Council Housing Company Threatened With Strike-Off Over Late Accounts

A council housing company has been threatened with dissolution for failing to file its accounts on time. Luton Borough Council’s company, Foxhall Homes, was hit with a ‘first Gazette’ notice by Companies House. It blamed the delay on the pandemic and said it failed to inform Companies House because of an “administrative error”. The company’s accounts for 2019/20 are now more than seven months overdue, with no financial results filed since October 2019. Read more on Inside Housing.

https://www.insidehousing.co.uk/news/news/council-housing-company-threatened-with-strike-off-over-late-accounts-71003

Help to Buy Supports Only 47,000 Mortgages - 60% behind Chancellor's Target

George Osborne’s Help to Buy scheme to get would-be home owners on the property ladder is more than 60% behind target. It was introduced by the Chancellor to help those who can afford a mortgage but do not have enough cash for a deposit. It means that qualifying buyers can put down just 5% of the sale price with the lender providing the remaining 95%. And the Government guarantees the mortgage company for losses if the borrower defaults. The scheme started in January 2014 and is set to run until 2020. But the number of mortgages supported is 47,000 according to the Treasury’s annual accounts. And the Chancellor had hoped for a take-up of more than 118,000. Read more on the Sunday People website.