Help to buy ISA worthless as all houses in this area are more than 250000

thequant

Melbryce11 wrote: »

Wow that escalated quickly. I'm done with this thread- what a horrible forum, seems I need to go and tell my children they were a mistake as I needed to buy a house first, but only one too small for them to fit in...
Write what you like- I'm not coming back on here.
Have fun!

Well you are knocking out a load of kids and then expecting the tax payer to pay the bill via HTB ISA scheme.

If the cap fits.............

thequant

rtho782 wrote: »

Everyone seems against help for us FTBs, but without us your house prices collapse. BTL is not going to take up the slack with tax changes and SDLT changes.

If you cant afford to buy my house, then you are not keeping up the value of my place.

mrginge

rtho782 wrote: »

It should have been something like "Avg house price in the local area +20%" as the cap or something.

Yes, what we need is a highly complex scheme that is difficult and costly to manage, open to abuse, and gives no guarantees about the benefit to anyone using it.

Everyone seems against help for us FTBs, but without us your house prices collapse. BTL is not going to take up the slack with tax changes and SDLT changes.

so what you are saying is that you are unhappy because house prices are too high but as a first time buyer you are more than happy to contribute to them staying high.

bobobski

thequant wrote: »

Well you are knocking out a load of kids and then expecting the tax payer to pay the bill via HTB ISA scheme.

If the cap fits.............

Not cool dude...

Edit: Just looked at your post history. You've asked for help in how to cut tax as a high earner and you mentioned a £100k+ salary more than 2 years ago. I don't think you're particularly well qualified to judge the OP and their situation.

Also, what is it with people saying that those who are considering making the most of a scheme that applies to them are "expecting" anything? There is a vast difference between the two positions. Where no scheme is available and somebody is complaining about it, then perhaps that's "expecting the tax payer to pay the bill"; a parallel would be to say that somebody investing on AIM because they don't have to pay CGT on their investments is "expecting the tax payer to foot the bill" by not having to pay tax, which is obviously a ridiculous position to take. This seems to be the new version of bashing on people who receive benefits, which - according to your post history - you shouldn't be doing. No judgement at all, just pointing out the hypocrisy.

southoftheriver

Running_Horse wrote: »

I couldn't afford to buy in London, so moved away. I couldn't afford to buy near my new work, so moved ten miles away and got the train. It wasn't perfect and not my first choice, but it worked.

Cambridge and London are two of the most expensive property hotspots in the entire country. It's not surprising that people who choose to work there also struggle to buy a property. Bar Hill or Arbury wouldn't be my first choice to live, but it's not exactly the Bronx.

I'm opposed to every form of government house buying scheme and shared ownership, most of which seem to support the very high prices they are designed to help overcome.

Agree with your first point, having grown up in London we are now priced out and it sucks but that's life. However I have family in the Bronx, it's a huge area with varying houses just like any other area! And I'd happily walk around lots of it at night without issue

MuTron

Cambridge is a difficult one, though, with parking difficult and expensive in the centre of town, notoriously bad traffic issues, and public transport, whilst being fine within the city, is quite difficult as soon as you go outside of it. My 11 mile commute from the north side of the city to a business park outside to the south takes about 45 minutes, and that's going against most of the traffic going in.


That said, there are still properties within Cambridge going for just under the £250k mark, and although they're in Arbury, Kings Hedges and Abbey, none of these areas are anything like historical snobbery would suggest. There's streets I would avoid, but not whole wards in the city, and all 3 are rapidly filling up with professionals in their 20s and 30s as they're the last 3 areas within the city affordable to first time buyers. How bad can an area be if you can only afford to buy there if your household income is £60k+?

greensalad

Yep, I looked into it but round my way a pokey 1 bed flat is all you can get under £250k. Two bed terraced is more like £300-£350k

Plus you can only save £200 a month to get the full benefit. And you can't have another ISA at the same time. Pointless.