The Conservatives have this morning announced a reform of the house buying process in the party’s manifesto for the June 8 General Election.
Pledges are low on detail but under the section called ‘Fair Markets for Consumers’ the manifesto says:
- “A Conservative government will reform and modernise the home-buying process so it is more efficient and less costly”;
- “We will crack down on unfair practices in leasehold, such as escalating ground rents”;
- “We will also improve protections for those who rent, including by looking at how we increase security for good tenants and encouraging landlords to offer longer tenancies as standard”.
Under a 'Homes For All' section, the Tories promise:
- “We will meet our 2105 commitment to deliver a million homes by the end of 2020 and we will deliver half a million more by the end of 2022”.
In the 88-page document there is one reference to the proposed ban on letting agents’ fees levied on tenants in England - confirming it will go ahead.
Elsewhere the manifesto pledges that equalities law will be strengthened so that private landlords who deny people a service on the basis of ethnicity, religion or gender are properly investigated and prosecuted. There is also a commitment to upgrading all fuel poor homes to EPC band C by 2030.
Additionally, the party says it will support local authorities and housing associations to build “a new generation of fixed term, high quality council homes linked to a new right to buy [scheme] for social tenants.”
Under the deals, the Conservartives would give councils and housing associations funding via the Homes and Communities Agency. Using reformed compulsory purchase orders, they could assemble sites but social homes built on them would be sold after 10 to 15 years, “allowing increases in land and housing value to be reinvested in new social housing over time.”
The tenant would receive the first right to buy on the property at the point of sale.
You can see the full manifesto here.
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"modernise the home-buying process so it is more efficient and less costly” One of the most costly aspects of home buying is Stamp Duty, is it not?
"Pledges are low on detail" and the Conservative leadership is avoiding the general public as much as possible.
They are looking to kick off a new government with a blank canvass that they cannot be held accountable for at a later date - "well we won a substantial majority, so you must have all wanted this..."
Page 59-
As Conservatives, we believe in markets as the best means to bring about prosperity and
innovation, but we should act firmly and fast when a market works against the interests
of consumers. Since 2010, we have capped the cost of credit for expensive payday lenders
and will shortly ban letting agent fees. We will now go further to reform markets in the
interests of consumers and reduce the cost of living.
Is it me or are the various parties throwing out bigger and bolder pledges with absolutely no substance or explanation to them? Pathetic moves to win votes with lies and no substance- hppe whoever wins is held to account for lying through their teeth to the (mainly ill-infirmed) British public.
We'd all love to see the buying/selling process modernised and sped up but, after numerous failed attempts by people much more intelligent and informed than our political 'leaders', I would love to hear how they intend to achieve this.
The conveyancing system in Australia, certainly in Victoria, is simple, fast, efficient & not too dear. Seller pays their conveyancer to prepare an exchange ready pack before they go to market. It is usually only about a dozen pages . They might provide a survey report if they feel like it but not compulsory as usually the buyer gets their own if they want. Mortgage lenders usually do little more than a drive-by. Seems to work well enough there so why not here?
Since late 2016 we have been developing a product to do exactly what you eluding to, although with a few more bells and whilstls! Biggest barrier that we encountered was the cost....... so we've got rid of it and will be offering it at no upfront cost!
We have managed to secure engagement for every single EA in an area of Derbyshire to trial the product!
We'll try and keep you posted regarding the outcome!
Kind regards Gareth Clarke
"looking at how we increase security for good tenants"
Landlords want to keep good tenants. You don't need to legislate for this
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