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Help to Buy may have to be scrapped, Vince Cable warns
Comments
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I'm genuinely interested in Graham's personal approach to Help To Buy.
He's clearly someone that wants to buy a house and has already acknowledged that house prices are likely to rise and therefore won't be coming to meet his budget anytime soon.
Some people said at the time that prices were already going up and that the early adopters of Help To Buy would do quite well. A 20% interest free loan and an environment of HPI both keeps down mortgage costs and protects against negative equity. Graham's been fixated by Help To Buy since George Osborne sat down at the budget - I thought the scheme might suit him.
He can't have dismissed Help To Buy on principle can he? Who wouldn't, in the same position, have been around a few building sites and got some quotes and costings together.
I know he thinks I'm taking the p**s but some 'inside' experience would be valuable.
It's not wall to wall anti HTB in the media either. Spotted this on the FT (behind a paywall) but effectively a call for HTB to be made permanent as the economy is at a stage in the recovery where, with more stimulus, could react quickly on the supply side.
The argument was being made by.....
Not sure I agree that it should be permanent but must be music to the ears of George Osborne.
http://www.ft.com/cms/s/0/2ce0021a-171c-11e3-9ec2-00144feabdc0.html#axzz2fdZAwFCv
I dunno why you keep banging the same drum to be honest. I've been upfront and honest when you have been tapping this drum before stating I wasn't in a position to buy at the moment, especially a 200k new build box.
So why you ignore what I have said and keep going on about not understanding why I don't jump in is beyond me....other than assuming you just want to keep having a pop regardless.
You go on and on about how this would help me, as if from a position of knowledge on what I want and my finances, but you don't have any idea whether I have 100k of debt, 100k in savings, or anything inbetween.
As I say, you don't have a clue, so how you can assume what's good or not for me is frankly absurd, and comes from the desire simply to have a go about literally everything.0 -
They are life choices not affordability issues.Graham_Devon wrote: »I wasn't in a position to buy at the moment, especially a 200k new build box.
People should learn to cut their cloth accordingly.0 -
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Graham_Devon wrote: »As I say, you don't have a clue, so how you can assume what's good or not for me is frankly absurd, and comes from the desire simply to have a go about literally everything.
I thought the scheme might be suitable that's all. I assumed nothing which is why I asked what your personal perspective was.
I did look at new builds in Devon - you don't need £200k. £175k would buy a detached in some areas and most are up for much less. You have quite a downer on new builds but I'm not sure why. The new build premium you go on about can include some worthwhile stuff such as NHBC warranty and you'll be maintenance free for years.0 -
Graham_Devon wrote: »How is it a life choice?
Think of all the crap you've wasted money on - does it add up to a deposit?
You'd be unusual if your answer was no.0 -
The new build premium you go on about can include some worthwhile stuff such as NHBC warranty and you'll be maintenance free for years.
If they built them properly in the first place the warranty wouldn't be needed. Whilst there is decrepit old stuff there is a lot in the middle that is in pretty good condition. Something tells me many new condensing boilers will be on their last legs long before some of the slightly older ones.
Against maintenance you will be have other costs, fencing, landscaping, painting within 2 years as the original tat falls off. Filling in the settlement cracks and decorating over the magnolia. Floor coverings throughout from scratch etc.
Not to mention finding a fixing that will actually hold in any walls."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 -
Think of all the crap you've wasted money on - does it add up to a deposit?
You'd be unusual if your answer was no.
Course I waste money.
I'm drinking coffee now instead of water. Is that the next scandal? I've not even suggested I want a new build. Yet you are talking as if I have.
What do you want from me exactly? You appear to be trying to "teach" me something. I'm just not sure what.0 -
Graham_Devon wrote: »What do you want from me exactly? You appear to be trying to "teach" me something. I'm just not sure what.
You asked what life choices had to do with buying a house. I told you.
If the biggest waste of money you can think of is the difference between water and coffee you've lived a more frugal life than I thought.0 -
grizzly1911 wrote: »If they built them properly in the first place the warranty wouldn't be needed. Whilst there is decrepit old stuff there is a lot in the middle that is in pretty good condition. Something tells me many new condensing boilers will be on their last legs long before some of the slightly older ones.
Against maintenance you will be have other costs, fencing, landscaping, painting within 2 years as the original tat falls off. Filling in the settlement cracks and decorating over the magnolia. Floor coverings throughout from scratch etc.
Not to mention finding a fixing that will actually hold in any walls.
Is there anything in life that meets with your satisfaction?
I've only ever bought new builds. Must have been really lucky because I've spent a few hundred quid in maintenance in a couple of decades.0 -
The new build premium you go on about can include some worthwhile stuff such
as NHBC warranty and you'll be maintenance free for years.[/QUOTE]
Not really interested in the thread but I do have a view on the NHBC warranty and that is its a complete waste of money.
The NHBC warranty scheme inspectors are funded (employed)by the housebuilders so they have a massive conflict of interest.Its not in their interest to find in favour of the homeowner and if your interested you can do a search on the DIY section and find lots of very unhappy customers.
The NHBC warranty will only cover structural faults so the vast majority of the claims for shoddy workmanship are thrown out.I've even seem with my own eyes old cars being left in situ when the foundations were poured, NHBC inspectors failing to turn up to inspect structural work so they just tick the box on the form saying its been inspected.0
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