Ben Horne and Ashley Wilsdon discuss their property wishlist for the new PM
7th September 2022
Lizz Tuss has been announced as Britain's new Prime Minister and leading property heads weigh up what needs to be addressed by the new leader.
Prime Resi reports an extensive property wish list, ranging from tax changes to an overhaul of the conveyancing process. With inflation rates sky rocketing, Simon Tollit from Tedworth Properties hopes for more stability within the industry and wants the new PM to combat inflation rates with a robust and well thought out strategy.
In a similar vein, Andrew Deverell-Smith from deverellsmith draws on the housing minister's role constantly changing hands having had ten ministers within ten years, making long term planning difficult to carry out.
Middleton's Head of London Buying, Ashley Wilsdon, hopes there will be more support given to first-time buyers (FTB), especially in central London:
Stamp Duty Land Tax Reform
"The government should seek consultation from our industry. We need more help for first-time buyers, specifically in high-value areas such as London.
The financial surcharges imposed on international buyer and second home buyers need to be rethought.
Leasehold reform should remain but needs re-evaluating.
Greater attention and measures should be brought in to ensure the quality of build and design for the future to benefit both urban and rural residents and communities." says Ashley
Head of Country Buying, Ben Horne wants offers to be legally binding to end uncertainty for buyers & sellers:
"I would like to see an overhaul of the conveyancing process, starting with offers becoming legally binding. This would remove unnecessary costs, endless uncertainty for both buyer and seller, gazumping and everything that makes moving house utterly miserable.
I recently had a client who spent £27,000 on the process only for the vendor to change their mind at the point of exchange and not sell." says Ben
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