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Corruption

Todays Prop Is Rent To Buy

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Just when you thought this crony capitalist/ socialist govt couldnt come out with any more ideas to give to big builders and "Housing Associations" they find 400 million down the back of the sofa for "Rent to buy".

http://www.telegraph.co.uk/property/11122090/Rent-to-Buy-to-help-people-to-build-up-a-deposit.html

Edited by Corruption

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"Tens of thousands of young people will be able to rent new homes at below-market rates with the opportunity to buy them at the end of their tenancy, Eric Pickles will announce this weekend."

They mean a price that is approaching the true market rate if it was unaffected by a dozen or so acts of government interference.

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'Rent to Buy' to help people to build up a deposit New £400million government scheme to encourage new house building for lower income households.

Ye Gods, not more "help"............ Roll on the election,

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Apparently these are tenancies with a discounted rent with an option to buy/part buy at the end of it. Doesn't it just shunt tenants/potential buyers around so some organisations will benefit from it but some will lose.

Presumably those organisations/housing associations within the scheme (government chums) will be subsidised by the government. Some tenants will be lucky and it could be open to all sorts of jiggery-pokery but that seems to the branches of the LibLabCon for you these days.

So it's just another election bribe and yet another bailout.

Of course if there's plenty of new tenants arriving from overseas then it also helps to prop their market up generally. That's where UKIP could come in.

It's a shame that all that effort and money couldn't go into rebalancing the economy to create more real jobs etc.

Edited by billybong

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Isn't that almost an interest only mortgage?

Without the stamp duty and maintenance however.

Before, I get excited about this, I'd like to see the small print. On the face of it, it does look like a good deal for renters looking for a secure 7 year tenancy.

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so who gets this largesse ?

only the young, only the FTB? only the low-incomed

so subsidised rent, then buy (at a discounted price?) or the full 100% market value - sounds a bit like right to buy

and when these 'affordable homes' are rented/sold how are they going to be replaced after 7 years for another lot of 'the young'

smacks of desperation :wacko:

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So how comes these people know they can planning permission so easily yet a prole such as myself who'd pay some real money for a building permit isnt allowed.

The Tory party really are the party of the crony capitalist.

Edited by Corruption

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So-called "affordable" rent-to-buy being refired in the House of Commons by a backbench Tory MP.   The efforts at propping up HPI never end!

Quote

A Bill to make provision for affordable home ownership; to require the inclusion of rent to buy homes in the definition of affordable housing; to make provision for a minimum proportion of new affordable housing to be available on affordable rent to buy terms; to provide relief from stamp duty when an affordable rent to buy home is purchased; and for connected purposes.

 

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1 hour ago, Will! said:

So-called "affordable" rent-to-buy being refired in the House of Commons by a backbench Tory MP.   The efforts at propping up HPI never end!

Seems a great guy. Definitely concerned about affordabilty, not just chanelling social investment and Government guarantees into private profits:

https://en.wikipedia.org/wiki/Christopher_Chope

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6 hours ago, dpg50000 said:

Wow. What an absolute c**t.

yes shocking...he's 70 and hopefully he will retire soon and his evil influence wane.

These 'help' initiatives are one of many factors undermining faith in politics and government..anyone only moderately well informed can see them for what they are.  Rarely have the British people been subjected to such cynical treatment...

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The guy who sold off all the council housing wants to help prop up builders' profits, what a surprise. 

If you look at his voting record, he's the exact opposite of a human being. 

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23 hours ago, guest_northshore said:

Seems a great guy. Definitely concerned about affordabilty, not just chanelling social investment and Government guarantees into private profits:

https://en.wikipedia.org/wiki/Christopher_Chope

Chope came under fire in January 2013 for referring to some staff in the House of Commons as "servants". Parallels were drawn between this opinion and his views on the minimum wage.......

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

Politicians should remember that for jobless people, low pay is better than no pay,

 

mm a wonderful human being

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Incredible. But many of the expenses scandal MPs lost their seats. Some were prosecuted for fraud.

Why did the people of Christchurch re-elect him in 2010? They are the real cunty people because they have handed him his power.

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8 minutes ago, mrtickle said:

Incredible. But many of the expenses scandal MPs lost their seats. Some were prosecuted for fraud.

Why did the people of Christchurch re-elect him in 2010? They are the real cunty people because they have handed him his power.

Maybe the Christchurch economy is mainly sofa repairs.

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7 minutes ago, Maynardgravy said:

Maybe the Christchurch economy is mainly sofa repairs.

From what I could see it's selling wasteland as retirement flats and old fishermen's shacks as beach huts.

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