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Doubt removed on Hips but FTBs face problems

A smaller majority may dent Labour’s plans to expand the nation’s housing stock but the market’s focus remains firmly fixed on first-time buyers, the economy and home information packs.

E-surv Chartered Surveyors head of business development Richard Sexton says the election removes any doubt over whether housing information packs will be implemented and lenders must decide now whether to outsource or create them in-house.

A key issue is the economy and interest rates. The Royal Institute of Chartered Surveyors warns that the Government budget deficit must eventually be met by raising taxes, which will put pressure on disposable income at a time of moderate growth and limit housing demand.

Derbyshire Building Society head of intermediary support and development Tony Capon believes there is still not enough being done for first-time buyers. He says: “The Chancellor recently doubled the stamp duty threshold only when pressured to do so and has given no indication he will raise it further.”

Hamptons International associate director Jonathan Cornell says: “It is unlikely they will find a way of helping FTBs get on the ladder that does not involve building Lego houses. One thing that continues to fill me with dread is the increasing amount of red tape which pervades the UK economy.”


Rates on hold for another month

The Bank of England’s Monetary Policy Committee has decided to leave rates on hold for another month.The current interest rate is 4.75 per cent.The Derbyshire head of intermediary support Tony Capon: “The logic behind leaving rates on hold is that the MPC is seeing continued evidence of a slowdown in both industrial and retail economic […]

Which? finds varying valuations

Which? reveals property valuations can vary by as much as 125,000 in an expose inviting 56 estate agents to value 14 properties across England last December.In six of the 14 homes, the difference between the highest and lowest value given was 25 per cent. Both undervaluing and overvaluing were rife problems, with agents attempting to […]

Capita launches into loss adjusting market

Capita Group is launching a new business focussing on the high-end corporate and complex loss adjusting market.The new division, named Teceris, will be within Capita’s Insurance Services arm and will target major corporations, affinity groups, Government and the commercial insurance market at a national and global level.Capita director Stewart Steel will head Teceris.


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