Tag: Councils

New scheme will help first-time buyers

New scheme will help first-time buyers

Five local authorities are piloting a scheme which is set to help first-time buyers get on the property ladder. Since the credit crunch more than three years ago, first-time buyers have been struggling to secure a mortgage unless they have a substantial deposit. It is hoped that the scheme, called Local Lend a Hand, will [...]

March 16, 2011 | 0 Comments More
Housebuilding boost with New Homes Bonus

Housebuilding boost with New Homes Bonus

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 [...]

August 9, 2010 | 0 Comments More
Building societies against new regulations

Building societies against new regulations

The Building Societies Association (BSA) has expressed its concern over new regulations, proposed by the Financial Services Authority (FSA), saying they will disadvantage the industry. Proposals from the City watchdog include plans to restrict riskier types of lending by building societies, which according to the BSA, would have a “discriminatory and anti-competitive effect in the [...]

September 7, 2009 | 0 Comments More
Councils set to withdraw funds from building societies

Councils set to withdraw funds from building societies

The Sunday Telegraph has reported that local councils are planning to withdraw billions of pounds of deposits from building societies. The move follows the decision by Moody’s last month to downgrade the credit ratings of several building societies due to concerns they will be hit by losses due to the housing market slump. The downgrade [...]

May 5, 2009 | 0 Comments More
British Councils may receive losses from failed Icelandic banks

British Councils may receive losses from failed Icelandic banks

A creditors’ report from the administrators of Heritable Bank, the UK arm of failed bank Landsbanki, has revealed that British councils may be able to recoup some of their losses. The Icelandic banking crisis emerged last autumn after Landsbanki, Glitnir and Kaupthing all collapsed and had to be rescued by the country’s Government. Hundreds of [...]

April 20, 2009 | 0 Comments More
Recession causing closure of private care homes

Recession causing closure of private care homes

The Local Government Association survey of social services departments across England have found that the recession has had a big impact on the private care sector, with 15 percent of authorities indicating that they have already experienced pressure due to the closure of private homes. With further closures imminent, council leaders have warned that businesses [...]

April 10, 2009 | 0 Comments More