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bomberbrown

Wandsworth Council To Offer £50,000 Deposits To Tenants

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A London council is to help families get on the housing ladder by offering tenants and first-time buyers £50,000 deposits.

http://www.bbc.co.uk/news/uk-england-london-13864237

The only bit I like about that article is the fact that Right to Buy in Wandsworth has fallen off a cliff since 2003 and that the discount has now been reduced from £38,000 down to £16,000. Woot!

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http://ww3.wandswort...fo.aspx?UID=927

Councillor Govindia.

bigpic.jpg

Lying Thieving Scumbag who wants debt slaves in his neighbourhood on 50-100 year mortgages.

Go F@@ Yourselves Tories.

Sincerely,

2-3 million First Time Buyers.

Edited by Dan1

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How many people are going to be given £50,000 ?

Where is this money coming from ?

No mention of the elephant in the room (I'm not talking about Mr Govinda's Ganesh)

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They have correctly identified the problem :

"We have a real problem in London in that low and middle-income working households are towards the back of the queue when it comes to social housing, yet they do not have the financial muscle to get onto the property ladder," said Councillor Govindia.

It is a pity that they do not realise that the problem is the result of market manipulation. More market manipulation isn't going to be the solution to the problem.

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Every god damned story that the Odious, Cancerous BBC print is a Vested Interest story.

Is that because thousands of Executives at the BBC are given taxpayer funded six figure salaries, and were all investing in BTL portfolios, whilst commissioning an excessive amount of property porn programmes? And at the same time suppressing investigative programmes on endemic mortgage fraud?

Morning after the 1997 election, Broadcasting House was littered with empty champagne bottles..............

BBC=Champagne Socialist VI f@@@ing scum.

Edited by Dan1

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Market manipulation? Probably. But the councils primary concern is to get as many people as they can off their books so to speak. The on-costs of subsidising residents via hb are far greater than any one off payment. It's no help to everyone else - but I'm not sure that's the point.

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Since when do you need £50,000 anywhere for a deposit?

You obviously don't spend enough time in Wandsworth..

Average House Price in Wandsworth

Wandsworth

Average house price

£473,691

Detached £1,341,071

Semi-detached £930,239

Terrace £631,177

Flat £340,779

PS How do we go about doing a mass Freedom of Information request to get a full disclosure of all MP's property interests???

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A London council is to help families get on the housing ladder by offering tenants and first-time buyers £50,000 deposits.

http://www.bbc.co.uk/news/uk-england-london-13864237

The only bit I like about that article is the fact that Right to Buy in Wandsworth has fallen off a cliff since 2003 and that the discount has now been reduced from £38,000 down to £16,000. Woot!

"We must all work together to maintain house prices at current levels. I have the assurance from King that he will comply fully in keeping interest rates where they are because he knows what will happen to house prices with even a single .25% rise. We need to make sure that councils and even the private sector chip in to get buyers into houses even if the buyers cannot afford it. If we lose this one gentlemen the whole country will collapse and we will be where Greece is within a few months. I am afraid we have gotten ourselves into this mess with decades of speculation in house prices and the last decade or so has pushed us into an untenable position. We must try to hang on at all costs. Get the buyers buying--I don't care what it takes. The future of our nation is at stake."

DC to the inner cabinet, Bankster Caporegimes and select CBI cronies

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I hate this country. It may easier to detach wife from parents apron strings and clear off.

+1000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

Edited by Dan1

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You obviously don't spend enough time in Wandsworth..

Average House Price in Wandsworth

PS How do we go about doing a mass Freedom of Information request to get a full disclosure of all MP's property interests???

So even with a 50k deposit you'd need a £290,000 mortgage for a flat, or about 10x average wage. Hilarious !

Edited by SpewLabour

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Got to love the free markets, subsidies everywhere.

Subsidise or collapse.

The west is long past bankruptcy and is living on confidence tricks. I tell ye, the key to survival of UK Plc is house prices. When they go the nation goes with it. It is that serious.

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Thanks for the link, I have already found a few members interests listed online (though my council Mole Valley District doesn't, you have to write a letter)

I was hoping that some enterprising individual would have created an online database of all MP's property interests...

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Market manipulation? Probably. But the councils primary concern is to get as many people as they can off their books so to speak. The on-costs of subsidising residents via hb are far greater than any one off payment. It's no help to everyone else - but I'm not sure that's the point.

Please think do!

You are suggesting they are providing housing benefit funded tennants with up to £50 000 as a deposit for a mortgage.

Who is going to be providing the mortgage?

Oh, on-costs. A little passe.

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Right, time to go for a monster blow out a few luxury holidays, a porche and several months of fine dining and champagne until I have spent my deposit then I'll claim my £50k.

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Please think do!

You are suggesting they are providing housing benefit funded tennants with up to £50 000 as a deposit for a mortgage.

Who is going to be providing the mortgage?

Oh, on-costs. A little passe.

any resident who owns their own property is not going to come to the council demanding to be housed....

Edited by Milkshock

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Let me make a long story short. If house prices crash our economy is bankrupt. See Ireland, Spain and Portugal.

We're not a Japan which has vast amounts of world beating industry to back it up.

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I am also sure most housing benefit recipients will have no problem meeting the payments on a £600,000 loan.

Especially with the tremendous number of good paying, stable private sector jobs created under Blair-Brown-Cameron.

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Thanks for the link, I have already found a few members interests listed online (though my council Mole Valley District doesn't, you have to write a letter)

I was hoping that some enterprising individual would have created an online database of all MP's property interests...

Somebody did just that on here already, on some shared google spreadsheet. If I can find it.........

And as if by magic! http://www.housepricecrash.co.uk/forum/index.php?showtopic=153979&view=findpost&p=2772999

Edited by bomberbrown

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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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