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About Me

Found 9 results

  1. From Help to Buy in England - Terms and Conditions, as set out by Harlequin Homes (h/t long time lurking): I hadn't realised previously that HTB is apparently both an equity loan and non-recourse lending. This means that if the property reduces in value by x% the borrower has the choice of repaying the HTB loan minus x%, or selling the property and paying whatever they can towards the HTB loan minus x% from the proceeds of the sale less their outstanding mortgage (which may be nothing at all). This seems to set up a sweet spot between being in negative equity with regards to HTB and being in negative equity with regards to their mortgage, wherein, in a falling market, the borrower is incentivised to sell because this will reduce the amount owing on their HTB loan, and has no interest in holding out for any price above their outstanding mortgage amount because they gain no direct benefit for doing so. Help to Fire Sale?
  2. I have long doubted Mark Carney’s independence. George Osborne hand picked the governer, and for good reason. Osborne’s golden goose was /is help-to-buy, which has pushed up property prices, probably by the famous 35%. Carney, in turn, has repaid Osborne - long since gone but ever present, it seems - by keeping interest rates audaciously low. We can see what has happened and can imagine what will happen. Apart from interest rat rise (like opportunist retailers blaming brexit for all the prce increases) Carney will hide under the cover of ‘no deal’ and blame brexit for interest rises. He has a pount, but he also has a lot to answer for. Apart from that, he will get his British citizenship, and eventually become a lord. Nice work, the Tories will live on long after our collective debt death.
  3. Telegraph article today: One in four users of Help to Buy already owns a home [Don't have a Telegraph account, so can't read rest of article *] Eh? https://www.helptobuy.gov.uk/equity-loan/london-help-to-buy/ https://www.helptobuy.gov.uk/shared-ownership/ * Who are these (now) multiple home owners using HTB? Maybe it's explained in the rest of the Telegraph article? Perhaps the HTB sole property rules don't apply outside London? Can many of these people be looking to move, and are selling their 1st home?
  4. http://www.independent.co.uk/news/uk/politics/help-to-buy-affordable-housing-funding-divert-property-market-buyers-sajid-javid-a8233011.html Sigh
  5. An article in Private Eye I spotted today (attached). Credit to Ian Hislop and his team, they are bang on the mark when it comes to the housing crisis. I favour option 2!
  6. Well, I am well and truly lost. What the hell does this mean! http://citywire.co.uk/money/osborne-unveils-lifetime-isas-for-the-next-generation/a891672?ref=citywire-money-latest-news-list Is this anywhere in the country? Has the £3000 bonus towards a house been increased? It's going to take a while to get my head around this!
  7. Apologies if I have missed previous discussion, but if Help to Buy enables first-time buyers to buy newbuild property that they couldn't ordinarily afford, to whom will they sell it to in, say, 2022? The purchase price was artificially boosted by government subsidy, but the house is no longer a new build, so its sale price will not benefit from subsidised demand (via HTB equity loan, if it continues). Won't the 'owners' be trapped? Is the hope that wages will have increased in the meantime? Or will the mother of all Mega Help to Buy (mortgage guarantee) schemes support the next generation of purchasers? What is the official thinking on this (if any)?
  8. Interesting. This article is from 'Construction News', usually a mouthpiece of toff loving, tory sycophants. Now the construction industry continues to be in serious trouble, with many recent bankruptcies, it is having dark and disturbing doubts . . . . And finally. someone has noticed that prices are out of sync with salaries . . .
  9. Have you been trying to buy/sell a property in England and Wales and have found that vendors/buyers are difficult to commit even if an offer is accepted and ready to exchange? Have you lost most money, time and mostly patience with properties where things changed the last minute? Are you thinking of buying a property in the future and have your own family home but the news and house prices put you off on making this move? Do you think by changing the law, the process will be fairer and more transparent while stop house price inflation? If all the above sound familiar and bring bad memories of the property experience, then have a look at our petition and help us make a change. Share on Facebook and Twitter with friends and family. https://you.38degrees.org.uk/petitions/make-house-buying-fairer
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