We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Help to Buy Part 2 - OPENING WITHIN DAYS
Turnbull2000
Posts: 1,807 Forumite
Very big news. David Cameron has announced that Help to Buy for all properties up to £600,000 is to be brought forward immediately, to 'help hard-working, aspiring young families get onto the property ladder.'
Peculiar timing. Can only guess that this is purely politically driven. Still, should go down very well with voters - especially the younger ones.
Peculiar timing. Can only guess that this is purely politically driven. Still, should go down very well with voters - especially the younger ones.
Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
0
Comments
-
I kind of wish he hadn't! Me and my boyfriend was hoping to get a house before the help to buy came into effect so the prices went up (if that was to happen!)0
-
GalaxyStar wrote: »I kind of wish he hadn't! Me and my boyfriend was hoping to get a house before the help to buy came into effect so the prices went up (if that was to happen!)
I wouldn't panic just yet. The resulting price gains probably won't gather any real momentum until next Spring.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Turnbull2000 wrote: »I wouldn't panic just yet. The resulting price gains probably won't gather any real momentum until next Spring.
We're looking at a house now and have put offers in but been turned down, and were thinking of putting another in, the help to buy thing next week won't push up its price then? Until next year maybe?0 -
I find this hard to believe since last I heard (in the past couple of days) the government were to get further opinions about whether it would create another bubble.
Also, what kind of young voters want house prices to rise in an incredibly speedy fashion, causing said housing bubble and a potential recession much worse than this one?
Those that are buying new builds have already got themselves something for a price well above what they'll be able to sell it on for, and are therefore in negative equity, help to buy or not.
As a young voter and aspiring home owner I find this scheme to be highly counter-productive.0 -
Those that are buying new builds have already got themselves something for a price well above what they'll be able to sell it on for, and are therefore in negative equity, help to buy or not.
Says who??? An opinion not fact. Not everyone who buys a new build goes into negative equity. Maybe an increased risk but not everyone.
So if I build my own house which in effect is a new build, mortgage it, I'll be in negative equity? Right ok then.An opinion is just that..... An opinion0 -
Help To Buy - Mortgage Guarantee will not have an equity loan component like the current scheme.
It will increase the amount of 95% lending, but with no equity loan and rates around 4.5%, possibly more, and the lender passing on some of the cost of the Government guarantee, this may not be the thing a lot of people seem to think it will be...I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Turnbull2000 wrote: »Very big news. David Cameron has announced that Help to Buy for all properties up to £600,000 is to be brought forward immediately, to 'help hard-working, aspiring young families get onto the property ladder.'
Peculiar timing. Can only guess that this is purely politically driven. Still, should go down very well with voters - especially the younger ones.
I take it you're not young? Because if you was you would know that most young people are against it. This is a vote winner for older people who already own houses they are getting their prices pushed up with taxpayers money.0 -
Well that's annoying- January would have been perfect for us!
Am I missing something though with the boom, because I don't really see how it would create one....
The mortgage providers are not lending any more money. If they would lend you say up to 380 with a 10% deposit they are still only going to lend 380 with a 5% deposit.
And the prices of places in London are too high that those with an national average wage can't afford to buy anyway!
I just don't see how it can increase prices, as it's not increasing the money available. If you couldn't afford it before, you are unlikely to be able to afford it now, all that it is doing is allowing people to buy sooner (which I am grateful for), as they don't have to save 10%, only 5%.
Is it that more people will be buying places? But then if the prices get to high the mortgage providers will not lend that much, so it will all stop again??:T0 -
Why on earth should someone be helped in this way to buy a 600k house ?!Never, under any circumstances, take a sleeping pill and a laxative on the same night.0
-
I'm saving a deposit, was thinking of March to think of buying, but should I consider Help to buy?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards