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munimula

Removal Of Key Worker Support

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Someone I know, a nurse is being offered £50K from the government to buy a house.

There is no interest to be paid on this, it just has to be paid back when the property is sold so basically it looks like a £50K gift.

This has allowed her to buy a 1-bed flat in Surbiton, something that she wouldn't be able to afford otherwise. She is in the process of buying a flat from a BTLer so it appears that there are some sensible BTLers out there and not all in it for the 'longterm'

I learnt this week that this scheme ends at the end of the year so I was thinking this scheme must have had some effect in proping prices up, particularly around here of the 1-bed FTB/BTL fodder.

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What you mean all them police men that retire before they are 50 due to ill health and on large pensions paid out by us are now going have to return to work then !

You can bet we will all get more speeding tickets and parking fines so maybe we should convict them for the criminals they are, should be easy as many take part time jobs :rolleyes:

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Debt limits have been reached/breached in many hospital trusts, it seems that clsoing wards is taking precendet over getting rid of the bloated admin.

Schools are closing on a very regular basis too as rural areas in particular are being denuded of families.

Maybe the "key worker" money should be diverted to services and not on some house-propping gimmick.

...................................

Closure Threat To Barrow Private Hospital The NorthWest Evening Mail, Cumbria 09:59

Closure of care home 'a sin' Blyth and Wansbeck News Post Leader, Northumberland 08:35

500 attend meeting to defend hospital HUNDREDS of people queued for hours in the... The Carlisle News & Star, Cumbria 11:52 30-Nov-05

Mayday managers criticised by nurses after ward closure This is Local London 15:45 30-Nov-05

Closure of hospitals to be opposed Norfolk Now 06:16 30-Nov-05

School closure option is examined BBC News 12:48 29-Nov-05

Birth units closure threat The Press and Journal, Scotland 09:25 29-Nov-05

Health trust approves closure of medical centre Hull Daily Mail, Yorkshire 16:20 26-Nov-05

Baby unit closure rumours confirmed Rossendale Free Press, Lancashire 12:47 25-Nov-05

A&E closure proposal a 'betrayal' The Chronicle, West Midlands 09:23 25-Nov-05

Closure fear in schools shake-up Spenborough Today, Yorkshire 09:21 25-Nov-05

Signatures protest 'shameful' ward closure proposals The Westmorland Gazette, Cumbria 09:04 25-Nov-05

Hip and knee units could face closure Hospital Doctor 15:47 24-Nov-05

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We're not all bad. I was accepted on the Homebuy scheme & offered a £35k interest free loan. But i had a long think about it & declined.

well done. I'm not exactly tempted, either. The shared ownership houses seem overpriced and the idea of being liable for 100 per cent of the repairs and upkeep while only owning half a house seems plain wrong to me. I'm in London (and not exaclty a sparkling bit) but even with a 50k interest free loan we couldn't afford a place of the size we need - we'd have grown out of it in 2-3 years (could only get a 2 bed as they only let you get a mortgage of 3x income plus the loan, despite the fact the repayments would be way lower on that than on our current rent. We have two kids of different sexes so need the sort of 3 bed terrace that would have been affordable to us had we been on current salaries back in 2001) and I really don't think prices will remain at the current level. Being in the position of forced seller in 2009 is NOT looking attractive...

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Wonder why the scheme is ending? Are the goverment expecting a huge dip in prices next year? :blink: What happens if you change job/move out of the public sector? Are you forced to move or pay back the loan?

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Wonder why the scheme is ending? Are the goverment expecting a huge dip in prices next year? :blink: What happens if you change job/move out of the public sector? Are you forced to move or pay back the loan?

I don't think it's ending. I believe they stop processing applications in November because the money has usually ran out by then. Also something to do with housebuying & completion by the end of March 06.After a certain month there is not enough time to complete the purchase within that fiscal year.I'm sure it will be up & running again from April 2006.

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The shared ownership houses seem overpriced and the idea of being liable for 100 per cent of the repairs and upkeep while only owning half a house seems plain wrong to me.

If two wage earners came to me to buy a house would I be tempted to pop a few grand on? Of course.

Is one wage earner likely to take on a debt of 70K for half a house when taking on a debt of 120K for the whole thing is just out of the question? Probably, given enough "foot on the ladder" persuasion.

Is a house worth less with a sitting tenant? Yes. Is a house worth less with a "sitting part-owner"? Absolutely.

In other words, when you buy shared ownership, all the factors conspire to make you pay more, but when you sell, those same factors conspire to lower the potential selling price. Nice. Not.

Edited by Sledgehead

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well done. I'm not exactly tempted, either. The shared ownership houses seem overpriced and the idea of being liable for 100 per cent of the repairs and upkeep while only owning half a house seems plain wrong to me. I'm in London (and not exaclty a sparkling bit) but even with a 50k interest free loan we couldn't afford a place of the size we need - we'd have grown out of it in 2-3 years (could only get a 2 bed as they only let you get a mortgage of 3x income plus the loan, despite the fact the repayments would be way lower on that than on our current rent. We have two kids of different sexes so need the sort of 3 bed terrace that would have been affordable to us had we been on current salaries back in 2001) and I really don't think prices will remain at the current level. Being in the position of forced seller in 2009 is NOT looking attractive...

Well although I think it is bad economics and a way to keep house prices high I actually don't think I would be any worse off financially, and I AM tempted just because it would give me a home and I could share the financial risk of a fall in the market , although obviously not the cost of repairs - that is a serious gip. The housing association takes 1/2 to profits generated by maintenance and improvements (or 1/2 the amelioration of risk in a falling market) but doesn't share any of the costs.

But as a non-keyworker, all I get to pick from as is second hand houses in lousy locations asking 20K premiums on the previous share purchase price. Also there is none of the 50K incentive stuff going on. Being in the position of a forced seller in a 3rd rate location selling to a tightly contained market (since you can only sell to other people who have enlisted for shared ownership) in 2009 is even less attractive.

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Well although I think it is bad economics and a way to keep house prices high I actually don't think I would be any worse off financially, and I AM tempted just because it would give me a home and I could share the financial risk of a fall in the market , although obviously not the cost of repairs - that is a serious gip. The housing association takes 1/2 to profits generated by maintenance and improvements (or 1/2 the amelioration of risk in a falling market) but doesn't share any of the costs.

But as a non-keyworker, all I get to pick from as is second hand houses in lousy locations asking 20K premiums on the previous share purchase price. Also there is none of the 50K incentive stuff going on. Being in the position of a forced seller in a 3rd rate location selling to a tightly contained market (since you can only sell to other people who have enlisted for shared ownership) in 2009 is even less attractive.

Agreed - the loan deal is slightly tempting as if we got the full 50k loan we could buy something similar to what we currently rent, but for about £125 less per month (repayment mortgage, of course). However, if I remember to take the cost of buying into account, suddenly our saving isn't looking so hot, especially since we'd be looking to move in 3 years. With shared ownership, we'd be able to get a 3 bed not a 2 and so stay there indefinitely. However, the situation isn't much different to yours in terms of choice - whoever plans keyworker or shared ownership housing seems to believe that we are too poor to have kids and so only builds studios and one bed Noddy boxes.

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  • 302 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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