Housing Flashcards
(42 cards)
What is our new national model for shared ownership of houses?
Allowing people in new housing association properties to buy a proportion of their home while paying a subsidised rent on the rest – helping thousands of lower income earners step onto the housing ladder. People will be able to buy more of their home in 1% increments, rather than the 10% (or more) chunks currently required. For new housing association properties, this will be an automatic right for tenants.
What is our approach to housing associations?
We’ll work with housing associations on a voluntary basis to determine what offer can be made to the millions of tenants in existing housing association properties. This policy will give millions of people the opportunity to get on the housing ladder and more easily begin the process of owning their own home.
What is our approach to Help to Buy?
We backed it. Help to Buy has helped make home ownership a reality for over half a million people. More than 1.4 million people have used Help to Buy ISAs and at last count, 221,405 properties have been bought using the Help to Buy Equity Loan scheme.
What is our approach to stamp duty?
We’ve also cut stamp duty for 95% of first-time buyers. This has saved people and families up to £5,000 on the purchase of their home.
What is our approach to First-Time Buyers’ Relief?
Over 340,000 families have benefited from our First-Time Buyers’ Relief since it was introduced in 2017, saving over £804 million.
What is our record on affordable homes?
We have delivered over 430,000 affordable homes since 2010.
What is our track record on social rent?
We have delivered over 135,000 social rents since 2010.
What is our track record on the housing stock?
We’ve added 232,800 dwellings to the housing stock. That’s the largest increase since records began in 2010.
How many homes have we built since 2010?
1.3 million. 1 million in the last 5 years, including 250,000 in 2018 (the highest in almost 30 years, since records began in 1991).
What is Labour’s record on social housing?
And under Labour there was a 420,000 drop in the stock of social housing between 1997 and 2010. We have turned this around with a rise of 79,000 in the stock of social housing since 2010.
What does the Budget 2020 mean for the Affordable Homes Programme?
An extra £9.5 billion, taking the total for 2021-2022 to £12.2 billion. This is the largest cash investment in a decade.
What does the Budget 2020 mean for planning?
A White Paper on planning in line with our aim to support at least a million more homes.
What does the Budget 2020 mean for unsafe cladding?
A £1 billion fund to remove unsafe cladding, with additional funding to remove non-Aluminium Composite Material cladding from residential buildings above 18 metres.
What does the Budget 2020 mean for rough sleeping?
Ending it by the end of the Parliament. £643 million of targeted support. 6,000 more beds. A substance treatment service with a full capacity to help 11,000 people a year. Rough sleeping policies will be funded through a Stamp Duty Land Tax on non-UK residents.
How much has rough sleeping fallen by in the last year?
9%
How many homes will we build in the next 5 years?
1 million more
What is our home-building target for the mid-2020s?
300,000 new houses a year.
How will we help renters buy?
A new market in long-term fixed rate mortgages, requiring only 5% deposits. 2 million renters could afford mortgage payments, but would struggle to save the deposit.
How will we help local first time buyers?
Under a new First Home scheme, homes will be sold at a 30 per cent discount to local first-time buyers.
How will we help renters with their deposits?
Renters will be able to have Lifetime Rental Deposits which can be transferred from one rental property to another, making the process of moving home easier and cheaper. At the moment, renters can struggle to find money for the deposit on a new property while they still have money tied up in the deposit on their previous property.
What are we doing about foreign buyers?
Introduce a Stamp Duty Land Tax surcharge levied at 3% to apply to companies as well as individuals. The measure will raise up to £120 million a year, and this money will be directed at programmes to help tackle rough sleeping.
At present, foreign individuals and companies who are not tax resident in the UK are able to buy homes as easily as those who live here. They are often bought by wealthy individuals or companies and kept as investments or rented out at inflated prices.
What was Labour’s record on house-building?
The lowest peacetime house building rates since the 1920s.
What is the effect of foreign purchases on the property market?
A recent study showed that 13 per cent of new London homes were bought by non-residents in 2014 to 2016. A study by Kings College London estimated that a one percentage point rise in the volume share of residential transactions registered to overseas companies leads to an increase of about 2.1 per cent in house prices, and lowers the overall homeownership rate.
Which other countries have similar charges to give their citizens preferential access to homes?
Australia, Singapore, Canada and Israel
Demand fell in all of these countries as a result, as did the proportion of foreign buyers.
