22nd May 2013
The minister for local government has asked whether the existing structure of council pension schemes in the UK is fit for purpose.
Speaking at the National Association of Pensions Funds’ Local Authority Conference, Brandon Lewis MP called for evidence on the future shape and size of council pension funds.
There are 89 funds in England and Wales administering schemes on behalf of around four million members and investing over £150 billion on their behalf.
The minister's call is stro...
22nd May 2013
The Homes and Communities Agency (HCA) has agreed to put a £32 million investment behind a community development in Devon - which is anticipated to create 5,500 new homes.
The first phase of housebuilding will deliver 2,750 new homes, 550 of which will be for affordable rent.
Though the actual figures have not yet been set, the HCA has said that the second phase will feature a higher percentage of affordable homes as the viability model will have changed.
The HCA's boost to the Sherford s...
20th May 2013
Moody's has downgraded the credit ratings of 29 UK housing associations for the second time this year.
The firm says its decision to downgrade by one notch was driven by a downward reassessment of the "potential provision of extraordinary support".
Moody's has also confirmed the Aa3 rating of Affinity Sutton Group, concluding a review started in February.
The downgrade reflects Moody's faith in the ability of regulator the Home and Communities Agency (HCA) to step in and protect housing associa...
20th May 2013
Liverpool City Council is issuing guidance to help its tenants beat the bedroom tax.
With around 11,000 social housing tenants in Liverpool affected by the government's controversial policy, the council has released the following advice for those mounting challenges:
• There is no charge for submitting an appeal or asking for information from the council to support the appeal;
• The council will be writing to people who have requested information asking them to set out their case for ...
20th May 2013
The outgoing governor of the Bank of England, Sir Mervyn King, has warned the government that its Help to Buy scheme should not become permanent.
Announced by chancellor George Osborne in March's Budget, the scheme is due to come into effect in January and will offer government guarantees of 15% on homes worth up to £600,000.
But Mr King said he was concerned that the scheme could expose taxpayers to £billions in private mortgage debt.
He said: "We had a very healthy mortgage market ...
17th May 2013
The Local Government Association (LGA) has claimed that the national housebuilding slump could be halted by a council-backed programme to build tens of thousands of new homes.
Council leaders are now urging chancellor George Osborne to help the construction industry in next month's spending round by removing "unnecessary" restrictions on council investment in new housing.
New government figures for the year's first quarter show that the number of completed new homes has continued to drop.
With 4...
17th May 2013
A housing chief has issued a second warning to government over its reforms of the benefits system.
Ian Munro, chief executive of New Charter Housing Trust Group, has said that his tenants struggled with almost £3 million worth of debt last year.
In March, Mr Munro wrote to prime minister David Cameron expressing his concerns about the "unfair and incompetent" bedroom tax.
Residents referred to New Charter’s financial support team, Moneycare, are struggling with individual debt of arou...
16th May 2013
At least 1.3 million UK families are spending more than they can reasonably afford on housing costs, new analysis has revealed.
The research from the Resolution Foundation shows that housing expenditure is eating up 35% of the net income of almost one in four low-to-middle income households.
The findings reveal that of the 1.3 million families with unaffordable housing:
• 590,000 are private renters• 585,000 are owners with a mortgage• 100,000 are social renters• Two thirds...
15th May 2013
The Post Office has launched three new current accounts designed to offer a "more inclusive approach" to banking with no hidden charges and access to the largest branch network in the UK.
The Post Office, working in partnership with Bank of Ireland UK, will offer Standard, Packaged and Control accounts each designed to appeal to different customer needs
An initial pilot will launch in 29 branches in East Anglia providing valuable insight into how the Post Office could adapt its offering before ...
15th May 2013
The controversial payday loan industry has released a report analysing its customer base and identifying the challenges and issues faced by consumers.
Launched at the Houses of Parliament, the Consumer Finance Association (CFA) commissioned report - 'Credit Crunched: A commentary on the UK’s changing attitudes towards borrowing and spending' - highlights:
• The diversity of people that are accessing short-term credit;• Key areas for consideration by lenders and policymakers; and&...
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