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Only “two dozen” zero-carbon homes in UK, Treasury admits

The Treasury has admitted that there are only around 24 zero-carbon houses in the UK at present, after yesterday’s pre-Budget report pledged to exempt those in new zero-carbon homes from stamp duty.

A spokesman said those homes can either be found in the Docklands in London or Meadows in Nottinghamshire.

Chancellor Gordon Brown yesterday said that from next year the vast majority of new zero-carbon homes will be exempt for an unspecified limited time period.

The Treasury has today explained that many large properties will not be exempt as the tax break is designed for those on lower incomes to enter the housing market. It says that once the fiscal measure has created a change in building practices, where all new homes are zero-carbon, then it will end the exemption.

A zero-carbon home is defined as one that does not constitute a drain on the National Grid so will have good insulation, solar panels, wind turbines or similar sources of generating energy.

A Treasury spokesman says: “There are only about two dozen zero-carbon homes but this is about encouraging people to build more zero-carbon homes. Within 10 years all new homes will be zero-carbon.”


FSA hits mortgage broker with massive fine

The Financial Services Authority has fined Home and County Mortgages Limited £52,500 for management failures and a lack of skill, care and diligence. The FSA found that one of HCML’s advisers had inflated customers’ incomes on mortgage applications and that HCML did not act quickly and appropriately to deal with the matter. There were also […]


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