View more on these topics

Halifax and Nationwide to back Brown’s plans

Chancellor Gordon Brown will give details today of his plans to help first-time buyers onto the property ladder, including a shared equity scheme, backed by the Halifax and Nationwide.

The scheme will encourage lenders and housebuilders to take a stake in first-time mortgages, so that young couples can get onto the property ladder.

Brown is expected to tell MPs that the Halifax and Nationwide will help the government to enable first-time buyers to reach the property price of their first home, then benefit from the property is sold on.

Under the plan it is expected that buyers will find 75% of the house price, then the government and bank or society will put in 12.5% each. When the house is sold each party will keep their proportionate share of the profits.

Brown is also expected to announce that the four biggest housebuilders, Barratt, Lovell, Bellway and Redrow will also offer the shared equity scheme, making it so the government does not have to put in a stake

Recommended

NLA welcomes private-rented sector report

The National Landlords Association has welcomed the recent report on the private-rented sector published by Camden Council. The report, produced by the Private Rented Sector Accommodation Scrutiny Panel, reflects the fact that a quarter of all households in the borough now rent their homes from a private landlord, almost as many as remain tenants of […]

Home transactions are poised to rise

Research carried out by Propertyfinder.com provides evidence that the number of homes being bought and sold will grow strongly in the new year.

Act while pension rules still relaxed

There has been much publicity about the relaxation of pension rules to allow residential property to be held as an investment in pension plans, which should provide a much needed boost to the buy-to-let sector.

RBS creates single intermediary channel

Royal Bank of Scotland is to create a single intermediary channel for all its mortgage products under the banner of RBS Intermediary Partners. The move follows consultation with existing intermediaries and reflects their desire for a single point of entry to the Group for all the RBS mortgage brands – The One account, First Active, […]

Auto enrolment – so far so good?

Jamie Clark – Business Development Manager The recent report from the Pensions Policy Institute demonstrates the sheer scale of auto-enrolment so far and what we can expect in the future. We’ve pulled out the key information to save you reading the full report. Auto enrolment in numbers Sources: Pensions Policy Institute, The Future Book: Unravelling […]

Newsletter

News and expert analysis straight to your inbox

Sign up