Changes to stamp duty announced in the Autumn Statement by Chancellor George Osborne have helped stimulate the housing market, according to solicitors and estate agents. Mr Osborne said 98% of people in England and Wales will now pay less duty when buying a property. Only those buying homes worth more than £937,000 will be worse
House prices rose by 12.1% in the year to the end of September, according to the Office for National Statistics (ONS). Prices increased by 0.5% on a monthly basis between August and September this year. The statistics only include homes that were bought with a mortgage. The increases mean that prices have been rising faster
Up to 10,000 new homes will be built between 2015 and 2018 as part of the government’s new Rent to Buy scheme. Housing associations will be able to apply for low-cost loans from a fund of £400m to finance the projects. They will then have 16 years to repay the loans, and during this time,
The Help to Buy schemes, launched by the government last year, have enabled nearly 40,000 people to buy their first home, according to official statistics. Help to Buy consists of two schemes which enable people to buy a property even if they only have 5% of the purchase cost. More than 48,000 people in total
The government is to introduce new measures that will make it easier for people to build their own home. Under the Right to Build scheme, people who want to build their own home will be able to get help from their local council to find a suitable plot of land. The scheme will be trialled
The government has sent information to social housing tenants reminding them of the Right to Buy scheme. The leaflets offer advice to tenants on how to exercise their Right to Buy and become first-time homeowners. The scheme allows social tenants in London a maximum discount of up to £102,700. The maximum discount in other parts
Many of the regulations relating to new house builds could be scrapped as the government tries to encourage the continuing growth of the housing market. Currently, builders of new houses must meet numerous specifications on how new homes should be built and what facilities they must include. Each local council is able to select the
The Law Society has launched a media campaign to highlight the importance of using a professional solicitor when seeking legal advice. ‘Use a Professional. Use a Solicitor’ is the tagline, and adverts will be appearing on numerous media outlets including television, railway stations and public buses. In recent years, various unregulated advisers and do-it-yourself legal
Council house tenants can now receive higher Right to Buy discounts following a government move to improve the scheme. Tenants in London can qualify for discounts of up to £102,700 off the value of their home. In other parts of the country the discount can be as high as £77,000. The discount caps will now
House prices rose by 10.2% in the year to June 2014, according to figures from the Office for National Statistics. Prices in England rose by 10.7%. The figure was 6% in Scotland, 4.9% in Northern Ireland and 3.5% in Wales. The survey showed that house prices rose strongly in most parts of the UK, but