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Tories to raise right-to-buy windfall to £100,000
Turnbull2000
Posts: 1,807 Forumite
http://www.standard.co.uk/news/politics/budget-2013-100000-off-righttobuy-a-london-home-8540690.html
Only in London though.,,
Only in London though.,,
Thousands of Londoners will get a chance to own their homes under a major extension of the Right-to-Buy in tomorrow’s Budget, the Evening Standard reveals today.
George Osborne will raise to £100,000 the maximum discount for tenants in London who want to take ownership of their home.
One council leader said it could “unleash a new generation of home-ownership in the capital”. The rise, from £75,000, reflects the higher cost of London property compared with other regions.
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Comments
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Maybe a good solution for right to buy would be for the buyers to be obliged to pay back 90% of their discount (if they make a profit of course) if they sell it within 15 years or so. And also there should be a restrictive covenant on them that they cannot be used for BTL.0
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shortchanged wrote: »Maybe a good solution for right to buy would be for the buyers to be obliged to pay back 90% of their discount (if they make a profit of course) if they sell it within 15 years or so. And also there should be a restrictive covenant on them that they cannot be used for BTL.
It would be better not gto do it in the first place
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Just another desperate attempt to sell off more assets at undervalue.
Isn't that an act of bankruptcy when in debt?
Trying to top up the coffers at the expense of a few desperate souls.
Desperate attempt to buy votes again."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 -
It would be better not gto do it in the first place
Well yes, particularly the way it has been done, i.e by not replacing the stock sold off on the cheap.0 -
Is it a bribe to Bob Crowe?!
Some places in inner London Council rents may be 2k / month less than private rents so payng a one off 100k to get out of providing such a subsidy for ever may be a good deal?I think....0 -
Is it a bribe to Bob Crowe?!
Some places in inner London Council rents may be 2k / month less than private rents so payng a one off 100k to get out of providing such a subsidy for ever may be a good deal?
It is only a subsidy against yields necessary to acquire a property at today's value.
If you acquired the asset at a much lower value, you may be receiving an acceptable yield even now. aIn addition it doesn't need to be topped up by excess HB, thus a net saving to the government."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 -
Proving the tories are there fighting to enable the little man a leg up, whilst the socialists want to keep in thier place dependant on the welfare nipple.0
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What a stupid idea.
If councils/ housing associations sell property, it should be at market value. If they want to give people £100k then why not print money from the magic money tree and give £100k to each and every household?
Another nonsense idea to make people rich quick rather than get the economy moving.0 -
Proving the tories are there fighting to enable the little man a leg up, whilst the socialists want to keep in thier place dependant on the welfare nipple.
There again Camerons answer to the bedroom tax...well theres 1.8m on the council housing waiting list....so what do they do ...sell even more of them on the cheap.0 -
What a stupid idea.
If councils/ housing associations sell property, it should be at market value. If they want to give people £100k then why not print money from the magic money tree and give £100k to each and every household?
Another nonsense idea to make people rich quick rather than get the economy moving.
This appears to be quite a rare occasion - but on this point I agree with you :eek:!
My parents bought their council house in the 1970s. At that time there were 4 of us living in it. Now, that 5 apartment house is occupied only by my brother. The effect was that the council lost a property large enough for a large family and got less money than it would have cost to replace it.
From a personal family point of view it was fine as my parents paid no rent for decades therefore had more money to spend on the family. However, "the country" lost out. How will the situation in London be any different?
On another relatively minor point, it seems that "tasters" from tomorrow's budget are being released to the media in the days leading up to the budget announcement. Time for another rant from the Speaker about disrespecting Parliament?
WR0
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