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More radical solutions to housing supply needed: Nationwide

Lenders and local authorities need to embrace more radical solutions to help meet demand for housing in the UK, according to Nationwide Building Society.

Nationwide senior manager of New Build, Jeremy Cook called for an increase in the number of new modular homes being constructed, which can be built off site and transported to areas needing additional housing.

Speaking at the Financial Services Expo in Coventry Cook says: “There is no easy fix to build more houses.” He says that while the number of new build housing starts had increased since the credit crunch, developers were still struggling with a number of key issues, including an ageing and migrant workforce, securing the right skills from employees finding materials and dealing with land and planning issues.”

He adds: “All parties need to get together across this in the marketplace. We need to build more quickly and we need to embrace modern methods of construction such as modular homes.

“Getting these properties from where they have been built to the site is the big challenge in this. Lenders and local authorities need to embrace these new methods of construction.”

Cook says that the new build market offers fantastic opportunities for mortgage brokers. “The good news is that new-build is a broker marketplace.”

But he points out that advisers looking to make in-roads into this market had to look at what developers required from those on their broker panel and the services that was offered. “Advisers need to offer a service from 8am to 8pm seven days a week. Developers want a 28-day exchange from their clients in order to get certainty – it generates a committed buyer.”



House sales fell 1.8% in September: HMRC

The number of residential property transactions fell by 1.8 per cent between August and September, according to the latest seasonally-adjusted HMRC figures. However, this month’s figure is 4.6 per cent higher than the same month last year. Overall, the provisional seasonally-adjusted figures show that 100,850 residential and 9,440 non-residential transactions took place during September. For […]

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Financial advice can benefit customers by £40,000

New research shows those customers who receive financial advice can be better off on average by £40,000 We’ve sponsored a research project with the International Longevity Centre – UK (ILC-UK) to produce ‘The Value of Financial Advice’ report. This independent research demonstrates that customers who take financial advice can, on average, be £40,000 better off than those […]


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