Latest News

Land Transaction Tax (LTT) nil rate band extended

04 March 2021

On 3 March 2021, the Welsh Government announced that the temporary increase to the nil rate band of LTT for residential property transactions will be extended to 30 June 2021. Read More...

Campaign leads to extended Stamp Duty holiday

03 March 2021

The Chancellor has listened to Propertymark’s calls to avoid a cliff-edge deadline to the Stamp Duty Land Tax holiday in the UK Government’s budget, today, 3 March 2021. The nil rate band up to £500,000 will end on 30 June, instead of March. A transitional nil rate band up to £250,000 will be in place until the end of September and then return to £125,000 from October, with first-time buyers continuing not to pay stamp duty on properties up to £300,000. Read More...

Estate agents lose over £4,000 for every property sale that falls through

25 February 2021

Research carried out by Propertymark over the last year found an average of 17 property sales fell through, with 42 per cent of respondents saying failed sales are a significant problem for businesses. Read More...

Possible stamp duty extension

24 February 2021

Propertymark’s Chief Policy Advisor Mark Hayward has today welcomed speculation in The Times that the Chancellor may extend the Stamp Duty Holiday in England until the end of June, in next week’s budget. Read More...

 

New independent body responsible for new home quality

Tuesday 09 February 2021

The New Homes Quality Board (NHQB), that will champion quality new homes and better consumer outcomes for buyers, has been launched, today, 9 February. The board will appoint a new homes ombudsman and deliver a ‘step change’ for the buyers of new homes.

The NHQB will introduce new industry code of practice and a new Homes Ombudsman Service (NHOS). The aims of the new arrangements are to plug gaps in existing protections, provide high quality homes and stronger consumer protections.

New Homes Ombudsman Service

The NHQB is working closely with the Ombudsman Association, the independent body that validates ombudsman schemes, on the process to appoint a NHOS, who will provide support for buyers in the event of a dispute.

New industry code of practice

The new Code will place more responsibility on developers to deliver quality homes and better outcomes for consumers. The Code’s principles-based approach will place considerably more demands on builders from the sales process through to two years from when buyers move into their new home.

It will require developers to have effective complaints procedures in place, with specified timelines within which they must address any issues that arise with a new home to the consumer’s satisfaction or be potentially subject to a referral to the NHOS. A consultation process on the Code is currently underway with stakeholders.

NHQB leadership

The New Homes Quality Board (NHQB) is a new, UK wide, independent body that will champion the quality of new build homes, the customer service provided by developers, and consumer redress for the buyers of new homes. It will comprise permanently appointed members and will be chaired by Natalie Elphicke MP OBE. Its members include representatives from consumer bodies, housebuilders, warranty providers, the finance sector and independents – with a constitution that ensures no one body is dominant.

Read the full announcement

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The new arrangements will lead to a step-change in how new homes are built and sold and how customers are treated. The board is committed to driving new-build quality and strengthening protections for buyers

Natalie Elphicke MP, NHQB Chair

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I am delighted to support this new body which will champion good quality homes and give much-needed peace of mind for homebuyers with a strong regulator to help them if things go wrong

Rt Hon Robert Jenrick MP, Housing Secretary

Propertymark activities

Propertymark has campaigned for a New Homes Ombudsman to be created.

We put forward proposals for an ombudsman scheme for purchasers of new build homes and for all new house builders to sign up to the Consumer Code for Home Builders in our research.

Leasehold properties

The UK Government must ensure that there is a level playing field across the home buying and selling process and selling activities that developers engage in are of a consistently high standard.

Read the consultation response