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Taxpayer to take on mortgage risks of first-time buyers
Comments
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If the intention is to buy at some point your statement re money in the bank is irrelevant as it will have to go down as a deposit at some point.
The reason most people want to take on the huge financial commitment of a mortgage is that over a lifetime paying that mortgage is usually substantially cheaper than renting. Certainly at the cheaper end of the market.
With current government policies it seems we are going to see ultra low interest rates for years. This is required to bring the banks balance sheets back into reality. To get the full benefits of owning a property the earlier you buy and pay off the mortgage the better you are. Therefore if people have the deposit then they will buy.
Don't dispute you reasons for why people want to buy rather than rent.
The way I read shortchanged was that over committing yourself leaves you nothing to actually live your life with."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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