View more on these topics

Govt to review house buying process


The Government is set to investigate ways to improve the house buying process.

In today’s Budget document the Treasury claimed consumers spend £270m each year on failed housing transactions.

When a transaction falls through buyers normally end up losing their legal, survey and mortgage fees.

It said: “The Government will shortly publish a call for evidence on how to make the process better value for money and more consumer-friendly.”

A Building Societies Association spokeswoman says: “We look forward to the publication by Government of a call for evidence on how to improve the home buying process and will engage.”



CML members vote on trade body merger

Council of Mortgage Lenders members are voting on a proposed trade body merger. CML management visited lenders ahead of the start of the online voting period. A CML spokesman confirmed that voting has started but would not confirm start or end dates. He says: “We don’t want to get hung up on the timings or […]


Money Advice Service to be scrapped

Chancellor George Osborne will announce the closure of the Money Advice Service later today as part of the Budget. Osborne’s decision comes as part of the review of Government-backed guidance services, launched alongside the Financial Advice Market Review last year. The service is set to be replaced by a much smaller body with a focus […]

Insurance Review: Children’s CI benefits – a no-brainer

A lump sum can never ease the emotional stress caused by a child’s serious illness but it can remove a lot of financial strain A little while ago my 11-year-old son was rushed to hospital needing to have his appendix removed. He was admitted on a Thursday night and had the operation the following day. […]


Legal & General’s profits rise 14%

Legal & General’s operating profit rose 14 per cent in 2015 led by a steep increase in profits from the retirement business. According to the insurer’s full year results, published today, the retirement division saw profits rise 49 per cent year-on-year, from £428m to £639m in 2015. Overall group profit rose 14 per cent, to […]

Finance is only one hurdle for small developers

The housebuilding market in its current form simply isn’t working. We are completely over-reliant on the biggest players in the industry – the largest nine are responsible for more than 50 per cent of the new homes built in the UK. But there is a reluctance to do more, particularly in this uncertain post-Brexit world. And with […]


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Chris Hulme 17th March 2016 at 8:41 am

    Hope its better than the HIP’s brought in the last time someone tried to simplify the process!!