What's the verdict for home owners after today's budget

floridaman

Yay or nay

padington

Very fiscally responsible, creating a strong long term safe haven environment however tempered with cuts to significant BTL tax benefits and inevitable housing benefit cuts which will hobble price rises in the short term.

Short term nay, long term yay - from glimpsing at the metro in a packed tube.

Thrugelmir

Early days. This budget was policy driven. Though the general direction is clear. Where's the detail? This framework is going to built on over the next few years.

Gavin234

Some of the props holding up overvalued property prices are slowly being taken out.

They are praying gravity will not do its thing.

TickersPlaysPop

The budget has nothing for the housing market. Election was all about building 200000 per yr, etc etc etc.... now nothing.

Houses should be for homes not profit

PixelPound

Not sure it will effect home owners much. Removal of HB for the young and the benefit cap may effect some BTL LL who buy cheap houses and to then rent out to those on benefit. Could just mean they endup letting to those on £30k who find their social housing isn't as cheap.

hpifever

Paddy wants prices to escalate upwards and out control so that it helps his elite HPI pals and screw everyone else that will struggle to buy property.

lonestar1

contents and building Insurance will be up 3% thanks to IPT increase

ruggedtoast

This is another budget for boomers, and bankers.

The young are shafted. The working poor are lashed to the wheel.

At some point the nation 's patience will expire.

The tax penalties for btl scroungers was the only positive.

The nation is missing the other Lib Dems.

thequant

This Budget is going to cause an explosion in house prices.


With a min wage of £9 an hour, any person who has a Mcdegree from McUni, in an McSubject, With McClassification doing a McJob such as working in Starbucks is now guaranteed an wage of £18k a year.


For a couple at X5 Mortgage lending, this equates to a £180k Mortgage.


No matter where you are, there is no excuse that you can't buy a place. If you are in the North East you can now get a decent 3/4 bed detached house in a nice area for working in Poundland.


At the other extreme, you can get a small 1 bed flat In Londons outer regions.

vivatifosi

I've now read all of it and think that there's v little in it for home owners. There's something for FTBs, the bit about insurance premiums, plus of course the changes in BTL.

Other than that, the budget is a lot about social engineering, so it depends more on things like whether people who currently get in work benefits will be able to afford once changes come in, or conversely whether low income couples on the new min wage who don't qualify for bens will be able to afford something if they earn a bit more.