Latest News

Winter weather precautions

20 January 2021

Propertymark Industry Supplier, Gallagher offers practical steps that can help agents and their clients reduce the risk of damage to property as areas of the nation are set to see further warnings of more inclement weather to come. Damage caused by the escape of water from frozen pipes and other equipment can be extremely costly in repairs and disruption. Read More...

Concerns raised over new energy efficiency proposals

20 January 2021

Propertymark has responded to the UK Government’s consultation on Improving the Energy Performance of Privately Rented Homes in England and Wales by highlighting a number of concerns. These relate to affordability and the need to look beyond a one-size fits all policy and develop proposals that work with the different age, condition, and size of properties in the private rented sector. Read More...

Change smoke and carbon rules for earlier checks

19 January 2021

Propertymark has responded to the UK Government’s consultation on extending the Smoke and Carbon Monoxide Regulations in England, arguing that the rules should be amended so that landlords and agents must make sure the alarms are tested prior to the start of the tenancy and not on the first day of each new tenancy. Read More...

Licensing schemes are irresponsible in the current climate

19 January 2021

Propertymark has responded to a number of licensing scheme proposals from local authorities across England in recent months arguing that Councils who are pursuing the implementation of licensing schemes are being socially irresponsible. This is because in these unprecedented times landlords and agents are not able to comply with the requirements and Council resources are unlikely to be able to effectively enforce them. Read More...

The Letting Partnership commend agents on the crucial service they provide

19 January 2021

Propertymark Industry Supplier, The Letting Partnership, a specialist provider of client accounting and Client Money Protection services, outlines why letting agents should stand proud as we begin 2021and take stock of the vital role they perform during the challenges presented by the pandemic. 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.

Quote mark

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

Quote mark

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