Latest News

Government extends support to stop business evictions in 2020

17 September 2020

Robert Jenrick, Secretary of State for Housing, announced yesterday, 16 September, that all commercial tenants will be protected from the risk of eviction until the end of this year. Read More...

Evictions post 20 September 2020

17 September 2020

The UK Government has published an updated form relating to property possession claims brought before 3 August 2020 that must be reactivated. These relate to claims already received by the court. Read More...

Mayor of London calls for a two-year freeze on private rents

16 September 2020

Today, 16 September, the Mayor of London, Sadiq Khan, wrote to the Secretary of State for Housing, Communities and Local Government, Robert Jenrick, calling the Government to give him the powers to freeze private rents as the economic fallout from COVID-19 continues. Read More...

10 years of Gas Safety Superheroes

16 September 2020

Propertymark advocates for only the highest standards in the property industry, and this week during Gas Safety Week, we want to highlight the impacts of not doing the proper checks on your properties. Read More...

Welsh Government extend rules on notice periods

16 September 2020

Letting agents and landlords in Wales must wait six months before they can start evictions it was announced yesterday, 15 September, except where anti-social behaviour or domestic violence is involved. Read More...

Housing Secretary unveils £12 billion boost for affordable homes

Tuesday 08 September 2020

Robert Jenrick, Housing Secretary, announced today, 8 September, new investment in housing to ‘help the country build back better’, including a new Shared Ownership scheme and homes for social rent to help the most vulnerable.

Half of the new homes will be made available for ownership from 2021 and there will be a revamped Shared Ownership scheme to make it easier for people to get a foot on the property ladder. The investment will include homes for social rent to help the most vulnerable and a consultation has been launched to make all new homes more accessible for the elderly and disabled.

Funding

A new £11.5 billion Affordable Homes Programme will be delivered over five years from 2021 to 2026, providing up to 180,000 new homes across the country. The programme will unlock a further £38 billion in public and private investment in affordable housing.

Nearly £7.5 billion will be delivered outside London by Homes England. This is over £2 billion more than the amount given under the previous Affordable Homes Programme. Homes England will publish their Affordable Homes Programme prospectus this week, inviting councils, housing associations and private providers to start preparing their bids.

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Today’s announcement represents the highest single funding commitment to affordable housing in a decade and is part of our comprehensive plans to build back better.

Thanks to the range of flexible ownership options being made available, more families across the country will be able to realise their dreams of owning their own home, with half of these homes being made available for ownership.

Rt Hon Robert Jenrick MP, Housing Secretary

Shared Ownership scheme

The new model will reduce the minimum initial share purchasers need to buy in a property from 25 per cent to ten per cent and will allow people to buy additional shares in one per cent instalments, with heavily reduced fees.

It will also have a ten-year period for new shared owners where the landlord will cover the cost of any repairs and maintenance.

A Right to Shared Ownership will be available on the vast majority of rented homes delivered through the new programme, providing tenants with a pathway into ownership by giving them the right to purchase a stake in their home.

Government announcement

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It’s positive to see the Government continue to invest in housing during this period. It is particularly important that as we try to boost the economy, we build a greater supply of affordable houses that can rejuvenate those areas across the country most affected by the COVID-19 crisis.

However, demand for housing continues to rise so the Government now needs to work to encourage people to move, continue to help people get on the property ladder and ensure that the property market drives forward the UK’s economic recovery.

Mark Hayward

Mark Hayward
NAEA Propertymark Chief Executive