid Javid,...
Housebuilders take steps to plug skills gap
More than half of housebuilders are launching apprenticeship schemes to address the industry’s chronic shortage of skilled workers, a survey from Lloyds Banking Group has found. As the country embarks on a housebuilding drive, companies have repeatedly warned that...
Land Registry digital mortgage deed service now set for 2018
A new digital mortgage service is to be launched by HM Land Registry (HMLR) in 2018 that will enable borrowers to sign mortgage deeds digitally. This should speed up the remortgage process and improve the customer experience. The service was due to launch at the end...
Housing activity stagnates despite stamp duty cut
The UK housing market saw activity fall in December despite the first-time buyer stamp duty cut, the December 2017 RICS UK Residential Market Survey found. Some 86% across the UK said they hadn’t seen an increase in first-time buyer enquiries following a cut in stamp...
Government launches new housing agency
The government has launched a new national housing agency – Homes England – as the successor to the Homes and Communities Agency. Housing Secretary Sajid Javid says Homes England will "play a major role in fixing the housing market" and will develop a new commercial...