Appreciating value and equity build-up are the main benefits for property homeowners, BLP Insurance, a specialist residential warranty and commercial latent defects insurer, has found. Kim Vernau, chief executive at BLP Insurance, said: “With prospective first-time buyers struggling to get their foot on the housing ladder and no quick fix in sight, it’s more important than ever that the standards of rental accommodation are addressed."
A rental provider specialising in property for older tenants has attacked what he calls “hidden costs” involved when people buy purpose-built retirement units. Jamie Turnbull, business director at Girlings Retirement Rentals, says a recent survey by BLP Insurance revealed that 46 per cent of over-60s were worried about the cost of moving to a purpose-built retirement ‘village’ with 44 per cent expressing reservations about hidden fees and some 25 per cent regarding complex contracts as a “major pain point.”
The UK construction PMI came in at 43.1 in June, a dramatic drop from the 48.6 recorded the month prior and far off the market expectation of 49.3. This is the sharpest fall since April 2009, IHS Markit/CIPS says, adding that both house building and commercial building projects fell off steeply – the former being at its worst level for three years and the latter the most steeply since December 2009 – and that demand for products and materials fell at its most rapid pace since January 2010.
Two thirds (66%) of people aged 60 or over have never considered downsizing their property, according to a recent survey by BLP Insurance, a specialist residential warranty and commercial latent defects insurer.
A majority of people renting in the UK say they will NEVER be able to afford a home – although they would like to buy their own place. And almost 4 in 10 of those renting are stuck in cold, damp properties with landlords unwilling to do basic repairs and maintenance. The plight of those renting in 2019 in the UK is highlighted in a new YouGov survey on behalf of the HomeOwners Alliance and BLP Insurance.
Construction buyers have reported the sharpest fall in construction output since March 2018, as lower volumes of commercial and civil engineering work offset a modest increase in house building. That’s according to the latest IHS Markit/CIPS UK Construction Activity Index, which reported a score of 48.6 in May, down from 50.5 in April, where anything below 50.0 represents a fall in activity. It is the lowest reading since the snow-related downturn in construction output during March 2018.
Following the release of today’s Construction PMI figures, Phil Harris, Director at BLP Insurance, comments on the sector: “After bouncing back into expansion territory (50.5) following a two month period of contraction, it’s time for the construction industry to collectively stop ‘kicking the can’ down the road. The industry has been waiting with bated breath for some time for a Brexit resolution to give clarity amid palpable uncertainty. The extension of the Brexit deadline to the end of October, although not providing the assurance the sector seeks, means industry players can no longer afford to sit on their hands."
Following the release of today’s Construction PMI figures, Phil Harris, Director at BLP Insurance, comments on the sector. “After slipping into contraction last month, it was unsurprising to see little positive momentum in today’s PMI figures. The ‘Beast from the East’ ravaged the sector last March, but a year on and the market has been snowed in by Brexit. Ongoing negativity was added by Interserve, the second significant construction player after Carillion to dance on the edge of the abyss. The lenders’ bailout may have averted disaster but uncertainty remains rife for subcontractors worried about getting their pay cheques, let alone the sustainability of the big players’ business models."
A large-scale survey by a consumer group has revealed that over half of home owners regard stamp duty as a growing problem; conveyancers’ fees, the rise of gazundering and threat of negative equity are increasingly worrying too. The HomeOwners Alliance's annual survey - involving a sample of 2,000 and regarded as a snapshot of home owner sentiment - lists a range of issues that are of increasing concern for the home-owning public.
Britain's housing crisis stretches far beyond just not being able to save a deposit - with millions now trapped in suffocating leaseholds. Leasehold properties and the current lack of housing stock form the two biggest property issues right now, according to a report.