Landmark Government Bill on Building Safety Published

Draft Building Safety Bill Published 20 July 2020

First announced in January, the government recently published its draft ‘Building Safety Bill which aims to make residents safer in their homes and deliver the biggest changes to building safety for nearly 40 years… It will improve regulations as the Government seeks to bring forward a “clearer system with residents’ safety at the heart of it” with residents having helped to develop the proposals through engagement groups.’ says Propertymark, the UK’s foremost property association.

Propertymark further explains:

‘Under the new rules, people living in high rise buildings will be empowered to challenge inaction from their building owners, have better access to safety information about their building, and will benefit from a swift and effective complaints process.

A Building Safety Regulator, already being set up within the Health and Safety Executive (HSE), will be established and equipped with the power to hold building owners to account or face the consequences and will enforce a new, more stringent set of rules that will apply for buildings of 18 meters or more or taller than six storeys from the design phase to occupation.

The Government views the draft Bill as legislation that will evolve as further evidence and risks are identified to ensure that residents’ safety is always prioritised and will also provide new powers to better regulate construction materials and products to ensure they are safe to use.’

The government will be publishing a new manual to the regulations to help ensure that building owners are clear on what steps they need to take to make their buildings compliant and - most importantly - safe.

Green Homes Grant Scheme Announced by Government

Propertymark Outlines Details of New Government Scheme

‘The government has announced a new scheme for homeowners in England called the Green Homes Grant Scheme. Set to start in September, the scheme will see eligible homeowners issued with vouchers to pay for energy-saving improvements to their homes.

How much funding is available?

Chancellor Rishi Sunak will be unveiling a £3billion plan to cut emissions, with £2billion ringfenced for the Green Homes Grant Scheme.

Under the scheme the government will pay at least two-thirds of the cost of energy saving home improvements up to £5,000. For the lowest earners, the government will pay the full amount up to £10,000.

David Cox of ARLA Propertymark said:

“Since the withdrawal of LESA (Landlords Energy Saving Allowance), we’ve been calling for a simple grant scheme to help private homeowners and landlords make their properties more energy efficient.

Today’s announcement is a big step forward to ensure that they can take the necessary steps to do this and ultimately create a greener property sector in the UK.”

What home improvements will be eligible?

Homeowners will be able to use the vouchers to pay for improvements that will make their property more energy efficient. This could be installing floor, wall and loft installation, low energy lighting, energy efficient doors and double glazing.

How will the vouchers work?

The government has said that homeowners will be able to apply for the grants on the Simple Energy Advice website from September.

Applicants will be asked some basic questions about their home followed by recommendations on eligible improvements, including information on local suppliers.

Once a supplier has provided a quote and the work has been approved, the government will issue a voucher.

Are you eligible?

The scheme is open to anyone who would benefit from eligible energy efficiency measures. The government are yet to release the criteria to receive the extra funding for those on lower incomes.’

We will provide updates as they become available. The scheme website is accessible below.

Steve Cook Steps Up as President of BNI Commonwealth

Congratulations!!

We are delighted to announce that Steve will be stepping in as President of the Commonwealth BNI Chapter in Belgravia, effective immediately.

Having served as Vice President since April alongside his work at Maplewood, Steve is taking over from Caroline Somer of Somer Designs, a long-serving and highly experienced member who has decided to relocate.

BNI Commonwealth is currently the number 1 ranked chapter in London and the number 2 ranked chapter across the whole of the UK and Ireland.

BNI (Business Network International) is a worldwide organisation of more than 250,000 professionals who meet weekly to support and grow each other’s businesses.

Meeting are currently being held online via Zoom each Wednesday from 11:45-13:30. Visitors are always welcome and full details are available through the link below.

Stamp Duty Rates to be Temporarily Reduced

Government Outlines Details for Stamp Duty Land Tax

In a mini-budget announcement yesterday, the government has reduced the rates of Stamp Duty Land Tax (SDLT) on residential properties purchased between 8 July 2020 and 31 March 2021. 

The details indicate that:

‘If you purchase a residential property between 8 July 2020 to 31 March 2021, you only start to pay SDLT on the amount that you pay for the property above £500,000. These rates apply whether you are buying your first home or have owned property before. From 8 July 2020 to 31 March 2021 the special rules for first time buyers are replaced by the reduced rates.’

You can use the Stamp Duty Land Tax calculator in the link below to work out how much tax you’ll pay on your property purchase.

Demand from Tenants and Rental Supply Highest on Record for June

Numbers of Prospective New Tenants Continuing to Rise

The June edition of ARLA Propertymark's Private Rented Sector Report found a record number of prospective tenants registering interest with agents - a year-on-year high for this time of year. Whilst the market typically begins to slow in June for the summer months, this year's surge on account of the coronavirus means that we expect the next few months will be busier than usual.

Phil Keddie, ARLA Propertymark's President agrees. 'Our latest figures show that the rental market is continuing to pick up following the COVID-19 lockdown. The record-breaking supply of rental stock and demand from tenants for this time of year paints an optimistic picture for the summer months, indicating that the market will be more active than the usual seasonal lull.'

There are also more properties on the market now than is typical for this time of year which means that you're best placed to market your property with a smaller agency who can give you a more focussed and attentive service to get your property let quickly.

To have a chat about how we can help, give us a call on 0203 488 0224.