After the invasion of Ukraine, the UK Government took steps to address growing concerns of money laundering and other economic crime from Russian and foreign entities operating in the UK or with UK companies. This led to the introduction of the Economic Crime (Transparency and Enforcement) Act in March 2022.
The Department for Science, Innovation and Technology (DSIT) has published findings following a public dialogue, with simplicity, keeping control of personal data and robust complaints procedures emerging as key issues for digital identity services.
Concerns were raised about the absence of central elements of the promised reforms when the Bill was first introduced to Parliament in November 2023. The UK Government said it would bring in amendments as it made its way through the Parliamentary process, but whilst a ban on new leasehold houses is now added, Housing Minister Lee Rowley, MP, stated restrictions on ground rent are still being considered.
The new year has arrived and those who had delayed moving at the end of last year have returned to the market on mass. However, there has been little change in the economic environment that households must contend with. Interest rates are stable but are higher than those seeking mortgages or re-mortgages would prefer and inflation remains some way off UK Government targets.
A series of draft amendments from Conservative backbench MPs reflect fears that the Bill will cause landlords to sell up, reducing the number of rental properties available. The proposals include making it a legal requirement that an impact assessment on the courts must be published by the Justice Secretary before a ban on no-fault evictions could be implemented.
The Competition and Markets Authority (CMA) has published a report on housebuilding and found the dominance of speculative private development paired with complex, unpredictable planning rules is the major cause of the long-term shortfall of new homes in the UK.
Email and secure messaging are HMRC’s main means of contacting agents about their AML supervision. They provide regular updates and alerts to support compliance with the Money Laundering Regulations and notifications if an account requires action or needs to be reviewed, so it is crucial that contact email addresses are kept up to date.
Sellers bypassing the introducing agent in a sale costs the industry an estimated £4bn a year in lost fees. But what can agencies do to get their hard-earned commission back? Find out more in this issue and do we need more regulation or just better enforcement? We asked industry stakeholders to contribute their thoughts on issues affecting our members.
The UK Government is currently consulting on the implementation of Awaab’s Law, which was passed in response to the tragic death of two-year-old Awaab Ishak in December 2020 from exposure to serious mould in his parents’ social rented home.
Homeowners are surrounded by messages about the urgency of taking green measures in their properties, and insulation should be a high priority. However, mortgage lenders are increasingly taking a zero-tolerance approach to spray foam insulation and are declining applications.
The Department for Levelling Up, Housing and Communities (DLUHC) carried out a first consultation on the implementation of the levy which closed on 7 February 2023. The current technical consultation concentrates on the methodology for levy calculation, the collection process, disputes and appeals and further exemptions.
A mandatory national register and a requirement for planning permission will give local authorities in England the ability to measure the impact of holiday lets in their area and to restrict the proliferation of new lets to protect access to permanent housing for local people.
The Affordable Homes Guarantee Scheme 2020 has had a boost of £3 billion to provide low-cost, flexible, and long-term loans to help fund investment in new and existing affordable homes across England, including those for social rent, affordable rent, and shared ownership.
The UK Government has opened a consultation which proposes amendments to permitted development rights that remove barriers to the installation of air-source heat pumps and charging points for electric vehicles. Changes to the rules on altering and extending properties are also put forward to ensure they provide flexibility for householders as well as change of use is encouraged to turn derelict and under-used buildings into new homes.
Every council in England will be told they must reduce bureaucracy and be more flexible on planning proposals that boost housebuilding in urban areas, in line with the UK Government’s long-term plan for housing.
From 1 March over 200 new members from across the Belvoir Group will become Propertymark Protected, enhancing their existing commitments to honesty, transparency, professionalism and going the extra mile for their clients. We are delighted that Belvoir recognises and values the growing consumer recognition of Propertymark Protection, which eligible members display in branches and on websites.