Asked by: Lord Truscott (Non-affiliated - Life peer)
Question to the Ministry of Housing, Communities and Local Government:
To ask His Majesty's Government what steps they plan to take to stop managing agents charging leaseholders excessive commission charges for renewing buildings insurance.
Answered by Baroness Scott of Bybrook - Parliamentary Under Secretary of State (Department for Levelling Up, Housing and Communities)
The Leasehold and Freehold Reform Bill seeks to ban the placer of insurance on residential leasehold properties from receiving any form of commission that is passed on to leaseholders as a cost. Instead, costs relating to the placement and management of buildings insurance will be issued through a transparent handling fee, proportionate to the value of the work done. The detail will be set out in affirmative secondary legislation.
Transparency reforms within the Bill will require the placer of insurance to disclose information about their decision-making process when purchasing buildings insurance on behalf of leaseholders. These measures will support responsible, transparent, and accountable sourcing of buildings insurance for leaseholders of multi-occupancy buildings.
Asked by: Lord Truscott (Non-affiliated - Life peer)
Question to the Ministry of Housing, Communities and Local Government:
To ask His Majesty's Government whether they plan to set the deferment rate in the Leasehold and Freehold Reform Bill to 5 per cent or greater.
Answered by Baroness Penn
Our reforms will make it cheaper and easier for leaseholders to extend their lease or purchase their freehold. An Impact Assessment for the Leasehold and Freehold Reform Bill has been carried out and published on the Parliament website at: Leasehold and Freehold Reform Bill publications - Parliamentary Bills - UK Parliament.
The rates used in enfranchisement valuation calculations will be prescribed by the Secretary of State and the Government is giving further consideration to how these rates should be reached.
The Leasehold and Freehold Reform Bill is A1P1 ECHR compliant as introduced on 27 November 2023.
We are going to launch an online calculator which will help leaseholders understand how much it will cost to extend their lease or purchase their freehold upfront.
Asked by: Lord Truscott (Non-affiliated - Life peer)
Question to the Ministry of Housing, Communities and Local Government:
To ask His Majesty's Government what plans they have to introduce an online calculator for the cost of lease extensions under the Leasehold and Freehold Reform Bill.
Answered by Baroness Penn
Our reforms will make it cheaper and easier for leaseholders to extend their lease or purchase their freehold. An Impact Assessment for the Leasehold and Freehold Reform Bill has been carried out and published on the Parliament website at: Leasehold and Freehold Reform Bill publications - Parliamentary Bills - UK Parliament.
The rates used in enfranchisement valuation calculations will be prescribed by the Secretary of State and the Government is giving further consideration to how these rates should be reached.
The Leasehold and Freehold Reform Bill is A1P1 ECHR compliant as introduced on 27 November 2023.
We are going to launch an online calculator which will help leaseholders understand how much it will cost to extend their lease or purchase their freehold upfront.
Asked by: Lord Truscott (Non-affiliated - Life peer)
Question to the Ministry of Housing, Communities and Local Government:
To ask His Majesty's Government what assessment they have made of whether leasehold reform breaches the human rights of freeholders as property owners.
Answered by Baroness Penn
Our reforms will make it cheaper and easier for leaseholders to extend their lease or purchase their freehold. An Impact Assessment for the Leasehold and Freehold Reform Bill has been carried out and published on the Parliament website at: Leasehold and Freehold Reform Bill publications - Parliamentary Bills - UK Parliament.
The rates used in enfranchisement valuation calculations will be prescribed by the Secretary of State and the Government is giving further consideration to how these rates should be reached.
The Leasehold and Freehold Reform Bill is A1P1 ECHR compliant as introduced on 27 November 2023.
We are going to launch an online calculator which will help leaseholders understand how much it will cost to extend their lease or purchase their freehold upfront.
Asked by: Lord Truscott (Non-affiliated - Life peer)
Question to the Ministry of Housing, Communities and Local Government:
To ask His Majesty's Government whether they will specify (1) the deferment rate, and (2) the rate for discounting future ground rent schemes, in the Leasehold and Freehold Reform Bill.
Answered by Baroness Penn
Our reforms will make it cheaper and easier for leaseholders to extend their lease or purchase their freehold. An Impact Assessment for the Leasehold and Freehold Reform Bill has been carried out and published on the Parliament website at: Leasehold and Freehold Reform Bill publications - Parliamentary Bills - UK Parliament.
The rates used in enfranchisement valuation calculations will be prescribed by the Secretary of State and the Government is giving further consideration to how these rates should be reached.
The Leasehold and Freehold Reform Bill is A1P1 ECHR compliant as introduced on 27 November 2023.
We are going to launch an online calculator which will help leaseholders understand how much it will cost to extend their lease or purchase their freehold upfront.
Asked by: Lord Truscott (Non-affiliated - Life peer)
Question to the Ministry of Housing, Communities and Local Government:
To ask His Majesty's Government what assessment they have made of the potential impact of the Leasehold and Freehold Reform Bill on the cost and speed of extending leaseholds.
Answered by Baroness Penn
Our reforms will make it cheaper and easier for leaseholders to extend their lease or purchase their freehold. An Impact Assessment for the Leasehold and Freehold Reform Bill has been carried out and published on the Parliament website at: Leasehold and Freehold Reform Bill publications - Parliamentary Bills - UK Parliament.
The rates used in enfranchisement valuation calculations will be prescribed by the Secretary of State and the Government is giving further consideration to how these rates should be reached.
The Leasehold and Freehold Reform Bill is A1P1 ECHR compliant as introduced on 27 November 2023.
We are going to launch an online calculator which will help leaseholders understand how much it will cost to extend their lease or purchase their freehold upfront.
Asked by: Lord Truscott (Non-affiliated - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what assessment they have made of whether banks charge fair and reasonable arrangement fees, and of the impact of such fees, combined with restrictive affordability criteria on the affordability of consumer mortgages.
Answered by Baroness Penn
The availability and pricing of mortgages, including arrangement fees, is a commercial decision for lenders in which the Government does not intervene.
It is important for both lenders and consumers that proper checks are carried out to ensure that borrowers will be well placed to repay the mortgage. Since April 2014 all lenders must now conduct an affordability assessment, which includes a robust income and expenditure analysis that will include a consideration of other debts owed. Lenders must also obtain evidence of that income to support this assessment.
The Government remains committed to making the aspiration of homeownership a reality for as many households as possible.
We operate a range of schemes that aim to increase the supply of low-deposit mortgages for credit-worthy households, including first-time buyers, increase the availability of new housing, and stimulate economic growth. These include the Mortgage Guarantee Scheme, which is open until the end of 2023, as well as First Homes and Shared Ownership through the Affordable Homes Programme. The Government also helps first-time buyers to save for a deposit through the Lifetime ISA and Help to Buy: ISA.
Asked by: Lord Truscott (Non-affiliated - Life peer)
Question to the Department for Energy Security & Net Zero:
To ask His Majesty's Government what assessment they have made of cases of energy supply companies using (1) coercive techniques, and (2) untrue statements, to try to compel customers to install smart meters.
Answered by Lord Callanan
Energy suppliers must treat customers fairly in line with their Standards of Conduct licence obligations, behave in a fair, honest, appropriate, and professional manner to ensure that consumers receive the right information to make decisions about their energy supply and have a positive experience when dealing with their supplier.
The Government expects energy suppliers to fulfil their regulatory obligations. Ofgem is responsible for regulating energy suppliers against their obligations.
Asked by: Lord Truscott (Non-affiliated - Life peer)
Question to the Department for Transport:
To ask His Majesty's Government what plans they have to (1) stop, or (2) scale back, HS2; and what estimate they have made of the savings to the taxpayer in either case.
Answered by Baroness Vere of Norbiton
Spades are already in the ground on the HS2 programme and we remain focused on its delivery.
Asked by: Lord Truscott (Non-affiliated - Life peer)
Question to the Ministry of Housing, Communities and Local Government:
To ask His Majesty's Government, further to the Written Answer by Baroness Scott of Bybrook on 20 July (HL9153), whether legislation in the Renters (Reform) Bill will override leases in apartment blocks which ban short lets.
Answered by Baroness Scott of Bybrook - Parliamentary Under Secretary of State (Department for Levelling Up, Housing and Communities)
I refer the noble Lord to the previous answer given on this matter HL9153 on 20 July 2023.