Home Buying news in 2023
12 stories, newest first.
- November 2023
Leasehold and Freehold Reform Bill introduced to Parliament
The Leasehold and Freehold Reform Bill was introduced to Parliament on 27 November 2023, setting out measures to change lease extension, freehold purchase and service charge rules in England and Wales.
Mortgage Guarantee Scheme deadline extended to 30 June 2025
The government has extended the deadline for new 95% mortgages under its Mortgage Guarantee Scheme to 30 June 2025, updating the scheme's policy paper on 23 November 2023.
Autumn Statement extends mortgage guarantee scheme to June 2025 and cuts employee National Insurance by 2p
The Chancellor has extended the mortgage guarantee scheme to June 2025 and cut the main rate of employee National Insurance by 2p, alongside tax and spending measures worth around £17 billion a year.
- June 2023
Government publishes Mortgage Charter with lenders covering 85% of mortgage market
The government published the Mortgage Charter on 26 June 2023, with lenders covering 85% of the UK mortgage market committing to measures for borrowers in financial difficulty.
- April 2023
Help to Buy 2 scheme ended in England
The Help to Buy 2 equity loan scheme closed to new applications in England at the end of March 2023, after two years in which it was restricted to first-time buyers.
Help to Buy - Wales opens to first-time buyers and home movers with a 5% deposit for homes up to £300,000
The Welsh Government's Help to Buy Wales shared equity loan scheme applies to new-build homes up to £300,000 from 1 April 2023, for first-time buyers and home movers with a 5% deposit.
Help to Buy - Wales price cap rises to £300,000 with EPC B requirement
The Help to Buy Wales purchase price cap rose from £250,000 to £300,000 on 1 April 2023, and every home sold through the scheme must now meet a minimum energy rating of EPC B.
- March 2023
Help to Buy scheme closed in England
The Help to Buy equity loan scheme in England closed at the end of March 2023 after ten years, with an official evaluation later finding it supported first-time buyer sales but also pushed up prices in some areas.
- February 2023
Schedule 4ZA temporarily modified by the Stamp Duty Land Tax (Temporary Relief) Act 2023
The Stamp Duty Land Tax (Temporary Relief) Act 2023 modified Schedule 4ZA of the Finance Act 2003 from 8 February 2023, changing the higher rates of stamp duty land tax for additional dwellings.
Stamp Duty Land Tax (Temporary Relief) Act 2023 receives Royal Assent
The Stamp Duty Land Tax (Temporary Relief) Act 2023 received Royal Assent on 8 February 2023, putting higher SDLT thresholds into law until 31 March 2025.
Share of first-time buyers taking ultra long-term mortgages more than doubles
UK Finance figures show 18% of first-time buyers took out a mortgage term longer than 35 years in February 2023, up from 8% a year earlier, as longer terms spread among home movers too.
- January 2023
SDLT Bill amendments and third reading in Commons
Amendments making the stamp duty land tax reduction temporary were tabled and the Bill had its third reading in the Commons on 10 January 2023, ahead of Royal Assent on 8 February 2023.