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Homes shortfall to hit one million

The former chief executive of Barratt Developments has warned that the shortfall in housing in England is set to hit one million homes by 2010.

David Pretty, who is also chair-man of the New Homes Marketing Board, is alarmed by the prospective shortage of homes compared with rising demand.

He says: “Households are being formed at the rate of around 230,000 a year but we haven’t built anywhere near that number, so we have a serious backlog which continues to grow. By 2010, pent-up demand for homes could be over one million. That is dangerously high.”

But he adds that this gap could be plugged by making use of the equivalent number of properties that are currently not occupied.

David Ireland, chief executive of charity Empty Homes Agency, says: “Unless we take action now we are on course for over a million empty homes in the UK at a time of record housing need.”


HSBC launches direct only 2.99% fixed rate

HSBC has launched a two- year fixed rate mortgage at 2.99%, as it reveals its mortgage application requests doubled in February compared with January 2009.

Leeds reports strong profits

Leeds has reported a pre-tax profit of £20.3m after paying its Financial Services Compensation Scheme levy.

House buying process moves online

Online estate agents Get-Set-Go have teamed up with Email Mortgages to allow buyers and sellers to find properties and arrange mortgages online.


Pension over-taxing

800,000 people are at risk of being over-taxed on their pensions, writes Steve Webb, director of policy at Royal London Hundreds of thousands of people receiving company and personal pensions should check their tax code to make sure that they are not being over-taxed, according to a leading pensions firm. Mutual insurer Royal London has […]


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