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Right to Buy - Unethical/Sinister change?

Zizou
Zizou Posts: 17 Forumite
in House buying, renting & selling
Hi

I was using right to buy calculator righttobuy.gov.uk/right-to-buy-calculator and have noticed that they have switched off auto-calculation for 'Insert an estimated value of your property'.

When I spoke to them they said now you have to enter the value of the property you are trying to buy, which is based on the market value (inflated - estate agent prices), and then it will calculate your discount for e.g.

3 bed flat in East London Zone 2 in London was sold by an estate agent for £800,000 so the council will now take this figure and then add whatever discount is available in that area (104,000). This flat will now cost you £696,000 to buy! (And the funny this is that bank can only lend you up to £600,000, and the rest you have to put that as a deposit!)

The government have changed the rules snidely behind the backdoor, making it more difficult to buy!!
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Comments

  • theartfullodger
    theartfullodger Posts: 14,588 Forumite
    Name Dropper First Anniversary First Post
    Are you suggesting the discount you will be receiving from the government, paid for by all us tax-payers, is in your opinion insufficient? I'm merely asking a calm & polite question, not in any way making any form of criticism.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    Name Dropper First Post Photogenic First Anniversary
    D- must try harder.
  • fairy_lights
    fairy_lights Posts: 9,220 Forumite
    That's not even remotely sinister
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    First Anniversary Name Dropper First Post
    Its an estimate just like the auto calculation. So what is the difference?
  • Running_Horse
    Running_Horse Posts: 11,807 Forumite
    First Anniversary Combo Breaker
    Oh dear, what a pity, never mind.
    Been away for a while.
  • NineDeuce
    NineDeuce Posts: 997 Forumite
    Shouldnt happen. The tenants should at least have to pay market rate.
  • ProDave
    ProDave Posts: 3,711 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    I wish somebody had given me £104K off the purchase price of my house. I would not be complaining it was "sinister".
  • TheGardener
    TheGardener Posts: 3,303 Forumite
    Name Dropper First Anniversary First Post
    Politics about 'right to buy' aside - the 'tax payer' does not fund council housing. It is wholly funded thought tenants rents unless the tenant in question is in receipt of HB - in which case they are unlikely to get a mortgage.
  • stator
    stator Posts: 7,441 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    They probably removed the estimate because it was inaccurate.
    It won't affect the purchase price
    Changing the world, one sarcastic comment at a time.
  • martinsurrey
    martinsurrey Posts: 3,368 Forumite
    TheGardener wrote: »
    Politics about 'right to buy' aside - the 'tax payer' does not fund council housing. It is wholly funded thought tenants rents unless the tenant in question is in receipt of HB - in which case they are unlikely to get a mortgage.

    I guess we could get into a debate on what "funded" means.

    If the rent is any less than market rent, then the tax payer is subsidising the rent, and that subsidy is made up elsewhere through taxation and or reduced services.
This discussion has been closed.
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