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750,000 homes needed by 2015, reveals JRF

The Joseph Rowntree Foundation last week revealed that it estimates a massive 750,000 homes are required to meet the UK’s housing needs by 2015.

However, even if all the Government’s current housing schemes succeed by the end of 2015, JRF says the UK will still have 310,000 fewer homes than it needs.

The Government announced recently a raft of housing and planning measures in an effort to kickstart the economy. And the Home Builders Federation last Monday that the Government’s NewBuy scheme is gaining momentum as it hit 1,300 reservations since its launch six months ago.

JRF says it is still not enough and along with a massive increase in house building, the charity is also calling for a pooled mortgage insurance fund and wants a revaluation of council tax bands to act as a brake on house price inflation.

It says a revaluation of council tax bands would act as a brake on inflation and make the system fairer and that currently 3.7 million households are worse off as a result of the failure to revalue council tax because households would have moved down bands.

It has also called for an insurance partnership scheme where borrowers, lenders and the Government each make a contribution to a pooled fund that can cover struggling homeowners’ mortgage costs to prevent repossessions.

JRF programme manager Kathleen Kelly says: “As MPs gather for their party conferences and the new housing minister settles in, now is the time to fix the underlying problems in the housing market. It will take huge political courage to achieve this but we cannot afford to leave people or our economy helplessly exposed to our volatile housing system.”




Forget what the MPC says, money is still going down the wrong channels

On the surface, the news that Monetary Policy Committee members voted unanimously at the beginning of this month in favour of a hold on rates and to continue with its existing programme of asset purchases, might give the impression that the MPC is a tightly knit unit with a firm grasp on what is happening in the UK economy — and a unified sense of direction.


New sellers drop asking prices for third consecutive month

New sellers dropped their average asking prices for the third consecutive month in September according to Rightmove’s latest House Price Index. Prices fell by a further 0.6 per cent – or an average of £1,402 – this month, from £236,260 in August to £234,858. On a quarterly basis, homeowners have witnessed a 4.6 per cent […]

MI buys up FYB Network

Mortgage Intelligence last week bought mortgage network Life and Easy, which trades as FYB Network. FYB, which has around 50 advisers, will join the Mortgage Intelligence and Mortgage Next brands under the umbrella of Mortgage Intelligence Holdings. MI would not disclose how much the deal was worth. MIH managing director Sally Laker says: “FYB have […]

Health services

Challenges and opportunities

By Sarah Scott, marketing consultant On 22 February this year the charity Diabetes UK launched a fundraising initiative, #Swim22. They challenged individuals to swim 22 miles over the course of 89 days – a distance that equates to the width of the English Channel. Because of the time period the challenge is spread over, it […]


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