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rollover

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  1. Home-seekers face stiff competition as TEN people compete to buy each property. On average 9.7 buyers are chasing every new property coming on the market Over 60% of first-time buyers are now aged between 25 and 34 England will face a shortfall of a million new homes by 2021 of which half will be in London and the South East
  2. London’s housing crisis comes to a head Latest figures on affordable housing show a tightening in London’s housing crisis: completions of new affordable homes slumped to just 300 a month during the first eight months of the current financial year. A new poll suggests that 82 per cent of Londoners believe that emergency measures are now needed. Earlier this month, figures from the Nationwide building society showed that London house prices rose 14.9 per cent in the previous year: that is exerting ever greater pressure on Londoners’ incomes, whether they are homebuyers or renters. The Mayor’s targets have slipped: he now looks unlikely to meet his goal of 100,000 new affordable homes in two terms of office, and in any case even that target does not come close to meeting demand. The situation has been aggravated by the sell-off of council homes and the inability of councils to spend the proceeds on new housing. That has led to the situation described in a report today by London Assembly Member Tom Copley. He points out that more than a third of homes sold through Right to Buy in London are now let by private landlords. Solutions such as more shared ownership will have a role. But ultimately the only answer is to build more new homes: most estimates put the total number London needs each year at around 50,000. That will require more extensive and imaginative use of brownfield land, though that will not prove enough: we will also need to consider building on the green belt. Today’s poll suggests that housing is now the most pressing issue for Londoners: at the next mayoral election, they will demand serious solutions.
  3. End of Help to Buy could crush housing boom, warn builders The nascent recovery in housebuilding could be all but extinguished when the Government's Help to Buy scheme to support the market ends in 2016. The Construction Products Association called for clarity from the Government on the future of the initiative as its latest forecasts predicted a sharp slowdown in new housing to just 2 per cent in 2016 – when Help to Buy is due to finish – following double-digit growth this year and next. Growth in private housing work is set to slow rapidly after Help to Buy, according to the body’s economics director Noble Francis. Since April last year the Chancellor’s Budget centrepiece was government loans of up to 20 per cent on new builds, funded by a £3.5bn pot to underwrite an estimated 75,000 purchases. As of December, there were 18,000 reservations since April under the first stage of the scheme. “After 2015, without Help to Buy to support housing market demand, there are strong concerns about whether house building will continue to improve despite the clear need for new housing,” Dr Francis said. Private housing starts in Britain declined more than 7 per cent to to just 94,000 in 2012, 35 per cent below the average of the last 20 years. By 2017 the association’s forecasts suggest 153,000 private housing starts and 30,000 public starts – only three-quarters of the 240,000 homes needed to meet the number of households created each year, according to the Office for National Statistics. Dr Francis added: “2016 is a very big issue for the housing market. I think that for the housebuilders and the wider industry as well as mortgage lenders everybody would benefit if there was greater clarity for the medium term.” The Bank of England, which is opposed to any extension of the scheme, is monitoring Help to Buy and can make recommendations to halt it if it judges risks to financial stability are growing. The Bank has already stopped banks from using its Funding for Lending scheme to access cheap cash to fund mortgage loans.
  4. If you put your legs into freezer and your head into oven, in average you should feel good. But for some reason you don't .
  5. Does removal of funding for lending really matters? FFL introduce 95% loan to value mortgages the banks were crying for.
  6. Hey baby! We can also cut back on costs to shift our debts and pay less to borrow from changing credit cards to moving our mortgage.
  7. One in four British babies born to foreign mothers and Two-thirds of London babies born to foreign parents
  8. Keep going ....... just keep going ......, do not give up before the day of next election!
  9. " the strength of Ireland's international reputation" What? 12,5 % unemployment and the total mortgages in arrears and permanently restructured 20% + Who is buying Ireland 10-year bond's for 3.54% ?
  10. Time to lower credit rating for people with a poor credit history to be able to get a standard mortgage at a lower rate. What could possibly get wrong?
  11. Lack of new homes has led to buyers scrambling to buy property, pushing up prices by £14,000 on average this year Despite deepest recession in history a flat or house in some areas is now double what it was in 2008 Winners are London, south-east and East Anglia, but Scotland, the North and Midlands suffer decline or stagnation Experts believe prices will rise by eight per cent next year and by up to 30 per cent by 2018 Savills predicts that next year there will be a rise in prime properties, followed by a lull in 2015, before more sustained growth on homes worth in excess of £800,000 today I just wonder, who can still pay the high prices. Link
  12. 1. Man who created own credit card sues bank for not sticking to terms 2. Cost of raising a child hits record £222,000 3. 10 well paid jobs of the future 4. Black Friday: the best deals and discounts in the UK 5. Royal Mail shares: How to buy at the last minute 6. Best paid jobs in the UK 7. Janice Dickinson bankrupt: The other celebrities who went bust 8. Royal Mail: I bought my shares on the government website. How do I sell? 9. Michaela Strachan: 'I made £10,000 in five days' 10. Royal Mail privatisation shares: A list of stockbrokers and their costs 11. Pay no tax, live abroad... and get a UK pension 12. Martine McCutcheon declared bankrupt 13. Invest £4,750, receive £5,000 every year for life 14. Is Aldi's £55 Glen Orrin whisky really worth '£200'? 15. HMRC publishes pictures of Britain's top tax cheats 16. Kate Silverton: 'I cleared my mortgage in three years' 17. Mark Boyle: How I lived by spending nothing for two years 18. Westlife singer Shane Filan on life after his £18m bankruptcy 19. Buy gold, they say but how do you sell it? 20. 'There will be more wealth confiscation, without a doubt' Saxo Bank's Lars Christensen 21. Amanda Lamb: 'Divorce cost me my dream home in Cornwall' 22. Banks 'dump' thousands of loyal customers 23. Royal Mail shares: pros and cons 24. Kerry Katona declared bankrupt for second time in five years 25. Loophole: 'I'll never have to repay my student loan' My link
  13. More Romanian and Bulgarian immigrants would be welcome - push up unemployment, interest rate to stay low, boost rental and keep high house prices. It will be a win-win for everyone.
  14. Ed Miliband promises drive to double rate of housebuilding Labour leader attacks 'stick-in-the-mud councils' and accuses property developers of hoarding land to push up its value. Profiteering property developers that hoard land and councils that block developments will be swept aside in a "non-stop drive" to more than double the number of homes being built each year in England. Miliband will point out that the profits of the four biggest housing developers have soared by 557% this year. He will accuse them of hoarding land to push up its value, with homes being built at the slowest rate witnessed in peacetime for almost a century. Miliband is taking the political risk that the country is in the mood to give priority to housebuilding, both private and public, over the interests of those who lobby to halt expansion in their area. we will tackle those councils that block homes, those developers that hoard land and this government that fails to act on the worst housing shortages for a generation. We will stand up for homebuilders and first-time buyers. Link Miliband's plan to increase housebuilding: the five big ideas 1. "Use it or lose it" powers to tackle land hoarding At present, there are 523,700 homes with planning permission that have not been completed. One reason for this is the practice of land banking, with investment funds, historic landowners and developers sitting on vacant land and waiting for its value to go up. Miliband will today highlight figures showing that the profits of the four biggest developers - Barratt, Berkeley, Persimmon and Taylor Wimpey - have risen by 557% since the coalition took office. The number of houses completed by these firms increased by just 4,067 in 2012 and the number of affordable homes built last year fell by 26%. 2. A new "right to grow" for councils Miliband will aim to tackle what he calls "home blocker" councils by introducing a new "right to grow." Of course it is right that local communities have a say about where housing goes. So the next Labour government will unblock this planning process and unlock the potential to build tens of thousands of new homes where they are needed." 3. Providing Treasury guarantees for new towns and garden cities Labour plans to help local authorities design and build new towns and garden cities by offering Treasury guarantees modelled on those currently used for Help to Buy and infrastructure projects. "The government is providing guarantees of up to £12bn for Help to Buy. He should now step up to the plate to back the supply of new houses in New Towns. 4. Reforming finance rules to allow more council housing to be built Labour has promised to "simplify rules surrounding the Housing Revenue Account to give local authorities more flexibility in how existing public funding is spent". Labour councils in London are currently building twice as many houses as Conservative local authorities, three times as many as Liberal Democrt ones, but they're frustrated that they can't build more because of the Housing Revenue Account cap." The Chartered Institute of Housing estimates that raising the caps by £7bn could enable the construction of 60,000 homes over the next five years, creating 23,500 jobs and adding £5.6bn to the economy. Other options include allowing local authorities to share services and to pool their borrowing limits so councils who want to build more, but have reached their limits, are able to do so. 5. A self-build revolution Influenced by the example of France, where more than half of new homes are constructed by their owners (and where 341,808 in total have been built in the last year), Miliband will call for a "self-build" revolution to reduce the dominance of the big four developers and to help expand supply. The Lyons Commission will look at giving councils the right to stipulate that a portion of development land is sold directly to people who want to build themselves. But will it be enough? England, is actually a failure to keep up with predicted housing need, which is itself likely to be an underestimate of housing demand. A young person living at home with their parents but who wants to leave might be seen as having a 'demand' or 'need' for housing, depending on how this is defined. They are not homeless, but they want to move out." But by focusing relentlessly on expanding supply, while the Tories focus on inflating prices through Help to Buy, Miliband has at least got his priorities right. Link UK housebuilders counter Ed Miliband's land-hoarding claim The industry said plots are built on as soon as planning permission is secured, and argued that the 557% increase in profits among the nation's four biggest housebuilders this year comes from a very low base following the financial crisis. Pete Redfern, chief executive of Taylor Wimpey, said: "The industry is only just returning to the point where it is meeting its cost of capital following the most prolonged downturn in housing history. "The comparison used for profitability is against a point where many in the industry were loss making, so a percentage improvement is rather meaningless." The biggest four developers by turnover – Barratt, Berkeley, Persimmon and Taylor Wimpey – have a collective land holding of almost 300,000 plots. UK housebuilders counter Ed Miliband's land-hoarding claim. Plots are developed as soon as they have planning permission and 557% profit rise 'comes from very low base'. Britain's biggest four developers – Barratt, Berkeley, Persimmon and Taylor Wimpey – have a collective land holding of almost 300,000 plots. Photograph: Matt Cardy/Getty Images. The industry said plots are built on as soon as planning permission is secured, and argued that the 557% increase in profits among the nation's four biggest housebuilders this year comes from a very low base following the financial crisis. Pete Redfern, chief executive of Taylor Wimpey, said: "The industry is only just returning to the point where it is meeting its cost of capital following the most prolonged downturn in housing history. "The comparison used for profitability is against a point where many in the industry were loss making, so a percentage improvement is rather meaningless." Britain's chronic housing shortage is expected to push up prices by as much as 8% next year according to the property website Rightmove, unless a flood of new properties are built. The biggest four developers by turnover – Barratt, Berkeley, Persimmon and Taylor Wimpey – have a collective land holding of almost 300,000 plots. Miliband is accusing housebuilders of holding on to land to push up values, and claims some "stick-in-the-mud councils" are blocking development. Link
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