The dissolution of Parliament ahead of the general election has led to
seller's packs falling by the wayside while proposals on long-term care
just scraped through.
The election also means that the announcement of the second Myners' report
has been put on hold.
The failure of the Homes Bill, which contained the proposal for seller's
packs, to pass through Parliament as a result of strong opposition in both
houses has been welcomed by the mortgage industry.
Intermediary Mortgage Lenders Association chairman John Heron says: “We
feel the measure was ill conceived, poorly researched and going to be badly
implemented. In short, we would be happy to see it sink without trace.
Legal & General housing PR manager Peter Timber-lake says: “It is highly
possible that the Homes Bill will be introduced in the next Parliament. It
should also be remembered that seller's packs are just one of a number of
measures aimed at improving the housebuying process.
“The momentum generated by the industry means that the pace of change in
the housing market will continue whether or not the Homes Bill is
The passage of the Health and Social Care Bill has been welcomed by
product providers and means that free nursing care will be introduced in
England and Wales in October this year.
Norwich Union long-term care strategy manager Sandy Johnstone says: “I am
deligh-ted the bill has been passed. It would have been very difficult to
envisage how things would have panned out if it had not.
“We now look forward to seeing the guidance issued on nursing care, which
is vital for advisers to people thinking of buying LTC.”