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Seller&#39s pack cast aside for now but LTC bill gets through

The dissolution of Parliament ahead of the general election has led to

seller&#39s 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&#39 report

has been put on hold.

The failure of the Homes Bill, which contained the proposal for seller&#39s

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&#39s 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

introduced.”

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.”

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