Deposit Help, shemes or advice

justinquick

does anybody know of schemes that help with the deposit for a house. either part of the deposit or the whole thing in the london area

thanks

brit1234

The government Homebuy scheme ends this month but some builders have an equivalent. There is also shared ownership schemes.

Personally I think these schemes are a con and my views are well known here.

You are better off saving a deposit now, especially as house prices are falling again. To use one of these scheme could leave you in serious negative equity very quickly, made worse by this type of property being very overvalued.

The longer you save the more prices fall. That has to be a big win, win.

nollag2006

brit1234 wrote: »

The government Homebuy scheme ends this month but some builders have an equivalent. There is also shared ownership schemes.

Personally I think these schemes are a con and my views are well known here.

You are better off saving a deposit now, especially as house prices are falling again. To use one of these scheme could leave you in serious negative equity very quickly, made worse by this type of property being very overvalued.

The longer you save the more prices fall. That has to be a big win, win.

Hmmm... your record on house price prediction isn't too strong brit. Weren't you amongst the nutters on the Debate House prices board that was screaming for a 70% fall by Christmas 2009?

How did that piece of genius forecasting work out for you?

As for house prices falling - not around your way they are not. House prices in Hounslow borough are actually accelerating rapidly in the past three months.

Have a look at Page 9 of the June 30th Nationwide report:
http://www.nationwide.co.uk/hpi/historical/Q2_2010.pdf

nollag2006

justinquick wrote: »

does anybody know of schemes that help with the deposit for a house. either part of the deposit or the whole thing in the london area

thanks

Does this help:
http://www.direct.gov.uk/en/HomeAndCommunity/SocialHousingAndCareHomes/HousingAssociations/DG_10020860

brit1234

nollag2006 wrote: »

Hmmm... your record on house price prediction isn't too strong brit. Weren't you amongst the nutters on the Debate House prices board that was screaming for a 70% fall by Christmas 2009?

How did that piece of genius forecasting work out for you?

As for house prices falling - not around your way they are not. House prices in Hounslow borough are actually accelerating rapidly in the past three months.

Have a look at Page 9 of the June 30th Nationwide report:
http://www.nationwide.co.uk/hpi/historical/Q2_2010.pdf

Its pretty good actually, got the timing of the first part of the crash right despite overwhelming opposition saying their wouldn't be and prices would keep going up.

As for the crash pause due to the massive stimulus, well that wasn't expected but all that did was delay the crash a little bit longer.:sad:

As for the second leg of the crash I also predicted the timing right.

As for my area, the asking prices at the properties I am looking at is falling which is a good thing, a couple more 2 beds falling to my range each week. As the crash fans out expect London prices to be clearly negative in a couple of months but that is just the ripple effect and takes time. Especially when it has to counter the effects off foreign buyers in central London at in the first half of the year.

Here are the National figures all showing a downward trend even Nationwide which will go negative next or the following month.


Nationwide
Mar + 1.0%
Apr + 1.1%
May + 0.5%
Jun + 0.1%
http://www.nationwide.co.uk/hpi/historical/jun_2010.pdf

Halifax
Mar + 1.0%
Apr - 0.1%
May - 0.4%
Jun -0.6%

http://www.lloydsbankinggroup.com/me...dexMay2010.pdf

Land Registry
Mar - 0.3%
Apr +0.2%
May - 0.2%

Acadametrics
Mar - 0.5%
Apr - 0.7%
May - 0.2%
Jun -0.5%
http://www.acadametrics.co.uk/acadHousePrices.php

Nollag I don't know why you are trying to to deceive/confuse the original poster what is happening. Buying a house is the most expensive thing you are likely to buy. This site is called money saving expert after all.

Buying with one of these schemes of an overvalued property at this time is likely to lose you money. House prices are clearly on a path down (see figures above) despite it being peak market. What will it be like in the weaker months? Now is best to save a deposit to make the most of it.

brit1234

nollag2006 wrote: »

Does this help:
http://www.direct.gov.uk/en/HomeAndCommunity/SocialHousingAndCareHomes/HousingAssociations/DG_10020860

Old page Homebuy is gone, shared ownership funds also being massively cut.