Wurzel Of Highbridge Posted January 21, 2014 Share Posted January 21, 2014 (edited) Posted on the state propaganda 'help to buy' facebook page. Tying the Knot with Help to Buy With the imminent sound of wedding bells ringing in their ears, Bromsgrove couple Tom Coe and Laura Sampson, both 25, were keen to put down some firm roots for their future. Tom, a solicitor, says: “Since graduating from Derby University we’ve both lived with our respective parents in Bromsgrove. We’re getting married in March and both wanted to get a home together to begin married life in. We decided to look into buying, but we both thought it would be years before we’d be able to buy our own home. Thankfully for Tom and Laura the Help to Buy equity loan scheme was launched. Tom continues: “We heard about the Help to Buy equity loan in the media, so decided to find out if it would be something which could help us to get a foot on the property ladder. The Help to Buy equity loan helps buyers purchase a brand new home with an equity loan of up to 20% of the full price of the property. Buyers don’t have to pay any fees on this loan for the first five years and own 100% of the property from the start. Buyers need to be able to fund at least 80% of the property price through a conventional mortgage with a lender for the Help to Buy equity loan. Lenders usually require you to have a deposit of at least 5%, so a mortgage will typically be for 75% of the purchase price. The couple went along to the Bellway Home’s new development, Waterside Walk, in nearby Droitwich Spa and were over the moon with what they heard and the help they received. “The whole process was so simple, we were helped every step of the way. They worked out what we could afford, helped us to fill in the application form for the Help to Buy equity loan and sent everything to Orbit Help to Buy Agents for us, who assessed our application. We found out within days, that the equity loan was sustainable for us - it was so easy and straight forward. Before they knew it, Tom and Laura were turning the key in the lock of their very own three-bedroom home. Tom adds: “It’s been incredible being able to buy our own home, we can still hardly believe it. The fact that the Help to Buy equity loan is interest free for five years has really helped us to get established and it means we’ve been able to buy the best house we possibly can - it’ll be years before we have to think about moving.” another thing I have heard people saying a lot the last couple of weeks is "Saving up for a mortgage" FFS! Edited January 21, 2014 by Gone to Ireland. Quote Link to comment Share on other sites More sharing options...
billybong Posted January 21, 2014 Share Posted January 21, 2014 The fact that the Help to Buy equity loan is interest free for five years has really helped us to get established.. A bit of wishful thinking there. Quote Link to comment Share on other sites More sharing options...
Austin Allegro Posted January 21, 2014 Share Posted January 21, 2014 There are so many embedded emotive phrases in that article I feel certain it was written by someone with a knowledge of neuro-linguistic programming! Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted January 21, 2014 Share Posted January 21, 2014 Posted on the state propaganda 'help to buy' facebook page. Tying the Knot with Help to Buy another thing I have heard people saying a lot the last couple of weeks is "Saving up for a mortgage" FFS! Given how feckless much of the population is - likely running with no savings and a large credit card/loan debt load to service - it's not really surprising that even scraping together a 5% deposit needed to get a mortgage is going to be a major mission. Not to worry, as the Govt is now 'all in' on making sure houses continue to get more unaffordable, it's not too unrealistic to think that sooner rather than later they'll be working to remove that hurdle to mortgage-taking too, with taxpayer money. The credit supply must be fed. Quote Link to comment Share on other sites More sharing options...
JustAnotherProle Posted January 21, 2014 Share Posted January 21, 2014 There are so many embedded emotive phrases in that article I feel certain it was written by someone with a knowledge of neuro-linguistic programming! Some may say it's all part of the common purpose NLP reprogramming of the population, but I don't believe it Quote Link to comment Share on other sites More sharing options...
Si1 Posted January 21, 2014 Share Posted January 21, 2014 They're probably getting less subsidy then a family on tax credits, and having to work much harder in return. They are assuming the debts and costs of previous generations and have the rest of their lives to regret it. Quote Link to comment Share on other sites More sharing options...
MartinE Posted January 21, 2014 Share Posted January 21, 2014 Which one is the EA? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 21, 2014 Share Posted January 21, 2014 Well done, she has sponsored a banker and will help keep them out of poverty. Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted January 21, 2014 Share Posted January 21, 2014 Since when has a £209k three bedroomed house been deemed as a starter home as well? I can just see in 5 years time cries of misselling over the interest free loan when short termist mugs like these have to start paying substantial interest payments on them. Quote Link to comment Share on other sites More sharing options...
bearwithasorehead Posted January 21, 2014 Share Posted January 21, 2014 Posted on the state propaganda 'help to buy' facebook page. Tying the Knot with Help to Buy another thing I have heard people saying a lot the last couple of weeks is "Saving up for a mortgage" FFS! There's a record of a Tom Coe standing as a LibDem in this District Election Quote Link to comment Share on other sites More sharing options...
bearwithasorehead Posted January 21, 2014 Share Posted January 21, 2014 There's a record of a Tom Coe standing as a LibDem in this District Election Yep, looks like the LibDem Chair of the Local party to me. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted January 21, 2014 Share Posted January 21, 2014 The couple went along to the Bellway Home’s new development, Waterside Walk, in nearby Droitwich Spa and were over the moon with what they heard and the help they received. anything with 'water' in the street name should ring alarm bells Quote Link to comment Share on other sites More sharing options...
longtomsilver2 Posted January 21, 2014 Share Posted January 21, 2014 There's a record of a Tom Coe standing as a LibDem in this District Election Nice find and for a solicitor he's not the sharpest tool in the box. I'm an uneducated fool and even I can work out what I can and can not afford. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 21, 2014 Share Posted January 21, 2014 also under the HELP TO BUY banner on the same marketing website: Help to Buy - Shared Ownership Help to Buy - Shared Ownership is a fantastic opportunity for those who want to get a foot on the property ladder but can’t afford to buy a home on the open market. It allows you to buy a share in a brand new leasehold property (either a house or an apartment) on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Most Registered Providers (Housing Associations) offer shares for sale of between 25% and 75% of the property depending on how much you can afford to purchase and charge rent on the remaining share. The bigger the share you buy, the less rent you have to pay. You will need to be able to raise a mortgage for the share you want to purchase unless you have sufficient money to enable you to do so. In most cases, as you become able to afford it, you can, if you wish, buy additional shares until you own the property outright. This is known as ‘staircasing’. Im sure its nothing to do with HTB though. Quote Link to comment Share on other sites More sharing options...
longtomsilver2 Posted January 21, 2014 Share Posted January 21, 2014 Why can't I edit? I was going to add that being a solicitor is all about conning people out of money and here he is. The mark himself. Quote Link to comment Share on other sites More sharing options...
Caveat Mortgagor Posted January 21, 2014 Share Posted January 21, 2014 Why can't I edit? I was going to add that being a solicitor is all about conning people out of money and here he is. The mark himself. According to his LinkedIn profile, he's a trainee. Seems he has a lot to learn. Quote Link to comment Share on other sites More sharing options...
jonpo Posted January 21, 2014 Share Posted January 21, 2014 Sounds like money in the bank to me... For the bank that is.... 2 Recent grads are going to have their incomes rise very rapidly over the next few years... Depends what they did .. But the worth of a degree is typically several hundred thousands in today's money... Let alone after 30 years of inflation...There is almost no way the bank cannot get its money back off lending theme what 80k each over 30-35 years at a 75% ltv.. I'd almost lend them the money myself if they came to me for it. Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted January 21, 2014 Share Posted January 21, 2014 Sounds like money in the bank to me... For the bank that is.... 2 Recent grads are going to have their incomes rise very rapidly over the next few years... Depends what they did .. But the worth of a degree is typically several hundred thousands in today's money... Let alone after 30 years of inflation...There is almost no way the bank cannot get its money back off lending theme what 80k each over 30-35 years at a 75% ltv.. I'd almost lend them the money myself if they came to me for it. This is a parody account, right? Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted January 21, 2014 Share Posted January 21, 2014 Posted on the state propaganda 'help to buy' facebook page. The Help to Buy equity loan helps buyers purchase a brand new home with an equity loan of up to 20% of the full price of the property. Buyers don’t have to pay any fees on this loan for the first five years and own 100% of the property from the start. Erm.... Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted January 21, 2014 Share Posted January 21, 2014 Help to buy = (banker + lawyer win) + (present year/election year)Policial gains - destruction of social security for nation. Just wait until all these folk have to stump up 20% equity when they try to sell... or flip. Not going to pretty. I can foresee the crying on the interwebs already about how stupid they were to do such a thing. Quote Link to comment Share on other sites More sharing options...
jonpo Posted January 21, 2014 Share Posted January 21, 2014 This is a parody account, right? sorry no... I'm just providing much needed balance here. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 21, 2014 Share Posted January 21, 2014 (edited) This is a parody account, right? All graduates have fast rising salaries dontchaknow..media studies, marketing and David Beckham are all sought after BA. Mate mine's son bought a 3 bed place near Bromsgrove for 120K 18 months ago. Edited January 21, 2014 by Bloo Loo Quote Link to comment Share on other sites More sharing options...
DabHand Posted January 21, 2014 Share Posted January 21, 2014 Sounds like money in the bank to me... For the bank that is.... 2 Recent grads are going to have their incomes rise very rapidly over the next few years... Depends what they did .. But the worth of a degree is typically several hundred thousands in today's money... Let alone after 30 years of inflation...There is almost no way the bank cannot get its money back off lending theme what 80k each over 30-35 years at a 75% ltv.. I'd almost lend them the money myself if they came to me for it. Ah man, and l was about to congratulate you on some seriously deadpan humour l thought you were serious, then l realised you were having a laugh...no you were serious. Be interested in looking at your fag packet for more info on this: "But the worth of a degree is typically several hundred thousands in today's money... " Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted January 21, 2014 Share Posted January 21, 2014 sorry no... I'm just providing much needed balance here. Balance? I was wondering how increased participation in Higher Education has reduced the rewards for graduates over the past 30 years. Not withstanding current job opportunities for newly qualified professionals, specifically the prospect of legal graduates after recent legal aid changes. Nor the debt overhang already incurred by these youngsters who are probably hampered by ‘top-up’ fees even if they escape the injustice of current fee levels, let alone a further debt via HTB to be repaid in future. Then I recall that inflation has been falling for over 30 years and wage inflation must be as poor as it has been in recent times and I wonder if anything makes sense anymore. So, please, balance away. Quote Link to comment Share on other sites More sharing options...
Si1 Posted January 21, 2014 Share Posted January 21, 2014 (edited) sorry no... I'm just providing much needed balance here. No you're talking nonsense. Are you from the baby boomer school of" university worked for me" They're slaves He might not get beyond a salary law position and they'll end up being sitcoms (single income two children onerous mortgage) Edited January 21, 2014 by Si1 Quote Link to comment Share on other sites More sharing options...
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