|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
13th of October 2010
|    Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
August 9, 2010    

Housebuilding boost with New Homes Bonus

Bookmark and Share

by Gill Montia

The Government is proposing to tackle the housing shortage by offering councils in England a cash bonus for every new home they allow to be built.

Full details of the scheme are awaited from Housing Minister Grant Shapps but according to reports, the New Homes Bonus will match the council tax raised on each new home over a six-year period.

The credit crisis and housing market slump have reduced the number of homes being built to its lowest level since the 1920s and with local authorities under close scrutiny over council tax rises, potential revenues from the bonus could prompt a review of planning policy, for good or ill.

In addition, the bonus could spark councils into actions that would encourage local communities to welcome new housing developments rather than draw up lists of objections.

Last week, Mr Shapps announced that the £22 fixed fee for personal searches of councils’ local land charges registers is to be abolished.

The move follows the abolition of Home Information Packs, in May, and is aimed at further reducing costs for home buyers.

Discuss this in the Finance Markets forums

Story link: Housebuilding boost with New Homes Bonus

Need a loan? Apply for one now!
Personal loan application
  • Over 100 lenders
  • Instant decision
  • No obligation quote
  • Safe, easy, and simple
  • Your data is protected

Related financial stories to: Housebuilding boost with New Homes Bonus:
Previous: «
Next: »

Visited 915 times, 1 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: cash bonus, , Housing Minister Grant Shapps, new homes


Property News feed Property News

All Financial News feed All Financial News