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Osborne To Promise First-Time Buyers Help

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Quote:

The Budget will include a £250m package designed to help 10,000 first-time buyers to purchase a newly built flat or house, the BBC has learned.

http://www.bbc.co.uk/news/uk-politics-12824055

Please help by STOPPING TO FIDDLE AROUND THE EDGES !

+1

Tried to post a thread on the main forum about this same topic but can't see it yet. This is new front in the fight to keep the bubble going. Lloyds and the councils, some similar scheme called First Foot promised by Labour if they win in Scotland in May and some stories planted by housebuilders asking for mortgage inndemnity guarantees in the media today. Basically it's all more moral hazard they take the profits and we pay when it goes wrong.We are fecked. Every political party has sold its soul to the bankers on the altar of endlessly rising house prices. :ph34r: Seriously thinking I should be looking into leaving the UK for good. Just need to convince TOH.

Edited by siskin

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Under the chancellor's shared ownership housing scheme, the buyer would have to put up 5% of the purchase cost while the government and home builder would both put up 10%.

Yes, that's exactly what we need, another taxpayer-funded subsidy to the property developers.

Hey Osborne, if you really want to help out first time buyers, how about stopping your desperate attempts to prop up the market and allowing prices to fall to a reasonable level that FTBs can afford?

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Why don't they get it?

Houses are too expensive because of government support.

Put the money to better use and watch the problem solve itself!

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I still stick to my prediction there will be little overall change in house prices this year and after that, when prices start moving again, it will be upwards.

This initiative would tend to support house prices rather than decrease them, though.

Edited by Hyperduck Quack Quack

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+1

Tried to post a thread on the main forum about this same topic but can't see it yet. This is new front in the fight to keep the bubble going. Lloyds and the councils, some similar scheme called First Foot promised by Labour if they win in Scotland in May and some stories planted by housebuilders asking for mortgage inndemnity guarantees in the media today. Basically it's all more moral hazard they take the profits and we pay when it goes wrong.We are fecked. Every political party has sold its soul to the bankers on the altar of endlessly rising house prices. :ph34r: Seriously thinking I should be looking into leaving the UK for good. Just need to convince TOH.

IT IS SIMPLY UNBELIEVABLE!!!!!!!!!!!!!!!!!!

JEEZZZ THESE PEOPLE MAKE ME SICK!!

HOUSE "PRICES" NEED TO COME DOWN - BIG TIME - END OF STORY!!!!

:angry: :angry: :angry: :angry: :angry:

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So we are gonna have shared equity schemes. That will take 20% of the the ownership. Another 20% will be gone by the local councils genius plan to cover deposits that people can not actually afford. Then we have another 20% that the builders want the Government and them to pay indemnity insurance on. Will people actually end up buying houses or just 3.4% of them ?

Good old Britain. Overly complicated everything for absolutely no reason.

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HOUSE "PRICES" NEED TO COME DOWN - BIG TIME - END OF STORY!!!!

I agree, but they won't come down, not much anyway. My reasoning is that if house prices were going to crash, they'd have done so by now, 3 years on from the end of the boom, since which we've had the banking catastrophe and the world recession.

This package looks to me like it's primarily designed to help the building industry, and helping home FTB's is just a politically useful by-product that can be used as window dressing.

Edited by Hyperduck Quack Quack

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The free market Tories and Orange book liberals trying to prop up the housing market with tax payers money.

Oh dear!

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Don't panic just yet, look at what it's actually saying:

The Budget will also include a £250m package designed to help 10,000 first-time buyers to purchase a newly built flat or house, the BBC has learned.

The buyer would have to put up 5% of the cost, while the government and home builder would both put up 10%.

People will still have to put up 5%, and will still have to try and seek out funding for an 85% mortgage, plus it doesn't say when you have to repay this as most builders I know aren't up for giving freebies.

This is just atypical carrot and stick vote bait. It won't amount to jack squat.

Edited by cashinmattress

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This is a drop in the ocean though.

That link suggests that at peak there was 700k first time buyers. The latest figure is less than half that at 347,000. This scheme helps 10,000 first timers so just 3% of first timers at the low levels.

From what I heard on Sky it acts like a 5 year interest free loan ... not quite the interest and repayment free loans from the Bank of Mum and Dad over the last few years.

Also is it a 1 year measure or ongoing?

Edited by Twazza

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Don't panic just yet, look at what it's actually saying:

People will still have to put up 5%, and will still have to try and seek out funding for an 85% mortgage, plus it doesn't say when you have to repay this as most builders I know aren't up for giving freebies.

This is just atypical carrot and stick vote bait. It won't amount to jack squat.

I agree. Is 'help' :lol: to 10,000 FTBs going to make much difference?

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I almost don't care anymore. Europe beckons. Probably a better standard of life.

Guys, you may be waiting another couple years on top of what you've been waiting already! Maybe it will draw out long enough that over the long-term current prices fall in line with the curve... I bet many will be disappointed in the Conservatives now.. who will you vote for now? I hope to be out of the country. It's all over the news about this FTB sweetener. Sickening.

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Quote:

The Budget will include a £250m package designed to help 10,000 first-time buyers to purchase a newly built flat or house sign themselves into 30 years of mandatory dual income debt slavery, the BBC has learned.

Corrected for accuracy.

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Don't panic just yet, look at what it's actually saying:

People will still have to put up 5%, and will still have to try and seek out funding for an 85% mortgage, plus it doesn't say when you have to repay this as most builders I know aren't up for giving freebies.

This is just atypical carrot and stick vote bait. It won't amount to jack squat.

funding for a 75% mortgage because the gov (ie us) and house builder both have to cough up 10% so thats 25% total deposit.

why the F*ck should the taxpayer have to fund this!!?!?!!

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(...)

The Budget will include a £250m package designed to help 10,000 first-time buyers to purchase a newly built flat or house

(...)

That's £25,000 a pop!

Twenty five thousand pounds for each young homebuyer!

TWENTY FIVE THOUSAND POUNDS!!!!

Wait till the Daily Mail get hold of this.

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Don't panic just yet, look at what it's actually saying:

People will still have to put up 5%, and will still have to try and seek out funding for an 85% mortgage, plus it doesn't say when you have to repay this as most builders I know aren't up for giving freebies.

This is just atypical carrot and stick vote bait. It won't amount to jack squat.

Yep it`s just a bit of flag waving ,it will amount to very little ,the SLS was 180 odd billion and how long did the effects of that last

It`s just going to suck in a few thousand sucker`s

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Who cares if it's a drop in the ocean... it's the principle that matters...

That's £25,000 a pop!

Twenty five thousand pounds for each young homebuyer!

TWENTY FIVE THOUSAND POUNDS!!!!

Wait till the Daily Mail get hold of this.

+1... would take me several years indeed to save that up...

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I agree. Is 'help' :lol: to 10,000 FTBs going to make much difference?

Much more important is the principle involved.

To show he understands, and to show he cares about taxpayer money, he should bin this mad idea. That deficit is the result of lots of stupid ideas, lobbed one at a time on top of each other.

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This is merely the Home Buyer Direct Scheme but a lighter version.

Under the original the buyer only put up 5% - 10% and the Government along with the house builder would put up 30%.

Bank foots the rest.

Only difference is this one they got cheap, must be a sign of the times. :lol:

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It really shows how much of a mess the country is in if maintaining a property bubble is so important to the economy. Emperors new clothes.

Not only is is stupid, it is immoral. A complete abuse of taxpayers money. How can such a scheme even be fair.

We really to appear to be some sort of banana republic owned by a few rich, very influential men.

Why can't they just but out? It's not as if there is a supply problem (planning permissions, landbanks, regenerating old properties), address that and perhaps a downward pressure on prices might be a more positive move.

Sometimes you think nothing short of a revolution will sort this country out.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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