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15 ways in which I am paying for a house for everyone except me
brit1234
Posts: 5,385 Forumite
:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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Well that's 2 minutes that I'll never get back.
What a steaming pile of rubbish....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Don't forget Local Councils are acting as guarantors for FTB mortgages for 5yrs. Is it really what Local Councils should be doing with taxpayers money?.Just sums up the mess IMO.
"The Council is guaranteeing the bank/mortgage lender the difference between the 95% and 75% of the mortgage for an initial period of 5 years"
http://www.hastings.gov.uk/decisions_democracy/press_media/press_news/news/mortgage_scheme/0 -
HAMISH_MCTAVISH wrote: »Well that's 2 minutes that I'll never get back.
What a steaming pile of rubbish....
Can I recommend the ignore function? It works really well!0 -
leveller2911 wrote: »Don't forget Local Councils are acting as guarantors for FTB mortgages for 5yrs. Is it really what Local Councils should be doing with taxpayers money?.
What an excellent idea.
Good to finally see councils doing something worthwhile.Just sums up the mess IMO.
Well it certainly sums up what a mess the government has made in failing to fix the dysfunctional mortgage market.
It's outrageous that councils should have to do that, but as long as the mortgage market remains broken, it's a jolly good thing they are at least helping in a small way.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »What an excellent idea.
Good to finally see councils doing something worthwhile.
Well it certainly sums up what a mess the government has made in failing to fix the dysfunctional mortgage market.
It's outrageous that councils should have to do that, but as long as the mortgage market remains broken, it's a jolly good thing they are at least helping in a small way.
Choosing to risk taxpayers money to prop up the local housing market is a "Jolly good idea"......
Could it just be that house prices in the area are unaffordable? Average earnings in the Rother District are £17,945-00 pa average houseprice is £162,422 and around £160k for a small terraced house thats 9x average earnings .....
When was the last time Local Councils stood as guarantors for mortgages Hamish?.
Its the same old same old from you "its all down to banks refusing to lend 95%,100%,125%, 200% mortgages". Affordability eh?
http://www.hastingsobserver.co.uk/news/local-news/48-council-staff-on-double-the-average-hastings-wage-1-2757403
http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/21ud.stm0 -
HAMISH_MCTAVISH wrote: »It's outrageous that councils should have to do that, but as long as the mortgage market remains broken, it's a jolly good thing they are at least helping in a small way.
The way to encourage the banks to lend more is to raise interest rates so more people save and they have more money to lend. With out additional funds the banks can only lend to the safest borrowers.
Anyway as prices fall the banks pot of money will be able to lend to more people.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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Just a tick, i think there's an old violin somewhere in the loft.0
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Unfortunately the whole thing is so topsy turvey its hard for either side to anticipate what would result if conducting normal business.
Theres no doubt when you right anything thats been upside down, its an absolute mess
I cant see that council scheme is so bad, it seems very limited. In theory the council receives taxes back from those householders and they have some reason to encourage greater house occupation.
If they dont spend money on that, they'll be doing council housing so which do you prefer.0 -
Just a tick, i think there's an old violin somewhere in the loft.
Well done you for that well thought out post. I can see you have an in depth knowledge of the subject........ I've a mind to press the thanks button out of sympathy....... Be sure to post another thought provoking opinion.0 -
Remember Kids - Don't do drugs!0
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