You are here: Home - Mortgages - First Time Buyer - News -

Conservative manifesto extends Right to Buy and standardises shared ownership

0
Written by:
26/11/2019
The Conservative Party election manifesto has set out a raft of housing policies including rolling out Right to Buy for housing association tenants, standardising shared ownership and extending Help to Buy to 2023.

A future Conservative government would evaluate new areas for voluntary Right to Buy for housing associations, building on a successful pilot of the scheme in the Midlands. It would also maintain Right to Buy for all council tenants, it said.

The party’s manifesto outlined plans to reform shared ownership by setting a single standard for all housing associations, thereby making the scheme simpler and more transparent.

Additionally, the Conservatives would extend Help to Buy from 2021 to 2023 and “review new ways to support home ownership following its completion”.

Buyers, renters, builders

Other housing-related policies included continuing with leasehold reforms such as banning sale of new leasehold homes, restricting ground rents to a peppercorn and providing mechanisms of redress for tenants.

The party’s “better deal for renters” included abolishing no fault evictions and establishing a single, lifetime deposit which would move with the tenant.

This was accompanied by strengthening rights of possession for landlords.

Additionally, it said a majority conservative government would increase the number of homes built to 300,000 a year by the mid-2020s, bring forward a Social Housing white paper and renew the Affordable Homes Programme.

It would also seek to make planning simpler and support modern methods of construction.

Last week, the Conservatives outlined ideas to encourage a market for lifetime fixed rate mortgages, a policy which left brokers unconvinced.

“There are more than three million people, many of them with good jobs and secure prospects, who would have been homeowners before the economic crisis in 2008 but have be locked out of the mortgage market,” the Conservative manifesto stated.

Home ownership was “one of the most fundamental Conservative values,” it added.

 

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Seven ways to get help with energy bills this winter

We knew today’s announcement was going to be painful, but it’s still a shock to the system. When this kick...

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week