In this month’s Property Surveying Newsletter … we look at how home owners are being asked to sign settlement agreements, discuss the stamp duty holiday and rethink traditional views towards mortgages.
The property market fact file is a collection of data compiled each month by our Chartered Surveyors and the propertysurveying.co.uk team, reflecting survey data, statistics, trends and information from the property market. This provides a single place where anyone with an interest in UK property can find the information they need.
The chairman of the Parliamentary Housing Committee says home owners are often being asked to sign settlement agreements before housing developers will carry out repair work on new builds.
The Welsh government has passed legislation to permanently extend eviction laws, including the notice period landlords must give tenants to leave their property. Under the Renting Homes (Amendment)(Wales) Bill, tenants will also be able to sign up to a minimum twelve month rental contract.
A flurry of 40 year fixed rate mortgages is expected to become available to offer property buyers longer term mortgages with a deposit of just 10% in a ‘deal for life’.
The first Covid lockdown in 2020 caused the housing market to grind to a halt, leaving property transactions in limbo and home buyers and sellers unable to move house. But has the stamp duty holiday really helped the housing market or home movers?
The cost of building affordable homes in London has tripled, according to the mayor’s office, which blamed Brexit and the cladding crisis for the failure. The properties currently being built will be offered as social rented, shared ownership or ‘London living rent’ homes that let people save for a deposit before moving into home ownership.
An attempt by the House of Lords to force the government to pay for fire safety work on buildings with unsafe cladding before reclaiming the money from developers has been thwarted by MPs. The amendment would have made developers, construction companies and cladding manufacturers responsible for unsafe cladding.
Most homeowners would agree that finding fungi in the house is far from ‘fun’. However, there are some uses of fungi that homeowners might find useful.
And finally …
Nearly a million for a two/three bedroom, two bathroom terrace in Shepherd’s Bush but it won’t suit everyone. Why? Central London’s narrowest house is only 7 feet wide!
Written by Independent Chartered Surveyors
of the UK wide network of Property Professionals
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