[MrPin]

I think the Government are finding out, rather late, what a "free market" is, and they don't like it!

[Grrrr I'm a tiger]

Democorruptcy, on 29 March 2012 - 01:44 PM, said:

In theory it's 14% risk averted for banks 5% FTB, 3.5% builder indemnity and 5.5% government indemnity
http://www.communiti...y/newbuyglance/

So £86k risk per £100k loaned

However if the builder puts their 3.5% on to the price it's only 11% risk averted. It has to be disappointing for bankers when the council firstbuy scheme averts 25% for them.

Maybe the bankers are not favouring smaller builders as much because if things go wrong with the larger ones they have better landbanks and the can always take equity as part payment for failing loans?

I think you'll find that these days, every single site is a separate limited company.

That way, the builders argue, the entire company is not destroyed by downturns affecting individual sites.

Or, I would argue, it is another case of the limited liability laws being misused - so that profits can be extracted and losses taken by someone else.

[wonderpup]

Clearly the building trade did not donate enough money to buy them a premier league bailout scheme.

[okaycuckoo]

Dorkins, on 29 March 2012 - 11:52 AM, said:

I think many people have serious cognitive dissonance when it comes to MEW. They think the money they are spending came from the house, as if fivers started sliding out from between the bricks, when of course the money came from the lender who added it onto the mortgage.

I likes it!

Kind of creepy ...

[beccles]

Bruce Banner, on 29 March 2012 - 11:58 AM, said:

I only have a small part of my accumulated equity tied up in property and none of that property is a house, or even a flat .

Thanks for that bit of info

Is there anyway on this forum to put people on ignore? I reckon I've read about BB savings pot about 200 times.

This post has been edited by beccles: 30 March 2012 - 10:44 PM

[Shaneyson]

beccles, on 30 March 2012 - 10:43 PM, said:

Thanks for that bit of info

Is there anyway on this forum to put people on ignore? I reckon I've read about BB savings pot about 200 times.

You are exaggerating, more like 500. Have some compassion though, because must be difficult to have loads of money whilst remaining so modest all the time.

[bmf]

beccles, on 30 March 2012 - 10:43 PM, said:

Thanks for that bit of info

Is there anyway on this forum to put people on ignore? I reckon I've read about BB savings pot about 200 times.

+1MM

[ader]

There's a planned site for a bunch of new houses near me. 5 bed detached asking price £275k on rightmove. None built yet.

But propertyBee shows one sold in 2009 for £200k I wonder why no-one is interested at the new price and if they'll ever get built...

[Venger]

Here is Stewart Baseley's letter to Home Builders Federation in full.

http://www.telegraph...eys-letter.html

New Buy ?

Clicking on the large banner which appears on the Rightmove main page much of the time, their schemes are called FirstBuy (government scheme) and HomeBuy (UK Government). Now this New Buy.






They don't seem able to decide what to call it. They probably don't care. Just baffle mug first time buyers with jargony confusing schemes to make it look like you're helping them, whilst all the time helping the building buddies.

There's a map of the UK with regions these homes are in. Most of them look very unappealing. Jon Snow is right we need lots of new building, but not homes like these, nor through schemes where land and the build is a lot more expensive for the buyer because these 'buying help' schemes exist.

[MrB]

Venger, on 01 April 2012 - 12:45 PM, said:

Here is Stewart Baseley's letter to Home Builders Federation in full.

http://www.telegraph...eys-letter.html

New Buy ?

Clicking on the large banner which appears on the Rightmove main page much of the time, their schemes are called FirstBuy (government scheme) and HomeBuy (UK Government). Now this New Buy.






They don't seem able to decide what to call it. They probably don't care. Just baffle mug first time buyers with jargony confusing schemes to make it look like you're helping them, whilst all the time helping the building buddies.

There's a map of the UK with regions these homes are in. Most of them look very unappealing. Jon Snow is right we need lots of new building, but not homes like these, nor through schemes where land and the build is a lot more expensive for the buyer because these 'buying help' schemes exist.

New Buy
First Buy
Home Buy.

I've got a name for a scheme:

Don't ******ing Buy (Rent Instead)