Home Buying news: page 3
- June 2022
Leasehold Reform (Ground Rent) Act 2022 comes into force
The Leasehold Reform (Ground Rent) Act 2022 came into force on 30 June 2022, ending financial ground rent on most new long residential leases in England and Wales.
Building Safety Act 2022 leaseholder protections come into force
Financial protections for leaseholders in buildings at least 11 metres or five storeys high with historical safety defects took effect on 28 June 2022 under the Building Safety Act 2022.
Leasehold Reform (Ground Rent) Act 2022 comes into force
The Leasehold Reform (Ground Rent) Act 2022 came into force on 30 June 2022, ending ground rents on most new residential leases in England and Wales.
Stamp Duty holiday ended, equity withdrawal for purchase fell away
Equity withdrawal at remortgage to fund additional property purchases fell back towards pre-pandemic levels after the temporary Stamp Duty holiday ended, UK Finance's Q1 2022 review reports.
- April 2022
Social rents set to rise by up to 4.1 per cent, the largest rise in a decade
Social rents in England can rise by up to 4.1 per cent from April 2022 under the CPI plus 1 percentage point cap, the largest increase in a decade, adding £202 a year for the average social renter family.
- February 2022
First Homes scheme launched as new Government scheme
The Building Societies Association has published a factsheet on the First Homes scheme, a government programme offering homes to local first-time buyers and key workers at a discount to market price.