dredwerker Posted October 3, 2011 Share Posted October 3, 2011 Osborne is suggesting that they bring back "right to buy" We’re not stopping there, we’re saying let’s bring back the right to buy your council house, with proper discounts Labour got rid of.“Let’s use that money, when people choose to buy their council home, let’s use that money to build homes for rent, for low rent for families currently stuck on waiting lists.” Under Right to Buy in the 1980s tenants who had lived in their homes for up to three years got a 33 per cent discount on the market value of their homes, increasing in stages up to 50 per cent for a tenancy of 20 years. Mr Cameron has yet to say what discounts he will offer. Lets sell one lot of housing cheaply and then buy some more expensive homes. Then the council house owners laugh heartily whilst they buy a bigger house and sell it to the people who have been renting privately. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted October 3, 2011 Share Posted October 3, 2011 The discounts were capped. Max something like 16k or maybe 20k. Maybe that used to be 50% of a house value - somethign people need reminding maybe. Right to buy still exists doesn't it? Just longer qualifying period. Quote Link to comment Share on other sites More sharing options...
dredwerker Posted October 3, 2011 Author Share Posted October 3, 2011 The discounts were capped. Max something like 16k or maybe 20k. Maybe that used to be 50% of a house value - somethign people need reminding maybe. Right to buy still exists doesn't it? Just longer qualifying period. I just know some people who have profited enormously from this. Get the council round to fix the place up flog it. Make £30k or well over a £100k in another instance - gives a nice deposit to an FTB or goes towards a pension in another instance. If they were capped i dont know to what. Anyway there is a gazillion page thread on this that I missed Quote Link to comment Share on other sites More sharing options...
shell Posted October 3, 2011 Share Posted October 3, 2011 What's with the 'we will bring back discounts'? What discounts are we talking here? Quote Link to comment Share on other sites More sharing options...
Self Employed Youth Posted October 3, 2011 Share Posted October 3, 2011 The discounts were capped. Max something like 16k or maybe 20k. Maybe that used to be 50% of a house value - somethign people need reminding maybe. Right to buy still exists doesn't it? Just longer qualifying period. ---Lower discounts. Quote Link to comment Share on other sites More sharing options...
shell Posted October 3, 2011 Share Posted October 3, 2011 ---Lower discounts. But in scheme of things maybe all this right to buy stuff fairly meaningless? Because yer ave-chav (average chav) ain't got even the minimum loot to buy - even with lower discounts? Quote Link to comment Share on other sites More sharing options...
dredwerker Posted October 3, 2011 Author Share Posted October 3, 2011 But in scheme of things maybe all this right to buy stuff fairly meaningless? Because yer ave-chav (average chav) ain't got even the minimum loot to buy - even with lower discounts? au contraire What you find is a family member somewhere who has enough readies to pay for it and take the profit. Poss the mortgage people are stricter now. Quote Link to comment Share on other sites More sharing options...
Self Employed Youth Posted October 3, 2011 Share Posted October 3, 2011 But in scheme of things maybe all this right to buy stuff fairly meaningless? Because yer ave-chav (average chav) ain't got even the minimum loot to buy - even with lower discounts? I suppose it's a work/debt incentive. Accrue your discount with the housing benefit, then work like mad, get a mortgage (and if your sensible pay it off quickly). They need money injected into the economy, ideally (for them) through private debt. I'm accruing discount as we speak, and housing benefit is currently paying my rent. There aren't many jobs about, and the housing association keep putting the rent up above RPI, so the housing benefit bill increases and work incentives decrease (whilst less money can be spent in the productive economy). I could spend my time productively whilst unemployed creating wealth (by growing my own food) I could then spend more money in the economy, on Chinese made goods, if only I could get an allotment, but the waiting list is 2 years. Hopefully I'll get a job soon, hopefully doing something productive, or at least facilitating productive work. Quote Link to comment Share on other sites More sharing options...
Bradbury Robinson Posted October 3, 2011 Share Posted October 3, 2011 Around 2001-2002 I know for a fact that the limit was £26,000 discount when we inquired about it. Not sure how it has changed since. Quote Link to comment Share on other sites More sharing options...
Self Employed Youth Posted October 3, 2011 Share Posted October 3, 2011 Around 2001-2002 I know for a fact that the limit was £26,000 discount when we inquired about it. Not sure how it has changed since. Maximum discount levels for Right to Buy in each region There is a limit to how much money you can get off the value of your property through Right to Buy. The maximum discounts available by region are: £16,000 in Wales £16,000 in London (unless your home is in Barking and Dagenham or Havering, where the maximum discount is £38,000) £22,000 in the North East of England £24,000 in the East Midlands, Yorkshire and the Humber £26,000 in the North West of England and the West Midlands £30,000 in the South West of England £34,000 in the East of England (unless your home is in Watford, where the maximum discount is £16,000) In the South East of England, the maximum discount is £38,000, unless your home is in one of areas listed below. In these areas the maximum discount is £16,000: Chiltern Epsom and Ewell Hart Oxford Reading Reigate and Banstead Tonbridge and Malling Vale of the White Horse West Berkshire If you don’t know which limit applies to you, ask your landlord. http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/HomeBuyingSchemes/DG_186973 Quote Link to comment Share on other sites More sharing options...
Kokeshi Posted October 3, 2011 Share Posted October 3, 2011 au contraire What you find is a family member somewhere who has enough readies to pay for it and take the profit. There's a thread on MSE at the moment. She bought a house for an elderly relative under the right to buy scheme 5 years ago, she paid 17K for it but she had to put the house in the elderly relatives name or else they wouldn't get the discount. 3 years ago the house was transferred back into the OP's name to 'protect' the house in case the elderly realtive ever went into care..relative has now gone into care and she wants to know whether the council have any rights to the house to cover cost of care because of course she wants to sell the house and make a nice 60K profit... Quote Link to comment Share on other sites More sharing options...
dredwerker Posted October 3, 2011 Author Share Posted October 3, 2011 There's a thread on MSE at the moment. She bought a house for an elderly relative under the right to buy scheme 5 years ago, she paid 17K for it but she had to put the house in the elderly relatives name or else they wouldn't get the discount. 3 years ago the house was transferred back into the OP's name to 'protect' the house in case the elderly realtive ever went into care..relative has now gone into care and she wants to know whether the council have any rights to the house to cover cost of care because of course she wants to sell the house and make a nice 60K profit... exactly. Quote Link to comment Share on other sites More sharing options...
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