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The History Of The First Right To Buy

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Telegraph Article

That is a lot of unearned money plucked out of thin air, quite how the "Lithuanian former student" can afford £180,000 leaves a few questions hanging, perhaps the first RTB is about to become a HMO?

What stuck me most about the article were the statements by people who owned the property and sold, saying

"We made a lot of profit"

no one made any profit from selling that property

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Telegraph Article

That is a lot of unearned money plucked out of thin air, quite how the "Lithuanian former student" can afford £180,000 leaves a few questions hanging, perhaps the first RTB is about to become a HMO?

+1 I know some other examples of immigrants from the most poor Eastern bloc countries (definetly not Slovenia,Croatia or ex-Yugoslavian republics which even after the 1990's war were far richer than any of Eastern bloc countries that joined EU.Crazy, but true.) who "managed" out of all that poverty and a lack of command of English language to get (in only a few years) onto the UK's property ladder,get fancy cars and nice holidays.

I do not buy the usual crap that they are "hard workers","educated" and "skilled".I met many of them and they do not fit that profile.Many of them are not even nice people.

I have been wondering for years how can they be given such high mortgages (considering that they work for much lower salary than Britons) together with lavish lifestyles after being in the UK for only a few years.They obviously know something that we don't, but definetly it is not about their "hard work", their "work ethic" and their "work skills" as it is trumpeted in the media.

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Having lived in the property for 18-years, the Pattersons qualified for a 40 per cent discount and, after putting down a deposit of just £5, they purchased the house in August 1980 for the sum of £8,315.

The Patterson’s marriage broke down amid the financial pressure of meeting the mortgage payments, which were rocketing due to high interest rates.

The most poignant part of the article for me. This pathetic obsession with owning over building more council housing for renting only and never RTB has been a scourge on the UK for nigh on 30 years. dry.gif

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I'm betting the bank has.

They have certainly creamed a lot of rent from their tenants

I wonder how much of the lifetime of the average property is it actually paid for and in private hands ?

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That is a lot of unearned money plucked out of thin air, quite how the "Lithuanian former student" can afford £180,000 leaves a few questions hanging, perhaps the first RTB is about to become a HMO?

That is a very strange way to describe her. She apparently moved to London to study 8 years ago, and is currently living in Hounslow. Doesn't say what she does, just skips over the last 8 years of her life (or, assuming she graduated, the last 5) - what a bizarre phrase. (They're probably hoping - and sadly, probably rightly - that people will read 'Lithuanian' as 'POVERTY STRICKEN TAKING ALL YOUR JOBS AND BENEFITS!!!11!!!1!' rather than 'Multilingual graduate with a professional job')

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What stuck me most about the article were the statements by people who owned the property and sold, saying

"We made a lot of profit"

no one made any profit from selling that property

No....not if they were buying another property.

It's nice for some that they got a discount on property just for sh1tting in the toilet for x amount of time.

Same as anyone that bought a property.....the property made hypothetical money all be it at a slower pace for them whilst they were sitting on the loo, right to buy or no right to buy....at least the size of the discounts were linked to time spent renting them, not all money for putting nothing in like some nowadays get......also remember interest rates were far higher then so the mortgage rental payments sometimes worked out to be more than the old council rents.... they had to now use their own funds to fix the roof, the boiler, insure it and paint it....no more free uniform front doors, choice of dirty brown or a bottle green colour. ;)

Then we had easy money lending, low interest rates and homes hit the roof.....the rest is history. ;)

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  • 238 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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