UK Mortgage & Property Related News
The housing minister, Matthew Pennycook, and economic secretary to the Treasury, Lucy Rigby, will meet with senior representatives from major high street banks today, as the government steps up efforts to increase homeownership and expand access to affordable housing under its Plan for Change.
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Government business managers have agreed the date for the final stage of the Renters Rights Bill to be considered by MPs.
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Santander UK has reported it saw a 130% increase in mortgage applications in Q4 2024 compared to Q4 2023, as buyers rush to secure a property purchase during the Government’s stamp duty holiday.
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The government is set to introduce a bill in the Commons next week which will ban landlords from evicting tenants without a reason. (no-fault evictions)
Ministers are expected to bring the Renters’ Rights Bill for its first reading.
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During the recent general election campaign, one key point of difference in the parties’ housing policies was that the Conservative Party pledged to introduce a new Help to Buy scheme, whereas Labour proposed alternative housing policies, largely focused on social rent.
Now elected, Labour is already pushing ahead with housing initiatives including greater powers and flexibilities in the Affordable Homes Programme, increased local authority funding for housing (to be announced in the next Budget) and changes to the Right to Buy.
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