Aviva and Persimmon have agreed to end unfair leasehold practices, following an investigation by the Competition and Markets Authority (CMA). It means that Aviva has committed to remove certain terms from its leasehold contracts that cause ground rents to double, and Persimmon will now offer leasehold house owners the opportunity to buy the freehold of
First time buyers are being offered discounted homes as part of a new government housing scheme. The First Homes scheme will help local first-time buyers on to the property ladder by offering homes at a discount of at least 30% compared to the market price. That same percentage will then be passed on with the
The Land Registry has introduced a new online service to provide estimated completion dates on property sales. It will enable our solicitors to keep clients better informed on when their sale or purchase is likely to go through. Estimated Completion Date is the latest enhancement to the View My Applications portal operated by the Land
The government is planning to give leaseholders more control over their homes by developing a new collective ownership system known as commonhold. The commonhold model is used widely around the world and provides a structure for homeowners to collectively own the building their flat is in, with a greater say on their building’s management, shared
The government has launched a new scheme to boost the number of affordable homes in England over the next five years. Its housing agency Homes England is seeking strategic partners with the ambition and capacity to deliver affordable housing at scale. Strategic partnerships are a way to access grant funding from Homes England through the
The government’s new scheme to help people buy a home with a 95% mortgage has now come into effect. It means buyers can now get on the property ladder even if they only have a 5% deposit. The mortgages are available to both first-time buyers and existing homeowners for houses costing up to £600,000. The
Two major home builders have been told to remove contract terms that mean leaseholders have to pay ground rents that double every 10 or 15 years. The Competition and Markets Authority (CMA) launched enforcement action against 4 housing developers in September 2020. These included Countryside Properties and Taylor Wimpey, for using possibly unfair contract terms,
Local councils in England have been given new powers to encourage them to build more affordable homes for first time buyers in their communities. The government has introduced a package of measures that will enable councils to fund homes using Right to Buy receipts, including homes for social rent, and give them greater flexibility over
A new watchdog organisation has started work to protect consumers by ensuring that developers deliver high-quality homes. The New Homes Quality Board (NHQB) is an independent body set up to introduce a new industry code of practice for builders and create the New Homes Ombudsman Service (NHOS) to support homeowners in disputes with builders. The
All new homes will have to meet stricter energy efficiency standards in future as part of the government’s commitment to reduce carbon emissions and protect the environment. Newbuild properties are expected to produce 75-80% lower carbon emissions compared to current levels. To ensure the building industry is ready to meet the new standards by 2025,