Planning Permissions for Housing Rise 49%

This article by Alex Johnson of The Independent on September 24th, 2013 shows that 49% year-on-year increase in the number of planning approvals for new homes between April and June in 2013.

Figures from the Home Builder’s Federation show a 49% year-on-year increase in the number of planning approvals for new homes between April and June in 2013. Although this is a slight drop from the previous three months, there were 77,686 permissions granted in the first six months of the year, a 26% year-on-year increase.

Stewart Baseley, Executive Chairman of the HBF, said: “The overall trend in residential permissions is very positive. It reflects house builders’ increasing confidence in the market and also the positive principles of the new planning system. With Help to Buy forging ahead strongly and developers looking to increase output, we need to see the increase sustained.

“However, at a time when developers are looking to build more much needed homes, we are increasingly concerned by the conditions attached to many of these permissions that prevent actual work starting on site. Local Authorities must ensure planning conditions are not overly onerous or unrealistic otherwise despite the success of Help to Buy, the much needed increase in housing supply will be held back. Despite the increase in permissions granted, we are still well short of the 220,000 permissions required annually to meet housing need.”


House haggling

A study of 2,000 UK adults by Gocompare.com suggests that 89% of those who ask for a discount are successful in their negotiations. Cars and motorbikes (34%) top the list of goods and services people successfully haggled over, followed by electrical products (30%) and furniture (28%). Around a quarter said they had haggled over the price of a house.

New buy-to-let ranges

Virgin Money has launched a new range of buy-to-let mortgages with rates starting from 3.38% for a 2 year fixed rate with a £1,995 fee. Following the fixed or tracker period, all mortgages from the new range will revert to the Virgin Money Buy-To-Let Variable Rate, currently set at 4.99%.

Meanwhile, Accord Buy to Let has launched three new mortgages with zero completion fees, all available at a maximum of 75% loan to value with rates starting from 3.79%. They also offer £500 cashback on completion. The full details are:

* Two year fixed rate at 3.79% with £195 product fee and £500 cashback

* Three year fixed rate at 4.09% with £195 product fee and £500 cashback

* Five year fixed rates at 4.69% with £195 product fee and £500 cashback

Article Source: http://blogs.independent.co.uk/2013/09/24/planning-permissions-for-housing-rise-49/