Council Tenants To Get Up To £75,000 To Buy Their Own Homes

[zugzwang]

Too late!

The consultation period was early this year.

You should have put your comments in at that time, I did.

What would have been the point? Their intentions are/were to maintain the housing pyramid by all means including outright theft and fraud.

A government of the bankers, by the bankers, for the bankers.

It ends only when the country defaults.

[Zante]

Is this likely to provide incentive for those on benefits to get a job?

"Oh I can buy my hovel, best start selling drugs".

[council dweller]

What would have been the point? Their intentions are/were to maintain the housing pyramid by all means including outright theft and fraud.

A government of the bankers, by the bankers, for the bankers.

What would have been the point? I asked for the maximum discount possible (otherwise it would never work).....the government office concerned thanked me for my input! If I'd have said something negative then it would have been ignored...that's how consultions work isn't it?

So that's the carrot but don't forget the stick. My rent is at 90 per week now and will get to 120 by 2016 followed by the inflation rate plus 1/2%.

I agree 100% on the bankers (have cash btw)

Edited April 3, 2012 by council dweller

[@contradevian]

Is this likely to provide incentive for those on benefits to get a job?

"Oh I can buy my hovel, best start selling drugs".

Hmm now thats an idea.

[council dweller]

Is this likely to provide incentive for those on benefits to get a job?

It will.....but five years ago there were 'walk into jobs', now they're as rare as ducks teeth.

[winkie]

Not read all this thread, only the title, but this is nothing new....housing associations have been paying their tenants lump sums to move for years.....almost 30 years ago they were paying £12k that is when £12k could buy a third of a home in London.

[brocken spectre]

Mother- in- law lives in a Council Flat in St.John's Wood approx Value £750,000.

What sort of Mortgage could she get?,bearing in mind she is 70.

BS

[crash2006]

Mother- in- law lives in a Council Flat in St.John's Wood approx Value £750,000.

What sort of Mortgage could she get?,bearing in mind she is 70.

BS

move in with he, or i'm sure that someone is willing to give her cash and buy the flat for her with a contract to pass it over after 3 years to them.

Edited April 3, 2012 by crash2006

[ingermany]

£75k would probably just wipe out the last 6 years of HPI on my humble 1 bed SE London social housing flat..... and it would have been over market valued by 200% back in 2006 as well.

That's how far London prices are due a correction. IMHO.

Absolutely spot on.

The "discount" is just an official recognition of how over-priced the market is. The 40-50% OFF price is just the approximate real market value. I wonder if other sellers are going to get nervous about this?

[@contradevian]

Mother- in- law lives in a Council Flat in St.John's Wood approx Value £750,000.

What sort of Mortgage could she get?,bearing in mind she is 70.

BS

Suggest you buy it? After all thanks to Daves generosity you will only have to find another £675,000 lol

[goldbug9999]

"That is why the announcement that the discounts are quadrupling in London and tripling throughout the country will be welcomed by hard pressed families everywhere"

Except for the hard pressed families who have to foot the tax bill.

[Peter Hun]

Except for the hard pressed families who have to foot the tax bill.

How do you figure that? The government is going to receive billions from buyers which would otherwise have to be raised by taxation. RTB is going to cut your tax bill and poor council tenants will be paying for it..

['Bart']

The scheme is essentially self-funding because the discount is more than the £23,000 cost to the taxpayer of councils or housing associations of building new affordable properties which can be let out to new tenants.

Eh?

Theres an important detail in the small print of this "tenants to get up to £75,000"

Indeed.

In the past (not sure about these days), when council houses were sold off, the valuations were much less than what might be expected for private properties.

That £75,000 discount figure would cover my place about 3 times over.

[council dweller]

Mother- in- law lives in a Council Flat in St.John's Wood approx Value £750,000.

What sort of Mortgage could she get?,bearing in mind she is 70.

BS

Your wife should move in with her on paper at least. She would need one year of of residence before she could take over the tenency.....get a few bills in your wife's name / electors residence etc.

[@contradevian]

Eh?

Indeed.

In the past (not sure about these days), when council houses were sold off, the valuations were much less than what might be expected for private properties.

That £75,000 discount figure would cover my place about 3 times over.

Mine too.

Also I understand that as a stick the government is forcing a stricter and narrower allocation policy on the rented stock based on need. So remaining estates or blocks become dumping grounds for those with serious problems. Not sure how that will help sales.

Any tenant determined to be no longer in "need" to be turfed out. I guess if I'm not forced into buying or determined to be not needy enough; I could always develop a drink and drugs problem.

Heaven for bid anyone should get any measure of security or even think of putting down roots without buying in this wonderful corporate state of ours.

[Shotoflight]

The right-to-buy scheme is economically irrational and negligent

Against a backdrop of austerity, the government's obsession with home ownership ignores the lessons of the credit crunch

http://www.guardian.co.uk/commentisfree/2012/apr/04/right-to-buy-scheme?INTCMP=ILCNETTXT3487

The rejuvenated RtB, however, like much of government policy, flies in the face of inconvenient facts, while underscoring the government's obsession with home ownership and its role in fostering "conservative values". Rather than implementing a more balanced housing policy to meet the UK's growing housing needs and one that enables everyone, regardless of tenure, to accumulate assets – an asset-owning rather than a property-owning democracy – the government is seeking to shore up levels of home ownership the credit crunch has already exposed as unsustainable

Against a backdrop of austerity and the desperate need to offer people an affordable renting option, the new RtB is an economically irrational policy built on a misreading of trends in the economy and housing market, and one that is negligent in the face of the nation's deepening housing crisis.

Flaws in Cameron's revival of right to buy

http://www.guardian.co.uk/society/2012/apr/04/right-to-buy-flaws

 I suppose I am an old cynic, but if David Cameron has a plan to breathe new life into Mrs T's "most significant achievement", I cannot help assuming that, like his mentor, he is aware of the beneficial effect of this largesse at a low point in his prime ministerial career on two million voters who might realise the wisdom of voting for their benefactor.

Besides, the £75,000 discount will make lending on mortgages in a falling market a very attractive proposition for Cameron's friends in the City. But at a time when affordable homes (as opposed to the unaffordable ones – how could there be such a dwelling in a market economy?) are hard to come by, will local authorities welcome a further contraction of their stock?

There are apparently 14% more homeless families in England now than there were last year. Perhaps Mr Cameron should concentrate on bringing the approximately 1m empty homes back into use by removing VAT from repairs and maintenance before he thinks how to boost his electoral chances.

Henry Pryor

Hay-on-Wye, Herefordshire

[council dweller]

The right-to-buy scheme is economically irrational and negligent

Against a backdrop of austerity, the government's obsession with home ownership ignores the lessons of the credit crunch

http://www.guardian.co.uk/commentisfree/2012/apr/04/right-to-buy-scheme?INTCMP=ILCNETTXT3487

The rejuvenated RtB, however, like much of government policy, flies in the face of inconvenient facts, while underscoring the government's obsession with home ownership and its role in fostering "conservative values". Rather than implementing a more balanced housing policy to meet the UK's growing housing needs and one that enables everyone, regardless of tenure, to accumulate assets – an asset-owning rather than a property-owning democracy – the government is seeking to shore up levels of home ownership the credit crunch has already exposed as unsustainable

Against a backdrop of austerity and the desperate need to offer people an affordable renting option, the new RtB is an economically irrational policy built on a misreading of trends in the economy and housing market, and one that is negligent in the face of the nation's deepening housing crisis.

Flaws in Cameron's revival of right to buy

http://www.guardian.co.uk/society/2012/apr/04/right-to-buy-flaws

 I suppose I am an old cynic, but if David Cameron has a plan to breathe new life into Mrs T's "most significant achievement", I cannot help assuming that, like his mentor, he is aware of the beneficial effect of this largesse at a low point in his prime ministerial career on two million voters who might realise the wisdom of voting for their benefactor.

Besides, the £75,000 discount will make lending on mortgages in a falling market a very attractive proposition for Cameron's friends in the City. But at a time when affordable homes (as opposed to the unaffordable ones – how could there be such a dwelling in a market economy?) are hard to come by, will local authorities welcome a further contraction of their stock?

There are apparently 14% more homeless families in England now than there were last year. Perhaps Mr Cameron should concentrate on bringing the approximately 1m empty homes back into use by removing VAT from repairs and maintenance before he thinks how to boost his electoral chances.

Henry Pryor

Hay-on-Wye, Herefordshire

Money from home sales will be used to build more homes, an important point missed.

'besides, the 75,000 discount will make lending on mortgages in a falling market a very attractive proposition

for Cameron's friends in the city' Spot on!! And all good for HPC!