Chancellor of the Exchequer Rishi Sunak announced a number of measures affecting the property sector in the UK government’s 2021 budget, but Propertymark believes more should be done to tackle COVID-related rent arrears.

As stated in Representation of the 2021 budget of PMRA Propertymark, Propertymark focused on six key areas to support members:

  • Provide financial support to the private rental sector
  • Increase the local housing allowance
  • Ensure that universal credit is adequate and more efficient
  • Reopen courts to deal with the backlog of housing cases
  • Support investment in the private rental sector
  • Build more social housing

Propertymark has also worked with other industry organizations calling for a targeted financial package to help tenants pay off arrears accumulated since foreclosure measures began in March of last year. This will help maintain existing rentals and keep tenants in their accommodation, while ensuring that rental debt is not at risk of causing them to find accommodation in the future.

February 18, 2021

The Chancellor must act to deal with the rental debt crisis

Propertymark, alongside other sector organizations, calls on the Chancellor to act now and agree on a targeted financial package to help private tenants pay COVID-19 rent arrears to help maintain existing rentals and keep tenants in their homes.

Increase in universal credit

The UK government has announced an extension of the temporary £ 20 per week increase in the Universal Credit Standard Allowance for an additional six months which applies to all new and existing Universal Credit applicants and they will maintain the £ 2,500 higher capital gain threshold for Universal Creditors for an additional year until April 2022.

Propertymark believes that this does not solve the fundamental problems that continue to make universal credit inadequate and inefficient for both tenants and landlords in the private rental sector. In order to maintain rentals and support tenants, the UK government needs to do three things:

  1. tenants should have the choice of whether the housing component of their universal loan is paid directly to their landlord.
  2. all applicants should be able to choose to have universal credit paid monthly or twice a month to help with budgeting.
  3. to cope with rent arrears, the advance from Crédit Universel must be transformed into a non-refundable grant from the first day of the claim. With these changes, Universal Credit can offer more flexibility and better reflect the reality of life for applicants, especially those with low incomes, and better support rentals in the private rental sector.

Extension of real estate tax relief on stamp duties

Since the announcement of the stamp duty property tax relief, Propertymark and its members have collectively lobbied the UK government to avoid a precipice leading to the failure of thousands of sales.

The UK government has announced that the zero rate bracket up to £ 500,000 will end on June 30, instead of March. A transitional zero rate tranche of up to £ 250,000 will be in place until September and then drop to £ 125,000 from October. This is great news for the industry as a whole and Propertymark is happy that the Treasury has listened to our campaign.

In addition, a new mortgage guarantee program in April 2021 will provide security to lenders across the UK who offer mortgages to people with a deposit of just 5% on homes valued up to 600,000. £.

Business support announced

  • Corporate tax will drop from 19% to 25% from April 2023, but companies with profits below £ 50,000 will remain at 19%.
  • £ 3,000 will be given to companies for every new apprentice hired between April 1 and September 30, 2021.
  • The Coronavirus Job Retention Scheme (CJRS) will be extended until the end of September.
  • The leave scheme will be extended until the end of September 2021.
  • The Self-Employed Income Support Scheme (SEISS) will be extended and eligible businesses will be able to receive two more grants.

Budget 2021 →

More lobbying

Propertymark will continue to press government and industry decision makers to make these vital changes.

var element gaTagWrap = document.createElement (‘noscript’); gaTagWrap.id = ‘civic-gtm-noscript’; var gaTagMan = document.createElement (‘iframe’); gaTagMan.src = “https://www.googletagmanager.com/ns.html?id=GTM-MFJHJBD”; gaTagMan.style = “width: 0; height: 0; display: none; visibility: hidden”; gaTagWrap.appendChild (gaTagMan); document.body.insertAdjacentElement (“afterBegin”, gaTagWrap); the window[‘ga-disable-UA-4539756-11’] = false; }, onRevoke: function () {var gtmTag = document.getElementById (‘civic-gtm-noscript’); gtmTag.remove (); the window[‘ga-disable-UA-4539756-11’] = true; }, ThirdPartyCookies: [{“name”:”Google”,”optOutLink”:”https://tools.google.com/dlpage/gaoptout”}]
}, {name: ‘Marketing’, label: ‘Marketing’, description: ‘We do not provide any personal information that we collect to third parties. Targeting and retargeting cookies and advertising technologies such as Facebook pixels help us deliver relevant ads to you more effectively by collecting information about your browsing habits and site usage. We do not control social media cookies and they do not allow us to access your social media accounts. Pixels can also tell us when certain ads have been shown to you and limit the number of times you see the same ad. You can unsubscribe and change your marketing cookie preferences at any time. ‘, cookies: [“‘gt'”,”‘guest_id'”,”‘personalization_id'”,”‘tfw_exp'”,”‘metrics_token'”,”‘GPS'”,”‘PREF'”,”‘_mkto_trk'”], recommendedState: true, onAccept: function () {// ADD Facebook Pixel! function (f, b, e, v, n, t, s) {if (f.fbq) return; n = f.fbq = function ( ) {n.callMethod? n.callMethod.apply (n, arguments): n.queue.push (arguments)}; if (! f._fbq) f._fbq = n; n.push = n; n.loaded =! 0; n.version = ‘2.0’; n.queue =[]; t = b.createElement (e); t.async =! 0; t.src = v; s = b.getElementsByTagName (e)[0]; s.parentNode.insertBefore (t, s)} (window, document, ‘script’, ‘https: //connect.facebook.net/en_US/fbevents.js’); fbq (‘init’, ‘443997893541501’); fbq (‘track’, “PageView”); fbq (‘consent’, ‘grant’); var fbTagWrap = document.createElement (‘noscript’); fbTagWrap.id = ‘civic-fb-pixel-noscript’; var fbTagMan = document.createElement (‘img’); fbTagMan.src = “https://www.facebook.com/tr?id=443997893541501&ev=PageView&noscript=1”; fbTagMan.style = “width: 0; height: 0; display: none; visibility: hidden”; fbTagWrap.appendChild (fbTagMan); document.body.insertAdjacentHTML (“afterBegin”, fbTagWrap.outerHTML); //document.body.insertAdjacentElement(“afterBegin “, fbTagWrap.outerHTML); // END the Facebook Pixel // ADD LinkedIn var _linkedin_partner_id = “238970”; window._linkedin_data_partner_ids = window._linkedin_data_partner_ids || []; window._linkedin_data_partner_ids.push (_linkedin_partner_id); (function () {var s = document.getElementsByTagName (“script”)[0]; var b = document.createElement (“script”); b.type = “text / javascript”; b.async = true; b.src = “https://snap.licdn.com/li.lms-analytics/insight.min.js”; s.parentNode.insertBefore (b, s);}) (); // including the

var liTagWrap = document.createElement (‘noscript’); var liTagMan = document.createElement (‘img’); liTagMan.src = “https://px.ads.linkedin.com/collect/?pid=” + _linkedin_partner_id + “& fmt = gif”; liTagMan.style = “width: 0; height: 0; display: none; visibility: hidden”; liTagWrap.appendChild (liTagMan); document.body.insertAdjacentHTML (“afterBegin”, liTagWrap.outerHTML); // END LinkedIn}, onRevoke: function () {}, thirdPartyCookies: [{“name”:”Twitter”,”optOutLink”:”https://twitter.com/settings/account/personalization”},{“name”:”YouTube”,”optOutLink”:”https://policies.google.com/technologies/managing?hl=en”},{“name”:”Facebook”,”optOutLink”:”https://www.facebook.com/help/568137493302217″},{“name”:”Vimeo”,”optOutLink”:”https://vimeo.com/cookie_policy”},{“name”:”LinkedIn”,”optOutLink”:”https://www.linkedin.com/psettings/guest-controls/retargeting-opt-out?trk=microsites-frontend_legal_cookie-policy”}]
}, {name: ‘Social Sharing’, label: ‘Social Sharing’, description: ‘We use the AddThis social sharing plugin to make it easier for you to share certain web pages on your social media channels.’, cookies: [“‘__atrfs'”,”‘__atuvc'”,”‘__atuvs'”,”‘loc'”,”‘uvc'”,”‘xtc'”,”‘mus'”,”‘na_*'”,”‘ouid'”,”‘ssc'”], RecommendedState: true, onAccept: function () {// Add addThis var addThisScriptTag = document.createElement (‘script’); addThisScriptTag.id = ‘civic-addthis-script’; addThisScriptTag.src = “http://s7.addthis.com/js/300/addthis_widget.js#pubid=ra-4d74c2894be8ba5f”; document.body.appendChild (addThisScriptTag); var shareWidget = document. getElementsByClassName (‘widget widget-share’); if (shareWidget) {if (shareWidget[0] ) {shareWidget[0].classList.remove (‘hidden’); }} // End of addThis}, onRevoke: function () {// remove addThis var addThisScriptTag = document. getElementById (‘civic-addthis-script’); addThisScriptTag.remove (); var shareWidget = document. getElementsByClassName (‘widget widget-share’); if (shareWidget) {if (shareWidget[0] ) {shareWidget[0].classList.add (‘hidden’); }} // End remove addThis}, thirdPartyCookies: [{“name”:”AddThis”,”optOutLink”:”https://www.addthis.com/privacy/opt-out”}]
}]// Array of objects based on the CookieCategory object consentCookieExpiry: 90, statement: {description: ‘For more information on the cookies we use, please see our’, name: ‘Privacy Policy 2021’, url: ‘https: //www.propertymark.co.uk/privacy-policy.html’, updated: ’21 / 01/2021 ‘}, logConsent: true, encodeCookie: true, sameSiteCookie: true, sameSiteValue: ” Strict “, closeOnGlobalChange: true, subDomains: true, // Customize appearance and behavior initialState:” OPEN “, notifyOnce: false, fusedButton: true, layout:” SLIDEOUT “, position:” LEFT “, theme:” DARK “, toggleType:” slider “, closeStyle:” icon “, notifyDismissButton: true, settingsStyle:” button “, acceptBehaviour:” recommended “, text: {title: ‘This website uses cookies’, intro:’ Some of the cookies that we use on our website are “necessary ” (meaning they are essential for the website to function as it should), while others res help us improve your experience by providing information about how the site works. used. You have the choice as to which cookies you accept. You can change your preferences at any time. ‘ , acceptRecommended: ‘Accept recommended settings’, unlockSettings:’ Reject all ‘, requiredDescription:’ These cookies are necessary for the website to perform the main functionalities of the site. In order to disable these cookies, you may need to change your web browser settings. You can also visit www.allaboutcookies.org for more details on how to delete or reject cookies and for more information on cookies in general. Please note that changing settings will affect site performance. The settings save your login information so that the site recognizes you when you return for your convenience and to improve your experience, you can change these settings at any time. ‘ , notifyTitle: ‘Your consent to use cookies’, notifyDescription: ‘By using this site you agree that we may store and access the above cookies on your device.’ }, branding: {fontFamily: ‘URW Geometric, sans-serif’, fontSizeTitle: ’22px’, fontSizeIntro: ’18px’, fontSizeHeaders: ’18px’, fontSize: ’18px’, fontColor: ‘#FFFFFF’, backgroundColor: ‘ # 007A53 ‘, acceptText:’ # 004E35 ‘, acceptBackground:’ #FFFFFF ‘, unlockText:’ #FFFFFF ‘, toggleText:’ # 004E35 ‘, toggleColor:’ # 004E35 ‘, toggleBackground:’ # F0f0f0 ‘, alertBackground: # 004E35 ‘, 004E35′, buttonIconWidth: ’64px’, buttonIconHeight: ’64px’, removeIcon: false, removeAbout: true}, excluCountry: [], locale: “undefined”! = type of window? window.navigator.language: “fr”, locales: [

], accessibility: {accessKey: ”, HighlightFocus: false}}; CookieControl.load (config); var onPageStyle = “”; if (onPageStyle.length) {var style = document.createElement (‘style’); style.innerHTML = onPageStyle; document.head.appendChild (style); }


Source link