The Help to Buy scheme has been extended to compensate for the delays in building work due to the coronavirus outbreak. Under the current scheme, work on new homes would have to be finished by the end of December – the extension will mean the deadline will now move to 28 February 2021. The deadline
High Court has settled a dispute between a father and son over whether money was ‘loaned or gifted’ to buy a home. The father had been a successful builder and property developer who owned numerous residential properties. He and his son had been directors of a building company which owned a commercial property; the son
New proposals have been put forward by industry insiders to improve the process of buying and selling homes. The Home Buying and Selling Group (HBSG) – made up 120 organisations advising the government – has drafted a memorandum for the “smooth operation of the residential property market in the UK”. The proposals, in what would
The Affordable Homes Scheme, which is designed to get more families on to the property ladder, is being extended for a further year because of the coronavirus pandemic. It’s estimated that the building of 53,000 new affordable homes has stalled due to delays in the construction industry caused by lockdown. The Government is stepping in
A digital questionnaire designed to make home moving ‘cheaper, quicker and less stressful’ is now being tested in a pilot scheme. The Buying and Selling Property Information (BASPI) has been developed by the Home Buying and Selling Group, an organisation made up of property specialists including solicitors, estate agents and mortgage advisers. The idea is
The government is planning the cut the cost of some new homes by nearly a third to help first-time buyers on to the property ladder. The First Homes scheme will lower deposit and mortgage requirements for local first-time buyers in England. It’s hoped that people will be able to buy a home in their area,
The Forces Help to Buy scheme, designed to help military personnel get on the housing ladder, has been extended until the end of 2022. The scheme has lent £280m to more than 18,000 armed forces applicants since its introduction in 2014. It allows military personnel to borrow a deposit of up to half of their
More and more parents are taking legal action to recover money they lent to their children to buy a home, according to research by the Times newspaper. It says there are now up to 15 cases a month compared with only 3 cases a month five years ago. Many of the disputes involve parents trying
The government has pledged to provide more affordable homes and to clamp down on leasehold abuses on newbuild properties. The measures were announced in the Queen’s Speech at the start of the new parliament. The new First Home scheme will be designed to make homes available at a discount for local first-time buyers. Councils will
The government has issued a comprehensive guide on How to buy a home. The guide focuses on freehold properties and will be particularly useful to first time buyers. It takes you through the various stages of the process, beginning with how to work out how much you can afford. It also looks at the various