Government announces sweeping homeownership reforms

SuseOrm

sammyjammy said:

SuseOrm said:

sammyjammy said:

daveyjp said:

Thrre's a long way between a speech today and anything coming into force.  This is all about manifesto kite flying.

Indeed, also a great way to get people moving voluntarily to UC and even if it did come in no guarantee that lenders will actually lend on that basis.  Surely limits would apply as they do for housing element as well - not likely to help any first time buyer in L&SE

You can’t move voluntarily to universal credits.  

If you lose your job they would want to know how why where when,  if you reduce your hours without a bloody good reason you will be sanctioned,  if you forget to login on a Tuesday afternoon at 2:32 you will be sanctioned.  If you don’t attend a meeting for literally any reason,  with less than 24 hours notice at your local job centre that could be 2 1/2 hours away from your actual place of work during working hours you will be sanctioned.  

I’m sure you’re getting the jist.  

Erm yes you can move voluntarily to UC if you are currently claim tax credits or other legacy income related benefits.

Not much of a drama queen are you!

Yes but if you’re already earning so little that your own tax credits you’re already screwed financially and having seen with my own eyes the hoops they make people jump through for universal credit so I’m absolutely laughing my socks off at you guys all queueing up to be poor it’s such fun I don’t know why more people don’t do it 🙄

SuseOrm

@sammyjammy A man actually starved to death waiting for A universals credit award to come through,  is that enough drama for you ? 

steampowered

This policy is a great illustration of everything that is wrong with the way the current government approaches running the country.

Badly thought through.
Total lack of detail.
Most of it sounds unworkable.
No consultation or white paper so nobody has any idea how it would actually work. 
No thought given to how people will react to benefit claimants using their benefits to buy property wealth. 

Doesn't matter whether you are right wing or left wing at this point. Whatever people's political views, the government ought to be competent and ought to think things through properly. Not just come up with random announcements off the hoof as they go along. 

I'd love to know why Boris' team think that banks will be willing to lend mortgages to people on the basis of housing benefit. Even in the private rented sector most landlords won't take HB. 

The purpose of this announcement was to distract attention away from other political news stories.

It will be quietly dropped in a few months, just like most of the other "policy announcements" that have come out of this government.

RyanHello

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

Bonniepurple

I suspect that this “announcement” serves several purposes, none of them beneficial to the vast majority of people:

It’s deflecting attention from the fact that 148 of his own MPs have no confidence in Boris

It’s providing a carrot to move voluntarily to Universal Credit, and, if people find themselves worse off, they can’t go back to Tax Credits and have no transitional protection 

It’s making people think that they will be able to buy a house and the Government will pick up the tab.

Im sure there’s plenty of others.  FWIW I was able to use my Tax Credits, Child Benefit and PIP as affordability towards my mortgage.  I certainly wouldn’t want them to be my sole income for a mortgage though.  The Tax Credits and Child Benefit are likely to be about the same until 2025 when one child turns 18, before stopping completely in 2027.  My PIP is due for renewal in 12 months and I am anticipating having to battle to get it, even though my mobility has got worse since it was awarded.

[Deleted User]

davemorton said:

Oooo, I do hope I can leave the stressful job I am in at the moment, get a nice job without the stress that pays a lot less, and let the government top up my wages by paying my mortgage.  

Funny thing about jobs, above a certain level most of the stress goes away. It's often the worst paid jobs that come with the worst conditions.

TonyTeacake

Another attempt for a stupid Ponzi scheme to get more voters. Let's face it Boris for you and your party it is game over.
Affordable houses should be built for FTB only and not for private landlords to snap up and rent out at extortionate prices. My understanding is that housing association houses are owned by them and not the government so how would this work.

Just hold tight everyone we will have some affordable houses in the next 12-24 months due to big price drops. The decline has already started in Australia, Canada & USA, so won't be long before it starts happening here when the economy collapses due to this inflation monster.

Sarah1Mitty2

TonyTeacake said:

Another attempt for a stupid Ponzi scheme to get more voters. Let's face it Boris for you and your party it is game over.
Affordable houses should be built for FTB only and not for private landlords to snap up and rent out at extortionate prices. My understanding is that housing association houses are owned by them and not the government so how would this work.

Just hold tight everyone we will have some affordable houses in the next 12-24 months due to big price drops. The decline has already started in Australia, Canada & USA, so won't be long before it starts happening here when the economy collapses due to this inflation monster.

I think the last time they piloted this scheme many of the HA`s were not willing to get involved.

No wonder they are trying to come up with daft house buying schemes though.....

https://www.dailymail.co.uk/property/article-10901045/Solo-time-buyers-need-raise-double-deposit-10-years-ago.html

TonyTeacake

Sarah1Mitty2 said:

TonyTeacake said:

Another attempt for a stupid Ponzi scheme to get more voters. Let's face it Boris for you and your party it is game over.
Affordable houses should be built for FTB only and not for private landlords to snap up and rent out at extortionate prices. My understanding is that housing association houses are owned by them and not the government so how would this work.

Just hold tight everyone we will have some affordable houses in the next 12-24 months due to big price drops. The decline has already started in Australia, Canada & USA, so won't be long before it starts happening here when the economy collapses due to this inflation monster.

I think the last time they piloted this scheme many of the HA`s were not willing to get involved.

No wonder they are trying to come up with daft house buying schemes though.....

https://www.dailymail.co.uk/property/article-10901045/Solo-time-buyers-need-raise-double-deposit-10-years-ago.html

That's right Sarah the Housing Associations probably won't get involved. The government don't own their properties so I can't see them selling these off unless a big incentive is offered.

SuseOrm

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.