Tuesday, Feb 14, 2017

Gotta Keep It Going

Today's Convayancer: First-time buyer demand for family support builds

Is BOMAD running out of funds? No problem BOGAG is open for business. Can we get another layer in at the bottom of the pyramid?

Posted by crash bandicoot @ 10:12 PM (4462 views) Add Comment

8 Comments

1. icarus said...

https://www.todaysconveyancer.co.uk/news/ftbs-demand-family-support/

Wednesday, February 15, 2017 08:54PM Report Comment
 

2. mombers said...

For those without wealthy parents or grandparents, how about equal tax treatment for loans or gifts the Bank of Work? If you get a soft loan from work, you get taxed on the difference between market rates and what you're offered, if it's an outright payment its anything up to 53% tax. A topsy turvy world we live in where you get taxed only if you actually personally exert any effort in making your money

Friday, February 17, 2017 08:33AM Report Comment
 

3. a saver said...

Did any other HPCers watch the Tonight programme on the BOMAD issue last week? http://www.itv.com/news/2017-02-16/bank-of-mum-and-dad-tonight/ (also see Twitter etc comments)
What I found really sad was the grandmother who'd remortgaged her own house to raise 120k for her grandson to buy a house (and also encourages other to do the same!). Don't know her income or what proportion of her house this represented but suppose interest rates increase or there's a massive HPC and she goes into negative equity?? (Yes I know the government are hellbent on preventing either scenario) Can't imagine letting my granny/parents take on a risk like that for me....

Saturday, February 18, 2017 01:08PM Report Comment
 

4. taffee said...

The risk in debt has been eroded in people's minds
In the real world laws have been changed so your
House is at risk of a charging order for just £1000

£120k is actually a huge debt and if you dont keep up payments they will take it off you

Sunday, February 19, 2017 07:05AM Report Comment
 

5. taffee said...

That's £1000 of debt can result in charging order if defaulted

Charging order can also be applied alongside a ccj
Not just when a ccj is defaulted upon

Sunday, February 19, 2017 07:08AM Report Comment
 

6. taffee said...

Meant they will take your house off you@4

Sunday, February 19, 2017 07:52AM Report Comment
 

7. icarus said...

Remortgaging to help kids to buy a house = Fake valuation (we aren't 5 times wealthier if our house 'values' rise x5) realised to increase fake valuation (as cb implied in his intro above). Charles Ponzi must be wondering why he never thought of that one. And on such a scale.

Sunday, February 19, 2017 09:07AM Report Comment
 

8. happy mondays said...

The Emperor's new clothes! It's all an illusion..

Tuesday, February 21, 2017 01:01PM Report Comment
 

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