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Owners unable to sell their flats because of unsafe cladding will soon see the end  to years left in limbo.

From January 9th, six major banks will scrap their ban on lending on hundreds of thousands of medium to high-rise homes deemed a fire risk.

Barclays, HSBC, Lloyds, Nationwide, NatWest and Santander will consider mortgage applications on buildings in England more than 11m (36ft) tall which have the cladding.

Lenders have loosened restrictions after guidance from the Royal Institute of Chartered Surveyors on how to value such properties. Borrowers will need to prove that removal of the cladding will be covered by the developer, a Government scheme or leaseholder protections.

Daily Mail

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The Bank of England today voted to raise interest rates by 0.5% from 3% to 3.5% - a level not seen since October 2008.

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Homeowners who run into financial trouble will be able to make reduced payments under a deal brokered by Chancellor Jeremy Hunt at a summit with bank bosses.

The Treasury said bank chiefs had agreed a series of measures to help struggling customers.

Those who run into difficulty with payments will be offered targeted help, which could include a 'short-term reduction in monthly payments', a temporary switch to interest-only payments or an extension of the mortgage term to reduce monthly costs.

Banks also agreed that households coming to the end of their fixed rates should be offered a new deal without another affordability test, provided they have kept up with their payments.

Daily Mail

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Stamp duty to be reversed in April 2025

Capital gains tax threshold reduced to £6,000

Inheritance tax threshold frozen at £325,000

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Chancellor Jeremy Hunt has promised to keep Stamp Duty cuts in place until the end of March 2025, but the tax will rise after that date.

"This will create incentives to support the housing market by boosting transactions," he said.

The Chancellor said he would then "sunset" the cuts so that they are abolished but will be kept under review. He had previously said he would keep the Stamp Duty cuts but had not set a deadline for them.

  1. WHO IS THE LATEST HOUSING MINISTER?
  2. INTEREST RATE RISE
  3. HOUSE PRICES FALL
  4. WHAT THE MINI BUDGET REVERSAL MEANS FOR THE HOUSING MARKET

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  • We are 100% satisfied and cannot recommend Fox Estates strongly enough. The team were extremely professional, friendly, and approachable from the minute we asked for a valuation right until completion. Their knowledge of the local area was spot on and made the difference on the sale of our house. We are grateful to Chris in particular for his attention to detail, responsiveness to emails and a willing pro-activeness to help keep things moving. I would not hesitate in recommending Fox Estates to my friends and family..

  • Chris Fox put my house on the market on June 13th and advised me to have an open house. 26 people viewed the property and I had 6 really good offers. By 3rd of August we had completed!Chris guided me through the sale with professionalism, integrity, friendliness and his extensive knowledge which can only come from spending 35 years doing a job he is still clearly passionate about.

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  • During my career I have come across many estate agents and Chris really is a true professional, with the highest standards of integrity and professionalism I have seen. As well as having referred him to my own clients and had excellent feedback, I have personally used Chris to sell my property and I have been extremely impressed, and would recommend him to everyone.

  • I instructed Chris to sell my house and when he found a buyer the sale went through in just over 6 weeks. His service was excellent and I would recommended him to anyone. A few months later my mum instructed him to sell her house and again he found a buyer and the sale progressed to completion without a problem. Chris is very knowledgeable and professional and he will give you a very helpful, friendly and attentive service. If you are thinking about buying or selling I would suggest you give him a call

  • I employed Chris Fox to sell my parents home when my mother died last year. He handled the sales with professionalism and respect for my family. He was very eager to secure the right sale and was tenacious on our behalf. He kept us fully informed of all developments during the sale and achieved a very good outcome on our behalf. I would recommend Chris Fox wholeheartedly.

  • AFTER 4 MONTHS OF AGGROVATION WITH ANOTHER ESTATE AGENT I APPROACHED CHRIS ABOUT 2 MONTHS BACK, I EXPLAINED THAT I HATED ESTATE AGENTS, CHRIS HAS GONE A LONG WAY TO REPAIRING THAT IMAGE HAVING DONE A SPLENDID JOB IN SELLING MY HOUSE WITHIN 3 DAYS THE WHOLE PROCESS TOOK 6 WEEKS TO THE POINT I HAD MOVED EXCELLENT ATTITUDE AND A TRUE PROFESSIONAL

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