Currently viewing the tag: "residential property purchase"
UK Housing Minister Promises No Property Purchasing Reforms

UK Housing Minister Promises No Property Purchasing Reforms

UK housing minister Mark Prisk has stated that the Government has no plan to reform the property buying process in England and Wales.

Answering a question from Welsh Tory MP Alun Cairns in the House of Commons, Mr Prisk, a former chartered surveyor, dismissed any idea that he considered the Scottish system superior.

Mr Cairns asked the Secretary of State for Communities and Local Government (CLG) what consideration the department had given to reforming the residential property purchase system; and what assessment had been made of the same process in Scotland.

Mr Prisk replied that there were no current plans to change the current residential property buying and selling system in England and Wales, where properties are sold ‘subject to contract’.

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Council of Mortgage Lenders Give Reasons For Optimism In 2013

CML Give Reasons To Stay Positive About UK Property Market In 2013

CML Give Reasons To Stay Positive About UK Property Market In 2013

The UK Council of Mortgage Lenders (CML) are more positive about the UK housing market and the wider economy than they were a year ago, despite economic headwinds and downside risks.

A key reason is that mortgage lenders currently face few funding pressures, in part reflecting the governments funding for lending scheme.

Property purchasing activity was more robust than expected in the last quarter of 2012, on the back of better mortgage availability and more realistic property pricing, and the CML expect this to continue over the coming months.

2013 started on a more positive note than a year ago, even though the UK economy has barely grown.

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