Government announces sweeping homeownership reforms

Woolsery

RyanHello said:

The same government who stood on a manifesto of:

• 40 new hospitals - Not happened.
• 300,000 new homes built - Not happened.
• No increase in taxes - Taxes have increased.

I pity the fools who keep voting for them

It makes no difference who one votes for nowadays. Policy is decided in Davos, not Westminster. Ultimately, what matters is carbon net zero....say the people who hire private jets.

In the real world we're sliding on cue towards a currency collapse, which is where the Centralised Digital Currency of the Davos guys makes its entrance.Programmable money; it's a great instrument of control. In the future it won't be whether you can afford a house, it'll be whether you deserve to own one

Sarah1Mitty2

SuseOrm said:

To be honest the right to buy aspect of it is not what’s go into affect the market it’s more the fact that you can now use universal credit it’s towards purchasing a house where is previously you could only use them towards rent.  

All these apparent re-possessions that are going to take place because people can’t afford the increase in interest rates,  which actually aren’t coming for at least another 2 to 3 years for most people because they’ve got fixed mortgages,  will now be circumvented by the fact the people will be able to use the universal credits to cover the mortgage should they find themselves in Dire Straits.  

People who bought two to three years ago are seeing their mortgage costs going up right now, this scheme doesn`t benefit them at all, but you could always get help with mortgage payments I think but with a time delay of a few months unlike renters who could claim straight away.

housebuyer143

Sarah1Mitty2 said:

SuseOrm said:

To be honest the right to buy aspect of it is not what’s go into affect the market it’s more the fact that you can now use universal credit it’s towards purchasing a house where is previously you could only use them towards rent.  

All these apparent re-possessions that are going to take place because people can’t afford the increase in interest rates,  which actually aren’t coming for at least another 2 to 3 years for most people because they’ve got fixed mortgages,  will now be circumvented by the fact the people will be able to use the universal credits to cover the mortgage should they find themselves in Dire Straits.  

People who bought two to three years ago are seeing their mortgage costs going up right now, this scheme doesn`t benefit them at all, but you could always get help with mortgage payments I think but with a time delay of a few months unlike renters who could claim straight away.

It's a loan only for the interest on your mortgage payments and you have to wait 6 months. 
Will universal credit now replace this, I doubt it. 

[Deleted User]

Lady who called in to Radio 4 said she bought get council home in 1990 for £8,000.

Sold it there years later for over £100k.

Sarah1Mitty2

[Deleted User] said:

Lady who called in to Radio 4 said she bought get council home in 1990 for £8,000.

Sold it there years later for over £100k.

 3 years later, or 30?

sammyjammy

housebuyer143 said:

Sarah1Mitty2 said:

SuseOrm said:

To be honest the right to buy aspect of it is not what’s go into affect the market it’s more the fact that you can now use universal credit it’s towards purchasing a house where is previously you could only use them towards rent.  

All these apparent re-possessions that are going to take place because people can’t afford the increase in interest rates,  which actually aren’t coming for at least another 2 to 3 years for most people because they’ve got fixed mortgages,  will now be circumvented by the fact the people will be able to use the universal credits to cover the mortgage should they find themselves in Dire Straits.  

People who bought two to three years ago are seeing their mortgage costs going up right now, this scheme doesn`t benefit them at all, but you could always get help with mortgage payments I think but with a time delay of a few months unlike renters who could claim straight away.

It's a loan only for the interest on your mortgage payments and you have to wait 6 months. 
Will universal credit now replace this, I doubt it. 

You have to wait nine months.

Sarah1Mitty2

Why make people wait nine months, what is the point in that?

[Deleted User]

Sarah1Mitty2 said:

[Deleted User] said:

Lady who called in to Radio 4 said she bought get council home in 1990 for £8,000.

Sold it there years later for over £100k.

 3 years later, or 30?

3 is what she said, the minimum time before she was allowed to sell.

It was a great get-rich-quick scheme for some people, but screwed a lot more.

ayupmeduck

And those that work, rent, but get no benefits?

Jaded2022

Sarah1Mitty2 said:

Why make people wait nine months, what is the point in that?

We don’t know how it will work yet, it sounds like right away the housing element of UC could be for buyers as well as renters