OMG! Government announces major changes to property

publication date: Jul 1, 2019
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

OMG! Government announces major changes to property 

 

Last week the Government announced a huge number of changes to the way we buy, sell and lease property.

 

These changes have either been in consultation for some time and we are now finding out the results, or they are new consultations for future changes.

 

I thought you might like to first see perhaps one of Theresa May's last big statements before she steps down, and I'm sure you'll be pleased to hear that apparently this Government has done lots to deliver a better housing market(!). I look forward to your thoughts. To be fair, this is a 20 minute video and if nothing else you should watch the first few minutes because it does show that Theresa May has a real sense of humour.

 

Theresa May's summary of her success in housing

 

Leasehold consultation response

Over the last 18 months, alot of people have been working extremely hard to look at how we can improve the leasehold/freehold relationship.

 

Some time ago, I sent out a consultation which asked for your views and ideas on how to achieve this. Below is the official response from the Government which explains all the planned changes to owners of leasehold properties and their freeholders.
Read the official Government response here

 

Two of the key changes are:

  • Leasehold axed for all new houses
  • Freeholders and managing agents must supply vital leasehold information within 15 days and at a maximum fee of £200 for anyone wishing to buy/sell a property.

Read all the details of the two key changes here

 

We work closely with ALEP (Association of Leasehold Enfranchisement Practitioners) whose members work hard to look after leaseholders, and they have kindly given their expert assessment on the new announcements the Government have made. For anyone who owns or lets a leasehold property it is essential to make sure you are up to speed with these changes.
Read ALEP's response to leasehold changes here

 

New Homes Ombudsman

And last but not least from the Government, I'm thrilled to announce the consultation is now open to create a New Homes Ombudsman. If you have bought a new build property and do not feel that you have been properly looked after by the developer, this is YOUR opportunity to input into how complaints against developers will be dealt with in the future. Lots of the property industry professionals will be giving their view but what the Government needs in addition is consumer feedback.

Please give your feedback here

If that's not enough for you to get your head around, the gorgeous Phil Spencer has produced a video to tell you all about how the surveying industry would like your thoughts and views on the services they offer, now and in the future. There is a consumer survey and a professional version to fill in, so please don't let Phil down - we need your help to shape the future of surveying! 

 

Phil Spencer on surveyors’ standards consultation

Take the consumer survey here

 

Phew! I hope whether you are a consumer in the property market or a professional, you do feel that both the Government and industry are working hard together to try and change the home buying and selling process. I know if you're in the private rented sector you will be feeling frustrated at the current changes, however, myself and other professionals will continue to try and improve the sector for tenants, landlords and agents as best we can, but this is not very easy at this moment and time.

 

 

How to choose a leasehold legal expert -
ALEP
Passing on your property wealth -
Chase de Vere
Buy to let tax -
Nicholsons
  Buy to let tax checklist

 


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Which? Property books and one of the UK's top property experts.
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