Help to buy now advertised nationally on TV

Thrugelmir

Graham_Devon wrote: »

My point is that it shouldn't be for the government to advertise and hope to sell, their policies on prime time TV at our expense. This isn't some kind of back end sky channel, it's ITV at prime time.

If you understand the workings of the scheme. Then you'll realise that it's likely to be highly profitable for the Government and therefore the taxpayer.

In fact one idea is to sell the portfolio onto an insurer once it's established.

Nor was it cheap to create the scheme either. Something that the National Audit Office will report on at a later date.

maddermanblue1_2

Hi,

I think I have the same minds as some on here, I hope Help to Buy 2 scheme dies.
On my own, I am saving up a deposit for a place of my own I could call home, I believe I am doing well in doing so, hoping for 65% LTV in a couple of years. I believe I am earning low-mid income, around 20k PA in London no less (I won't buy in London, more likely in the southwest, Somerset way). However the Help to Buy scheme is diluting the value of my growing deposit.
Why?
Because the H2B scheme will push up house prices up even further, furthermore (this bit I hate) I have been saving for years, yet H2B comes along enables people to buy with little deposit with MY taxpayers money. Unfortunately I feel the savers are being punished, being squeezed out of existence in favour of the great Ponzi scheme.


The government really really need to use the H2B money to build many more homes than currently forecasted all across the UK.

CLAPTON

maddermanblue1 wrote: »

Hi,

I think I have the same minds as some on here, I hope Help to Buy 2 scheme dies.
On my own, I am saving up a deposit for a place of my own I could call home, I believe I am doing well in doing so, hoping for 65% LTV in a couple of years. I believe I am earning low-mid income, around 20k PA in London no less (I won't buy in London, more likely in the southwest, Somerset way). However the Help to Buy scheme is diluting the value of my growing deposit.
Why?
Because the H2B scheme will push up house prices up even further, furthermore (this bit I hate) I have been saving for years, yet H2B comes along enables people to buy with little deposit with MY taxpayers money. Unfortunately I feel the savers are being punished, being squeezed out of existence in favour of the great Ponzi scheme.


The government really really need to use the H2B money to build many more homes than currently forecasted all across the UK.

why don't you use the HTB scheme yourself and buy now?

Thrugelmir

maddermanblue1 wrote: »

Hi,

I think I have the same minds as some on here, I hope Help to Buy 2 scheme dies.

Then you need to hope that lenders are willing to continue to lend (at a similar level) without the "insurance" that's been put in place.

maddermanblue1_2

CLAPTON wrote: »

why don't you use the HTB scheme yourself and buy now?

I will never use it in principle, I believe it is wrong to introduce such a scheme. According to the H2B website because you still have to pay the H2B loan off (as it says Loan) , it is interest free for 5 years, then what? What will be the interest rate? Paying interest off the mortgage loan and the H2B scheme will put me in serious pooh pooh financially, and even more pooh pooh when the interest rates rise. The government backed help to buy scheme websites fails to mention the rates and what happens after 5 years, why? Who knows - something's up with it and the lack of info makes me suspicious.


I have worked out and calculated a worst possible to moderate to good scenarios and it all turned out that I will be in deep deep doo doo. Its unbelievable that people don't think these through.

maddermanblue1_2

Or maybe I don't quite understand the H2B scheme.....

CLAPTON

maddermanblue1 wrote: »

I will never use it in principle, I believe it is wrong to introduce such a scheme. According to the H2B website because you still have to pay the H2B loan off (as it says Loan) , it is interest free for 5 years, then what? What will be the interest rate? Paying interest off the mortgage loan and the H2B scheme will put me in serious pooh pooh financially, and even more pooh pooh when the interest rates rise. The government backed help to buy scheme websites fails to mention the rates and what happens after 5 years, why? Who knows - something's up with it and the lack of info makes me suspicious.


I have worked out and calculated a worst possible to moderate to good scenarios and it all turned out that I will be in deep deep doo doo. Its unbelievable that people don't think these through.

The details after 5 years are clearly laid out

there is no actual interest but you pay a 1.5% pa fee (the fee increases each years above inflation)
This is extremely cheap and you won't get anything cheaper.

Turnbull2000

The sentiment generated by this scheme alone must be worth 10% HPI over the next 18 months. People are panicking, and the local media are increasingly peddling 'articles' featuring local EAs urging people to buy now before prices march upwards again.

maddermanblue1_2

CLAPTON wrote: »

The details after 5 years are clearly laid out

there is no actual interest but you pay a 1.5% pa fee (the fee increases each years above inflation)
This is extremely cheap and you won't get anything cheaper.

Where? I can't see it....

maddermanblue1_2

Don't worry, found it, followed the PDF link on the website. It's no good to me anyhow, I cannot rent a room out to a lodger if I get a place with more than 2 bedrooms, (if needed) it would be illegal apparently.

Regards.