The recent IMLA report ‘Bridging the gap: developments in later life lending to an ageing population’ suggests that the number of over-65 homeowners has increased by a half in the last 20 years, from 4 million to 6 million. Never have older borrowers had so much power over the property market, and whilst this market is thriving, it is also influenced by several different factors, including increased regulation as consumers increasingly buying for the first time in their late 30s or 40s.
The Mail on Sunday recently reported that the Treasury is considering a change to pensions that will affect “people who can afford to put tens of thousands of pounds into their schemes each year.” The pension’s annual allowance would "hit people making large contributions without penalising middle income earners".
Help to Buy completions totalled 10,160 in the first quarter of 2018, according to the latest statistics from the Ministry of Housing, Communities & Local Government. This is below the record quarterly figure of 13,993 seen in Q4 but above the 8,212 completions recorded in Q1 2017. Since the launch of the Help to Buy: Equity Loan scheme in 2013, 169,102 properties have been bought with an equity loan. Most of the home purchases in the scheme were made by first-time buyers, accounting for 136,657, or 81%, of total purchases.
Since the early 1970s, the number of people getting married has steadily decreased, dropping a further 3.4% last year. Nearly 98% of professionals from family justice group Resolution reported working with a cohabiting couple who they were unable to help, and a further 90% said the couples are often surprised to find out about their lack of rights.
Giving tenants greater support so they can hold their landlords to account is being considered as part of government proposals on social housing in England. The measures include speeding up the complaints process and publishing league tables to highlight the performance of landlords. The Green Paper also pledges a scheme to offer tenants the right to buy 1% of their home each year. Labour said the "pitiful" plans made no promise to fund more affordable homes.