The King’s Speech: Housing and Energy Main Points

On Wednesday, 13th May, King Charles delivered his speech at the House of Lords, outlining the government’s plans for the upcoming year.

In his speech, the King said, “An increasingly dangerous and volatile world threatens the United Kingdom, with conflict in the Middle East only the most recent example”, followed by “my government will respond to this world with strength and aim to create a country that is fair for all.”

There were 37 bills announced, sharing the focus on the work of the government during the next parliamentary session.

Here is a summary of the housing and energy/environment points:

Housing

  • A Commonhold and Leasehold Reform Bill will stop the use of leasehold for new flats in England and Wales, and cap ground rents at £250 per annum

  • A Social Housing Renewal Bill will prevent newly built social homes in England from Right to Buy for 35 years. There will also be new productions in place for social tenants who are victims of domestic abuse to stay in their properties

  • The Remediation Bill means construction and manufacturers will pay towards removing unsafe cladding.

Energy and Environment

  • There will be new energy efficiency requirements for rented homes with the Energy Independence Bill

  • Tax will be increased on the excess profits made by electricity generation companies under the new Electricity Generator Levy Bill

  • The Clean Water Bill will mean there is a new regulator for the industry and a water ombudsman to provide more consumer protection.

Recent posts

Leaseholder   Web Larger

Housing Secretary Angela Rayner has announced a new measure to protect leaseholders in England and Wales from high fees and poorly regulated property management companies.

Your First Home   Web Larger

Saturday 26th September, Andy Burnham announced a new equity loan scheme called “Your First Home”. The scheme, which will be confirmed at next month’s budget, is aimed at first-time buyers looking to purchase a new-build property from a developer signed up to the scheme.

lost job web larger

Losing your job or finding yourself ‘between jobs’ is, unsurprisingly, a stressful place to be. Keeping a cool head and taking action is important.

Deals of week web larger

Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.

Call us for more information: 01628 507477 or email: team@mortgagerequired.com.

Flats 40 Higher Than Houses   Web Larger

This price gap between the cost of houses and flats is the biggest it has ever been. Houses are now costing 1.7 times more than a flat, which is 0.4 times higher than 10 years ago

Take a look at our list of houses vs. flats per area.

Are Rates Increasing   Web Larger

We have seen several lenders increase their mortgage rates over the last couple of weeks. This suggests mortgage rates are likely to rise.

Although nothing is set in stone, lender repricing, rising swap rates, and continued economic uncertainty suggest borrowers should prepare for higher mortgage costs.

Ai Enhanced Images   Web Larger

According to data from House Buyer Bureau, where over 900 UK homebuyers were surveyed, 54% of people said that they immediately ruled out digitally enhanced property listings.

April Mortgages   Web Larger

April Mortgages - only accessed via a mortgage broker - offers first-time buyers, renters, and home-movers the option to borrow up to 7 times their income on its longer-term mortgages.