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Renting out RTB home
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That was the main problem and pointed out in the 80s when first introduced. So 30 years of depleting the stock.leveller2911 wrote: »I don't have a problem selling off the older housing stock for full market value because in many instances they need £10,000s to modernise them with new roofs,kitchens,bathrooms,heating,windows,doors etc so. The problem with RTB was always the discounts and also the fact that local authorities weren't allowed to use the proceeds to build new Social housing.
Many tenants couldn't afford to buy a house on the openmarket and rely on the discount to make it affordable.I'm not defending the scheme but the reality is if there wasn't a RTB scehem the housing shortage wouldn't be any less and as I say in the older properties it would cost £10,000s to modernise them, money that could be used to build more homes.
Is the RTB scheme much worse than the HTB schemes where the taxpayer stumps up interest free loans for 5yrs or so and then a very low interest rate after that?. Bear in mind that govt HTB schemes have helped keep house prices inflated which in turn has kept them unafordable for millions of families.
Its a vicious circle and a very bad pyramid scheme imo.0
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