Whether you were elated or disappointed in the results of the election in December 2019, the new Conservative government has put forward some encouraging proposals to boost the housing market. This was highlighted in the Queen’s 2019 speech. The key points are as follows: 

• The Government is committed to building at least one million new homes. The details on how this will be achieved are due to be released through a consultation paper shortly.

• There was confirmation of the Government’s commitment to helping people purchase their dream home. It was highlighted that this would include the launch of a consultation on First Homes. First Homes aims to provide homes for local people at a discounted rate of at least 30 per cent which could “save first-time buyers tens of thousands of pounds”. More news is to follow in due course.

• The Affordable Homes Programme will be renewed. The aim of this scheme being to offset the risk of homelessness by giving increased access to housing through the local authority either by purchasing a property with a discount subject to you meeting a particular criteria or by renting the property. Your local authority can offer you further advice in that regard.

• The Shared Ownership Scheme will be reformed in order to make the scheme more accessible and the home-buying process more transparent. If you are looking to purchase a property through the Shared Ownership Scheme, our conveyancing team can provide you the relevant advice to help you decide if this scheme if best suited to you.

• There will be a warm welcome to the introduction of a programme to end unfair practices in the leasehold market. This will include making the process of buying a freehold or extending a lease easier, quicker and more cost-effective with the onerous and disproportionate demands of unregulated management companies. Our conveyancing team is on hand with any leasehold queries you may have and we will be offering further news and advice as the changes come in to force.

• There will be a close eye kept on the number of properties sold as a freehold rather than being subject to lease in order to avoid unnecessary ground rates. This should also offer a boost to the housing market in due course as a freehold property is much easier and less costly to sell than a leasehold one.

• Another warm welcome in the housing market is the extension of the Help to Buy scheme. This has been extended from 2021 to 2023. The Government has pledged to review this scheme again towards its proposed conclusion in 2023.

• There will be greater assistance provided to help people who want to build their own homes and find plots of land to build as well as accessing the Help to Buy scheme.

• The rental market is also due for a welcome boost as an overhaul is planned to ensure fairer rights to landlords’ and tenants’. In addition social housing will be reviewed to improve tenants’ rights and improve the quality of social housing. If you are experiencing any difficulties, either as a landlord or tenant, our dispute resolution team can offer you advice on the best course of action to resolve your dispute at an initial appointment for a modest fixed fee. 

If you require any further information on buying a property, please do contact me on 01325 466 794 or joa@bhplaw.co.uk.