New housing and planning bill generates deep concerns
As the Conservative government’s housing and planning bill reaches Report Stage in Westminster today, numerous social commentators and property experts have expressed substantial worries about its potentially ‘disastrous’ impact on the UK’s housing market.
The bill will give housing association tenants the right to buy their own homes, putting an end to secure tenancies and replacing them with a pay-to-stay scheme – which the government says will help transform ‘generation rent’ into ‘generation buy’.
However, those who oppose the bill have pointed out that the majority of hopeful UK property buyers simply do not have access to the funds needed to become homeowners – thus deepening the country’s housing crisis.
“Any would-be homebuyer earning the national average of £26,500 will now find 91% of England and Wales beyond their reach,”
wrote Aditya Chakrabortty in The Guardian.
“If you can’t buy, you rent – except in London, the epicentre of the madness where rents are so extortionate, newspapers compete for horror stories. Consider the £480 a month charged for a mattress in the corner of a communal lounge in a shed in the east end.”
This is, of course, also bad news for those keen to sell property fast. Many people have a great deal of money tied up in their own home and can only access it by selling to a buyer with an adequate deposit and mortgage offer, which then makes a fresh start possible – something at the forefront of the national conscience as another new year begins.
Have you decided to sell your home but fear that finding a buyer will be tough? Contact National Homebuyers for advice, as we guarantee to buy any home for cash. Call 08000 443 911 or request a call back to find out more.