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Insta-mortgages are an instant hit with new lender Generation Home

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insta mortgages are an instant hit with new lender generation home

Aspiring homeowners struggling to raise a large enough deposit to qualify for a mortgage might find they now have an alternative option – available through Instagram. 

Generation Home is a brand new mortgage lender, launching earlier this month and marketing its home loans to Britons through social media.    

While all other UK mortgage lenders require buyers to have a cash deposit, this lender lets buyers team up with friends or relatives who can ‘invest’ in the property alongside homeowners to boost their buying power.   

The rate of homeownership among young people has slumped over the  past 20 years

The rate of homeownership among young people has slumped over the  past 20 years

Home Generation is working to reverse the trend

Home Generation is working to reverse the trend

Generation Home claims to create ‘better ways’ to buy with family or friends

This model effectively means buyers with a small deposit can invite others to put some cash into their home purchase and in exchange, own a share of the property. 

Another option allows friends or family members to top up monthly payments. 

The lender was founded by husband and wife team Will Rice and Sophia Guy-White after they tried to buy their first home jointly with some friends a few years ago. 

‘This has just been a life saver’

Generation Home customers Rosalyn (25) and Peter Greenwood (23) are in the process of buying their first home

Generation Home customers Rosalyn (25) and Peter Greenwood (23) are in the process of buying their first home

Generation Home customers Rosalyn (25) and Peter Greenwood (23) are in the process of buying their first home

Rosalyn, 25, and Peter Greenwood, 23, discovered Generation Rent on Instagram.

They are currently in the process of buying their first home in Bath.

Rosalyn, a full-time mum, said that even with a 15 per cent deposit no mortgage lender could give them what they required even though they could easily afford the mortgage repayments.

Generation Rent’s ‘home booster’ option enabled Rosalyn’s Dad to use some of his income to help them borrow the necessary mortgage amount.

Peter, who works for Open Reach, said: ‘It was literally a pipe dream for ages. 

‘We really wanted to get on the market but we just didn’t see how it would be possible in our situation without saving for a further 10 years. 

‘This has just been a life saver. They have given us an option that just was not there before.’

‘When we spoke to banks, we discovered they would not consider us as a group. They only wanted to assess us a married couple,’ says Guy-White. 

‘So we began thinking about how we could offer a solution to young people like ourselves that would empower them to be able to afford more by collectively pooling together with friends and family.’

In just two weeks since first advertising through Instagram, Generation Home has received applications worth hundreds of millions of pounds – all through social media platform Instagram. 

Rice says: ‘I think we’re doing the world’s first Insta-mortgages. We have taken people from clicking through an advert on Instagram, all the way to now owning a house which is pretty exciting.’ 

While the lender is currently offering loans directly to buyers, Rice confirms their deals will be available through mortgage brokers at Mortgage Advice Network from Q1 next year and then more broadly through Legal & General’s mortgage club advisers. 

Rice added: ‘While we have our own in-house advisers, we also understand that independent advice is really important to customers, particularly to first-time buyers. 

‘We’re being very careful about who we partner with. We want to ensure that there’s a really high quality of advice provided by that third party.’  

How does it work? 

There are two options: home booster and home investor. 

The home booster option allows buyers to add a friend or family member’s income to their mortgage application so that they can afford to borrow more. 

This person – or people – can make regular payments or simply be on standby until you don’t need their support. 

The home investor option allows a friend or family member to help with the deposit. They can choose to be repaid, or to gift this money later on. 

Say you and your partner have raised £10,000 to buy your first home together. You want to purchase a property worth £200,000, meaning your deposit is equal to 5 per cent. 

At the moment, there are no mortgages available at 95 per cent loan-to-value, meaning your purchase simply can’t go ahead unless you have a willing family member who is prepared to give you £10,000 or tie it up with your mortgage lender for a fixed amount of time.

Generation Home is different. Say you have a brother and a god parent, both of whom have spare cash and want to help you get on the ladder – but not for nothing. 

Using the home investor option, Generation Home allows you and your partner to apply for a 90 per cent LTV mortgage using your £10,000 cash deposit, plus £5,000 from your brother and another £5,000 from your god parent. 

In return, your brother and god parent each own 2.5 per cent of your property, you own 95 per cent of it and it has a 90 per cent mortgage secured against it. 

Rice explains: ‘Our research has found that over 60 per cent of parents would be willing to provide greater deposit support to their children if they were able to invest alongside them with a view to getting the funds back at a later date. 

‘Their investment amount was more than double their proposed gifting amount.

‘Our deposit booster lets you do this. We provide the legal framework, securing your investment against the property and acting as your agent for the return of funds.’  

Generation Home also enables users to set specific targets on how this ownership pans out. 

The lender monitors the value of your home in real time, and offers the option of linking up banking details through secure open banking to enable it to monitor changes to income and affordability. 

It will send alerts when your loan-to-value hits a certain point – say, 80 per cent – and inform you that if you were to remortgage, you could buy out your co-owners. 

With the home booster option, those who ‘help’ boost buyers’ income and pay a small amount monthly towards the mortgage build up ‘shares’ in the property, which they can either keep and be repaid for or gift to buyers at a later date. 

The ‘deposit booster’ is the big game changer

34949584 8885765 image a 14 1603889021167

34949584 8885765 image a 14 1603889021167

Sebastian, 32, and Liv Miller, 31, are Generation Home’s first customers and recently completed on a maisonette in Tufnell Park in North London.

Sebastian and Liv, who both work in renewable energy, were struggling to raise a sufficient deposit in order to buy in London. By using Generation Home, some friends of theirs were able to boost Sebastian and Liv’s deposit by investing directly in the property they ended up buying.

Sebastian explains: ‘Generation Home creates a framework which removes the risk to both yourself and your friends who invest.

‘Yes, it may not offer the absolute best rates, but it’s competitive, and the ‘deposit booster’ is the big game changer because it removes the awkward conversations and side deals that would otherwise be required.

‘For the home investor, they know their money is safe, while we as a recipient felt better about it because we don’t feel like we have taken advantage of anyone.’ 

‘Each pound put towards the deposit and mortgage repayments is captured by our accounting system and reflected in each individual’s stake in the property,’ explains Rice. ‘So, if you’re paying more, you are issued with more shares.’ 

Guy-White adds: ‘Our ledger ensures the fair division of ownership in the property where the owners – and any family supporters – want to manage their finances separately.’

Examples would include an unmarried couple who keep their finances separate, siblings or friends owning together, or a parent providing repayment support for a mortgage. 

How does it compare? 

A selection of rates on offer to first-time buyers from Generation Home

A selection of rates on offer to first-time buyers from Generation Home

A selection of rates on offer to first-time buyers from Generation Home

Generation Home offers a full range of options for those looking to borrow with a deposit from 40 per cent to 10 per cent.

Rates are not the cheapest in the market, but those looking to use Generation Home are probably not able to qualify for the best buys anyway.

You’re paying a few decimal points more to be able to take advantage of the much more flexible approach to measuring what you can afford to borrow. 

Generation Home offers a two-year fixed rate up to 90 per cent loan-to-value, with an interest rate of 4.25 per cent and no fee. An option with a £999 fee is available with a lower rate of 3.99 per cent. 

 It’s a nice concept and it’s actually pretty easy to understand once you arrive on its website. It’s trying to help people onto the property ladder.
Andrew Montlake, Coreco 

In comparison, the cheapest offer currently on the market for someone looking to buy with a 10 per cent deposit is with Virgin Money which is offering a two-year fixed rate of interest at 3.64 per cent with a £745 fee.  

If you were to purchase a £200,000 home with a £180,000 mortgage over a 25-year term, your monthly repayments would amount to £918 with Virgin and £975 with Generation Home on its fee free deal. 

While the latter does cost more, most mortgage lenders have restricted the number of mortgages available to first-time buyers with less than a 15 per cent deposit amid worries that house prices could fall and an overwhelming number of applications putting pressure on their systems.

Andrew Montlake at mortgage broker Coreco said: ‘With the widespread withdrawal of 90 per cent mortgages the outlook for first-time buyers is quite bleak at the moment.

‘Especially at a time when they would want to be making the most of the stamp duty holiday.’

Montlake praised Generation Home’s ‘innovative’ and ‘inspiring’ approach to mortgage lending. 

‘It’s a nice concept and it’s actually pretty easy to understand once you arrive on its website. It’s trying to help people onto the property ladder,’ he said.

‘It has taken an innovative and inspiring approach during a time when other mainstream lenders are struggling to service first-time buyers.’  

Alternative options for buying with family 

There are several options for buyers who need help with their deposit. 

Barclays Family Springboard mortgage lets home buyers borrow up to £500,000 deposit-free at an interest rate of 3.25 per cent fixed for five years by linking their mortgage to a friend or relative’s savings.

These savings – the equivalent of 10 per cent of the value of the home – are locked away in a Barclays fixed term savings account for five years as security for the home loan, while the home buyer pays down the mortgage.

While it’s called the Family Springboard mortgage, it doesn’t need to be a family member doing the helping – Barclays says anyone with the equivalent deposit can act as the guarantor.  

On the same mortgage amount as above, monthly repayments on this deal would be £877.   

Other similar options include Family Building Society’s Family mortgage, and the Tipton’s Family Assist mortgage.

The Post Office’s Family Link mortgage is currently unavailable due to the pandemic and Post Office doesn’t yet have a date when this will be reintroduced. 

All of these restrict who can help to family members – usually a parent, whereas Generation Home doesn’t restrict who can chip into the deposit, so long as they have the money, can afford to invest it and understand how doing so will affect their own ability to borrow.  

Are there any limits on who can apply?

Generation Home requires borrowers to have the permanent right to reside in the UK whilst it does not accept applications from borrowers with bad credit.

The lender will allow for anywhere between one and six people to be on the same mortgage. 

Britain’s banking is increasingly online 

 The dawn of open banking at the start of this year promised a revolution in the way individuals manage their money, allowing different providers’ technology systems to ‘talk’ to each other if customers give their permission.

It promises customers safety online and indeed, the most recent statistics from the Open Banking Implementation Authority show over 3 million uses of API calls in July where a customer accessed a service that required open banking – up from 2 million in June. 

Guy-White says Generation Home is keen to reduce the number of documents required from purchasers by using open banking which they hope will particularly appeal to the self-employed.

This essentially allows the lender to automatically see what your financial position is so that they can give a more accurate assessment of how much you can borrow. 

While not yet available to the self-employed, they are planning to offer this ‘real-time’ affordability underwriting next year. 

This would mean no longer having to submit annual accounts and bank statements when applying for a mortgage. It would also allow for a more complex calculation on how much these borrowers can afford. At the moment, lenders typically take an average annual income based on the past three years and lend against around half of that.   

Buy-to-let is not on offer, and both Rice and Guy-White say they’ve no plans to extend into this market. 

What happens to investors’ money if couples break up?

According to Rice and Guy-White, their Generation Home agreement establishes legal parameters which removes the risk of parents losing out were their children to break up with a partner whom they had bought with.

‘The money is still theirs, it is secured against the property and Generation Home acts as their agent for repayment of the funds.’ 

Should you apply?

Raising a deposit is the greatest barrier for most young people hoping to buy their first home and Generation Home is trying to help address this.

The new lender is also offering 90 per cent mortgages which will be a huge draw considering the disappearance of these products across the sector.  

Boris Johnson might claim he is going to transform ‘Generation Rent into Generation Buy’ but at the moment Generation Home is the one putting its money where its mouth is.

This post first appeared on dailymail.co.uk

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Hope for first-time buyers as YBS launches 90% mortgages

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hope for first time buyers as ybs launches 90 mortgages

First-time buyers squeezed by the mortgage crunch have been given another ray of hope as Yorkshire Building Society launches home loans for borrowers with a 10 per cent deposit. 

The move from one of Britain’s biggest building societies is better news for borrowers who have seen nine in ten of the mortgages for those with a 10 per cent deposit available in March wiped off the market – leaving just 71 deals from a handful of lenders.

But with a 3.69 per cent two-year fixed rate and 3.79 per cent five-year fixed rate, the YBS deals will cost borrowers considerably more than what’s on offer to those with bigger deposits.

Yorkshire Building Society is one of the few lenders to offer a 90% LTV deal for first-time buyers and those looking to remortgage currently

Yorkshire Building Society is one of the few lenders to offer a 90% LTV deal for first-time buyers and those looking to remortgage currently

Yorkshire Building Society is one of the few lenders to offer a 90% LTV deal for first-time buyers and those looking to remortgage currently

Two-year fixed rates are on offer below 1.3 per cent and five-year fixes below 1.5 per cent for those with buying with 40 per cent deposits. 

The YBS deals are aimed at first-time buyers and existing homeowners with less equirt who want to move house or remortgage.

Banks and building societies slashed high loan-to-value mortgages after the Covid-19 pandemic and lockdown hit. 

Many blamed the volume of demand for mortgage holidays, combined with staff working at home, but they are also concerned about negative equity if house prices fall and job losses that could see borrowers struggle to pay their mortgage.

Ben Merritt, senior mortgage manager at Yorkshire Building Society said: ‘We’re committed to supporting borrowers with smaller deposits and are really pleased to offer these mortgages again – there’s certainly been a gap in this part of the market for some months.

‘Thanks to the hard work of our front line colleagues we now feel we’re in a better position to continue supporting existing borrowers who need a payment holiday and launch mortgages for new customers, while maintaining the high standard of service our customers expect.’

Is YBS’s mortgage a good deal?

YBS is offering a 3.69 per cent two-year fixed rate with a £995 product fee for home purchases and remortgages. 

What about the self-employed?

The self-employed do qualify for YBS’ 90 per cent product – even if they’ve been granted support by the government.

Merritt says: ‘Yes, we continue to accept applications from self-employed customers who have taken government support. 

‘We may however, need to request additional documents to confirm the income is sustainable for an applicant’s individual circumstances.’

It also offers a 3.79 per cent five-year fixed rate with a £995 product fee for home purchases and remortgages. 

All its house purchase mortgages come with a free standard valuation, and those looking to remortgage get paid legal fees.

But the rate is not the lowest out there though. 

Rachel Springall, finance expert at Moneyfacts, says: ‘These are competitively priced and may well attract borrowers looking to save on the upfront cost of their deal as they come with a free valuation and allow borrowers to add the product fee to the mortgage advance.

‘For first-time buyers there are alternative deals to consider in the market such as Nationwide, of which their two-year fixed is priced at 3.49 per cent and their five-year at 3.54 per cent both with free valuation and £500 cashback incentive.’

The Yorkshire’s intermediary arm, Accord Mortgages, also offers a range of 90 per cent LTV mortgages.

Ben Merritt, of Yorkshire Building Society says the lender can continue supporting existing borrowers and offer new deals

Ben Merritt, of Yorkshire Building Society says the lender can continue supporting existing borrowers and offer new deals

Ben Merritt, of Yorkshire Building Society says the lender can continue supporting existing borrowers and offer new deals

David Hollingworth of L&C Mortgages says: ‘Other lenders like Nationwide, Metro Bank, Platform and Virgin Money are some of the other lenders that currently offer 90 per cent deals and others have dipped in and out with products when possible. Atom Bank has just launched some rates today.’

Borrowers considering a 90 per cent mortgage will pay much more than before the pandemic.

Mark Harris, chief executive of mortgage broker SPF Private Clients, says: ‘Sadly, the lack of availability means borrowers have seen high LTV rates rise. 

‘Twelve months ago, 90 per cent two-year fixes were available from less than two per cent but now the equivalent products cost well over three per cent, despite rock-bottom interest rates.’

Those considering waiting for a better deal or more options may have to wait a bit, although things have improved slightly.

Since March 701 of the available 90 per cent LTV products have been axed – leaving just 78 on the market – a slight increase from the 56 available at the beginning of the month. 

Twelve months ago, 90 per cent two-year fixes were available from less than 2 per cent but now the equivalent products cost well over  3 per cent 

But even though more lenders are willing to put their toe in the water, Springall believes that the return of the 90 per cent deals will be a gradual process.

She says: ‘It’s a great sign when you have the likes of YBS coming on and available to everyone but building societies are very different to banks.

‘It will take time for other lenders to follow their lead. That’s why we’ll see certain lenders like Atom Bank offering to just first-time borrowers and buyers and then if this works they will have deals available to those that want to remortage.’

Figures from Moneyfacts highlight the few options borrowers have to choose from if they have smaller deposits, with mortgages above 90% hacked back

Figures from Moneyfacts highlight the few options borrowers have to choose from if they have smaller deposits, with mortgages above 90% hacked back

Figures from Moneyfacts highlight the few options borrowers have to choose from if they have smaller deposits, with mortgages above 90% hacked back

Will the mortgage remain on the market?

This year has seen a few 90 per cent LTV lenders enter the market only for those offers to disappear following hype and an influx of applications.

YBS’s product is likely to be a popular offering given its competitive rate. 

Merritt says there’s no current restriction on the number of applicants the building society is willing to take on.

He explains: ‘We don’t have a set threshold for these products, but we will continue to monitor our service levels to ensure we continue to offer the high levels of service our customers expect.’

YBS says it’s able to offer qualifying customers a mortgage in 15 days, which means that borrowers will be able to take advantage of the stamp duty holiday.

Merritt says: ‘There are still a number of months to go before the stamp duty holiday deadline. 

‘On average we provide customers with a mortgage offer in less than 15 days, but of course there are a number of factors involved with the wider house buying process that could affect completion timescales, out of our control.’

What type of homes can I buy?

There are some types of properties that Yorkshire Building Society won’t lend on. These include:

· Pre-cast re-enforced concrete properties, designated under the Housing Act 1985, unless they have been repaired by PRC Homes Ltd, a subsidiary of the NHBC.

· Local Authority multi-storey blocks

· Dwellings constructed by timber, i.e., not clad with brick, stone etc, including  log cabin/chalet type of construction

· Single brick (single skin) construction

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Bitcoin price: Why has it fallen 12.5% in a day?

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bitcoin price why has it fallen 12 5 in a day

Bitcoin’s seemingly unstoppable surge towards an all-time high and a $20,000 price tag went into reverse as holders tried to cash in their gains for a profit.

The price of the cryptocurrency plummeted more than 12 per cent over the last 24 hours from a peak of $19,374 a coin on Wednesday to $16,858, according to figures from Coindesk.

Fellow cryptocurrencies like ethereum and ripple have also plunged in price over the last 24 hours, while bitcoin’s fall was its sharpest since the start of September.

Bitcoin plunged by more than 12% in the last 24 hours just as it looked set to hit an all-time high

Bitcoin plunged by more than 12% in the last 24 hours just as it looked set to hit an all-time high

Bitcoin plunged by more than 12% in the last 24 hours just as it looked set to hit an all-time high

It had looked set to break its all-time high of around $19,500, set in December 2017, driven by a series of good news stories, endorsements from institutional investors and continued money printing by central banks. 

The fact the price of the cryptocurrency had risen from just under $8,000 in January to the verge of $20,000 a coin without serious interest from casual investors had led some to argue the boom this time around was here to stay for a while yet.

This is Money has previously reported on the factors driving the cryptocurrency’s rise, including endorsements by the likes of PayPal and JP Morgan, which said it could possibly compete with gold as an alternative store of value. 

However, this positivity has been somewhat dented by the sudden plunge in the bitcoin price, which appeared to be the result of a massive sell-off by high net worth holders of the cryptocurrency.

The sharp drop is yet more proof of the cryptocurrency’s volatility and why This is Money warns casual investors looking to buy into it that they need to do their research and be careful beforehand.

According to bitcoin analysts Glassnode, the number of investors holding at least 1,000 bitcoin reached an all-time high this week, with the concentration of large sums of the cryptocurrency in the hands of a small number of investors giving them a significant influence on the market.

Another analyst, Ki Young Ju, wrote on the social media platform Twitter that these holders of large sums of bitcoin had sold off their holdings, causing the price to fall.

Bitcoin has been on a tear since the end of the summer and is still massively up on where it was at the start of this year

Bitcoin has been on a tear since the end of the summer and is still massively up on where it was at the start of this year

Bitcoin has been on a tear since the end of the summer and is still massively up on where it was at the start of this year 

And one of the most well-known cryptocurrency exchanges, Coinbase, said traders were being hit by connectivity issues as they tried to make purchases or sell-off their holdings. The San Francisco-based exchange said it had found and fixed the problem.

Responding to the sudden drop, Glen Goodman, the author of the book The Crypto Trader, said: ‘When Bitcoin approached $20,000 in 2017, more people were queueing up to buy it than ever before.

‘Many of those buyers have been holding their investment – in varying degrees of misery – ever since.

‘The pressure now, not least from their long-suffering partners, is to sell and finally break even on their investments.

‘With their fingers hovering over the “sell” button, when the price started retreating slowly down to $19,000 and then $18,500, it led to a flurry of panic sellers grabbing their chance to break even, and those sellers caused the price to crash fast.’

However, he still said the long-term picture for the cryptocurrency was ‘very positive’, despite the possibility of ‘a lot more price volatility in the near future’.

He added: ‘This appears so far to be a healthy correction in a big bull market. In my opinion, only a fall to $10,000 would put that bullish narrative in question.’

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Just FOUR councils applied to use a new hedgehog warning road sign

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just four councils applied to use a new hedgehog warning road sign

A new traffic sign launched by the Department for Transport for councils to display on roads with high populations of hedgehogs, badgers, otters and other small animals has received a prickly response with just one per cent of authorities applying to use it.

The sign, unveiled last year, displays one of the spiky creatures in a red warning triangle and was designed to help preserve dwindling hedgehog numbers and reduce the number of people injured in collisions involving animals.

However, This is Money can exclusively reveal that all four councils who did apply to erect the signs were denied permission because they did not provide enough evidence to the DfT that they have a high concentration of the animals in their areas.

Prickly reaction: Just four councils have applied to the Department for Transport to use a hedgehog warning sign on roads that put the animals and drivers and riders at risk

Prickly reaction: Just four councils have applied to the Department for Transport to use a hedgehog warning sign on roads that put the animals and drivers and riders at risk

Prickly reaction: Just four councils have applied to the Department for Transport to use a hedgehog warning sign on roads that put the animals and drivers and riders at risk

Of the 343 councils that could have requested to display the signs on their roads, only Newcastle City Council, Middlesbrough Council, Surrey County Council and East Riding of Yorkshire Council applied, according to an Freedom of Information request by the AA.

All four subsequently had their applications denied, the DfT confirmed.

The department clarified that all four had ‘failed to evidence any concentrations of small animals habitually in the road, or provide any accident data’.

Councils and animal conservationists will query how they can feasibly provide evidence of hedgehogs being at risk on their roads. 

‘Rejection of the applications based on failing to provide adequate evidence conjures up all sorts of weird scenarios: council officers counting the bodies or sending off the evidence in jiffy bags,’ said an AA spokesman. 

He added: ‘Common sense suggests that, if cash-strapped councils are prepared to fork out the money for the signs and the manpower to erect them, there is probably the local need for them.’

The signs are to warn of small animals, including hedgehogs, badgers, otters and squirrels. Hedgehogs in particular are now on the Red List of endangered UK species

The signs are to warn of small animals, including hedgehogs, badgers, otters and squirrels. Hedgehogs in particular are now on the Red List of endangered UK species

The signs are to warn of small animals, including hedgehogs, badgers, otters and squirrels. Hedgehogs in particular are now on the Red List of endangered UK species

The decision to deny these authorities will has left the British Hedgehog Preservation Society bristling in frustration.

Hedgehog numbers have plummeted in recent years, halving in volume since 2000.

The animals now find themselves on the Red List of endangered UK species.  

Fay Vass, chief executive at the British Hedgehog Preservation Society, told This is Money: ‘We are disappointed that more authorities aren’t applying for the small mammal signs that feature a hedgehog and that the DfT are rejecting those that do. 

‘We know from interaction with the public that these signs would be very welcome in many areas where hedgehog road casualty counts are high. 

‘In the meantime, we produce a sign that can be purchased for display on private property, but we very much hope that the official signs will soon begin to be erected in the spirit they were intended. 

‘They are important to warn people that small animals might be on the road in that area, not only for the sake of the animal, but to help reduce risk for drivers too.’

The AA asked how councils could feasibly provide evidence that they have roads with high concentrations of small animals

The AA asked how councils could feasibly provide evidence that they have roads with high concentrations of small animals

The AA asked how councils could feasibly provide evidence that they have roads with high concentrations of small animals

The new traffic warning sign was launched in 2019 by former transport secretary Chris Grayling, including a bespoke announcement and plenty of fanfare around the sign. 

It was unveiled as the DfT said hundreds of people are injured every year in collisions involving animals in the road, claiming that 629 people were injured in accidents involving an animal in the road (excluding horses) and 4 people were killed in 2017 alone. 

Mr Grayling called on local authorities and animal welfare groups to identify accident and wildlife hotspots where the sign should be located.  

He said: ‘The new small mammal warning sign should help to reduce the number of people killed and injured, as well as helping our precious small wild mammal population to flourish.’ 

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