A thread for **general** housing/property/DIY news and discussion

[KievLoverTwo]

It often strikes me that there's no appropriate place to share things I read on a daily basis; I don't have a problem that needs fixing, or it's a political issue and I don't want to start arguments, or it's something that only 1% of readers will be interested in reading so it'll fall off the front page in quick-sharp time.

So, I'm going pop the various odds and sods in here, as and when I feel like it. Feel free to join in with your news.

Try to avoid bun fights if you can :)

(TL;DR means 'too, long, didn't read' - a brief summary to save time)

I think it's because it measures the 3 miles from the outskirts of an area, instead of from the centre.

I totally get that, but Littlehampton comes up frequently & it’s ten miles away even as the seagull flies…🤪

Well, that's just clutching at straws!

I've noticed that a lot of estate agents mark their properties as being in areas they are nowhere near. Especially if that nowhere near area is seen as more desirable.

No progress on access to green spaces for all. It will not be made law.

https://www.theguardian.com/environment/2023/dec/09/tories-shelve-pledge-for-everyone-in-uk-to-live-15-minutes-from-a-green-space

I am not sure how they could ever hope to implement such a policy. But it was a good press release at the time, I guess?

UK homebuilder who specialise in developing brownfield sites say that after materials costs increasing by up to 25% over the last year, costs are no longer rising, and there are now signs of them falling.

https://www.ft.com/content/0e4e381e-0c83-41cc-9e8d-c2eccba31fec

New software launch aims to protect landlords from property fraud and subletting.

https://www.property118.com/help-to-protect-landlords-from-tenant-sub-letting-and-property-fraud-unveiled/

Not really news, but a nice property related feel good story.

Mature student nurse who was forced to move in with a friend after her rent went up too much wins the Omaze £5 million townhouse competition.

www.standard.co.uk/news/london/kensington-chelsea-property-housing-omaze-house-draw-b1125718.html

Nationwide changes minimum visa validity for mortgages down from two and a half years to twelve months.

https://www.mortgagestrategy.co.uk/news/nationwide-cuts-minimum-visa-validity-to-one-year-for-resi-loans/?eea=EEA&eea=b0RaaVd0T0c5bTlUNzN5b2VtRHFXcWp2cFBmc0RXTVVwQXBhbE1GbzFSYz0%3D&utm_source=acs&utm_medium=email&utm_campaign=INDIGO_MOST_EDI_ALL_Daily_111223&deliveryName=DM197057

The green space near everyone's house item was probably always a bit of a hope rather than likely unless they had decided to let people into random gardens or school grounds.

A request from The Guardian newspaper:

We’d like to hear from UK homeowners whose fixed mortgage deals will expire next year how they are readying themselves for higher mortgage costs, and where the increase may leave them financially

https://www.theguardian.com/money/2023/dec/12/uk-homeowners-if-your-mortgage-costs-will-rise-soon-how-are-you-preparing

Small landlords intend on selling, medium sized landlords increasing portfolios:

ifamagazine.com/the-deposit-protection-service-significant-structural-changes-taking-place-inside-prs-according-to-new-dps-survey/

The Guardian newspaper is looking for feedback from those who have installed heat pumps in older homes:

https://www.theguardian.com/environment/2023/dec/12/tell-us-have-you-installed-a-heat-pump-in-an-older-uk-home

Autumn 2024 could see mid contract broadband price rises banned:

https://www.moneysavingexpert.com/news/2023/12/inflation-linked-mid-contract-broadband-mobile-price-hikes-banned/

Northern Ireland starts building social housing again after 25 years:

https://www.bbc.co.uk/news/uk-northern-ireland-67696931

"We are building future-proofed homes that will be constructed to a standard beyond that of current building regulations in Northern Ireland."

Oh crikey this doesn't look good for next year's market

https://uk.finance.yahoo.com/news/uk-mortgages-interest-rates-110042051.html

Virgin broadband to contact all 5 million customers to raise awareness of social tariffs, urges government to cut VAT on those tariffs and update 9 yo digital inclusion strategy:

https://www.birminghammail.co.uk/news/midlands-news/virgin-media-o2-announces-change-28269839

Not news, something I have discovered and want to share.
If your finances mean you are thinking about taking a mortgage holiday, please check the terms of your lender before seriously considering it. The terms can be severely restrictive. Below are Nationwide's terms. On others, I have read you will be ineligible if you have recently taken out any loans, have already missed a mortgage payment or are 75% LTV or above.

Being eligible for a payment Holiday

You may be able to apply for a payment holiday if:

• your Nationwide mortgage was reserved on or before 3 March 2010 or if you have an eligible Cheshire or Derbyshire mortgage

• you haven't had a payment holiday in the last 12 months

• you haven't been declined for a payment holiday in the last six months

• the Department for Work and Pensions aren't making payments to your mortgage

• you haven't had a term extension within the last 12 months

• your account hasn't been in arrears in the last year

• your property isn't currently let

• your mortgage isn't shared ownership

• you haven't had any additional borrowing on your Nationwide mortgage in the last 12 months

• you have not switched to a new mortgage deal since 3 March 2010 (seriously? Is this a joke?)

• your mortgage wasn't regulated by the Consumer Credit Act at the time you took it out

• your mortgage term has at least 12 months remaining after the payment holiday finishes

• your mortgage isn’t more than 80% of the value of your home at the beginning or the end of your payment holiday.

Noticed this too in my area. Lots of large 'listed buildings' are up for sale and not selling.

On the payment holidays, I realise it may be different now but someone I know took a 2 month payment holiday during the first lockdown. A year later they wanted to move but were unable to port their 20% ltv mortgage due to the mortgage payment holiday.

That's concerning about all the stipulations and people only qualifying for a mortgage holiday if they have a certain LTV @KievLoverTwo or the possibility that taking a mortgage holiday could go against people in the future as per the experience of @Karmatime

The government like to emphasise the support package available to struggling homeowners and it often gets reported in the media but I wish they would be more transparent about the details of such schemes.

I know someone who was told by her bank to take a mortgage holiday during COVID (self employed), they didn't tell her it would wreck her credit rating, now she lives with her mum.

If the government don't stipulate terms they want lenders to adhere to, of course they're going to go away and do what they like.

The sadness of the T&C's I am coming across is they're only likely to help those who need help the least.

Of course, the alternative, which makes them an absolute ton of money, is telling people they have no choice but to extend the term of their mortgage.

It's also irresponsible and lazy press reporting to widely publicise payment holidays (another great press release from our government) without at least stating 'but missing any payments before applying could see your application denied', let alone the myriad of get out clauses the major lenders have listed. Just that one basic addition to a news story could save people money and heartache.

Yes I agree totally the T&Cs of those Lenders mean that people most likely to need help in the form of a mortgage holiday won’t be able to access it.

That’s awful.

Energy companies must help struggling or vulnerable customers from today:

https://www.bbc.co.uk/news/business-58090533