Help to buy SCAM....

urgi

1 Euro equals
0.90 Pound sterling

FTBAngst

I’m not sure I understand why you think it’s a scam. Were the risks associated with an increase in house price not fully explained to you? Why did you use HTB if, as you’ve pointed out now, it was potentially cheaper to get a loan from Tesco? If someone buys a house for £x and then a few years later it sells for 5% less than that, would you consider that a scam?

Do you think it’s a scam because the valuation is high so the governments and the RICS valuator must have been colluding and set the plan in motion five years ago?

csgohan4

OP thinks it's a conspiracy, better put our tin foil hats on.

grumiofoundation

urgi wrote: »

1 Euro equals
0.90 Pound sterling

Out of interest if you exchanged €50000 today and got £45000 and next month 1 Euro = £1 would you class that as a government SCAM?

westernpromise

urgi wrote: »

Purchased price 2014 £200000 - after 5 year each year price increase 5% max = 2019 £250000

20%of £250K = £50K max return to H2B in the worst dream

but 280K never assumed

The figures imply ~7% inflation (200,000 * 1.07^5 = 280,500). So you've made that on 80% of the house, the government's made it on the other 20%, and it's time to give them their piece back.

If the house had gone down by 40% to £160k would you then be arguing that they should get just their 40k back with all the loss belonging to you?

BikingBud

Chandler85 wrote: »

Look you got help buying house from the government, basically to stop you having to rent.


They basically bought 20% of your house, so you now have a nice place to live.


House buying at the moment is so heavily supported by the government through H2B, LISA, FTB stamp duty release. None of those existed when most people bought houses.


It isn't a scam, its a way to buy a house. You basically bought 80% of a house, not 100%

How about looking at the other way?

You unnecessarily paid £100K for a house that should only sell for £80k. That's a 25% mark up and we can see where that has all gone can't we?
- Persimmon, Britain's largest housebuilding firm, posted profits of £1.1bn for 2018.

The Guardian

Help-to-buy scheme pushes housebuilder dividends to £2.3bn

Barratt

Barratt's revenue rose to £2.1billion, its pre-tax profit for the six months to 31 December surged by 19.1 per cent to £408million.

Why do we think it is great to pay more than we should?

It's like the Emporer's new clothes and should be anathema on this site.

BikingBud

diggingdude wrote: »

Perhaps you could sell the house, deduct what you initially paid and then hand over all profit to the tax payer as a thank you?

Now that would be a good scheme for MPs that have "bought" houses at taxpayers expense:idea:

grumiofoundation

BikingBud wrote: »

How about looking at the other way?

You unnecessarily paid £100K for a house that should only sell for £80k. That's a 25% mark up and we can see where that has all gone can't we?
- Persimmon, Britain's largest housebuilding firm, posted profits of £1.1bn for 2018.

The Guardian


Barratt

Why do we think it is great to pay more than we should?

It's like the Emporer's new clothes and should be anathema on this site.

I don’t think anyone on this thread is actually suggesting that you SHOULD use help to buy but saying if you do you can’t then turn around and complain about the terms that are made clear at the outset.

Although I do agree with a lot of the points you have made, in this case although the OP may have overpaid to buy they now have made a 64k profit as a result of using help to buy (although this profit appears to be their biggest issue with it...)

jimmyjammy001

No sympathy here I'm afraid for anyone who has used the help to buy scam, should of read what you were signing upto, reason house prices have gone up so much are a direct result of the help to buy saga

Goldust

urgi wrote: »

Simple
I want return H2B but same amount or less what they borrowed to me

and next year possibly sell house for £500K

I would like thx all for opinionon and I closing pool

Surely this fella is trolling... why would you moan about a 20% increase in house value over 5 years then expect it to be all cleared up for a further 100% increase in value within the next 12 months? On what planet is that reasonable or realistic?