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Help to Buy is nothing but an election ploy....
Comments
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Graham_Devon wrote: »I know, but that wasn't your point.
Your point was specifically that people couldn't borrow more. You've switched it now to more people borrowing.
The point of the scheme is exactly that, it's designed to let them borrow more.
Hence the guarentee from the government!
To be clear what I am saying is they can only borrow now what they could borrow if they had a 20%. Fair enough they would not have been able to borrow if they didn't have 20% although Percy tells me it wasn't hard to get a 90% mortgage.0 -
True but there are strict affordability rules in place.
I am sure there are but rules tend to get bent when it suits and desperate people do desperate things."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 -
grizzly1911 wrote: »I am sure there are but rules tend to get bent when it suits and desperate people do desperate things.
If the rules were so easy to bend we wouldn't be talking about how difficult it is to get a 95% mortgage.0 -
If the rules were so easy to bend we wouldn't be talking about how difficult it is to get a 95% mortgage.
Depends how desperately you want the guarantee.
I am sure they will all be squeaky clean so won't be an issue."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 -
grizzly1911 wrote: »Depends how desperately you want the guarantee.
I am sure they will all be squeaky clean so won't be an issue.
Say I was really desperate but less than squeaky clean how would I go about getting a HTB loan for which I didn't qualify? Then just how many do you think are going to these lengths?
Times have changed. The rules are stricter and more rigorously enforced. As a result the lending of the last few years have probably been the safest for decades.0 -
The whole point of the new capital rules are so that the kind of reckless lending that caused 2008 can never happen again. Reducing risk for the banks, reducing risk for the tax payer and also reducing the risk of default for the purchaser.
Help to buy increases the risk for all involved
Drivel.
It wasn't UK lending standards, UK house prices, or UK mortgage defaults that caused the banking crisis in 2008.
And as UK lending wasn't the problem, then restricting UK lending cannot be the cure.“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 -
Say I was really desperate but less than squeaky clean how would I go about getting a HTB loan for which I didn't qualify? Then just how many do you think are going to these lengths?
Times have changed. The rules are stricter and more rigorously enforced. As a result the lending of the last few years have probably been the safest for decades.
If 10% is out of your reach but 5% can be "scraped together" it is worthwhile scraping.
Time will tell."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 -
For one who was so desperate for a Conservative election victory you don't seem to happy with your election vote choice.Graham_Devon wrote: »Just (yet another) article slamming help to buy.
I post this one as I simply agree with everything within it, if applied to HTB2.
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/10471564/Help-to-Buy-is-nothing-but-an-election-ploy.html
To others though, it will of course be just yet another bit of nonsense not worthy of even being used as tomorrows toilet paper.
There is, I'm sure, an opposite article from a building company or a government spin doctor stating HTB is great.
You voted for them, so stop complaining.0 -
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And so you just carry on...
Have fun chuckles.0
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