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r thritis

Shared Equity Schemes

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Shared equity schemes do nothing to help the first time buyer. All they succeed in doing is to put the additional money directly into the pockets of the developers. Without these schemes, the 'first rung' will over time, naturally adjust to the affordability level of the ftb - it has to - its simple economics.

Hopefully this scheme looks like it will be too small to make any real difference.

http://news.bbc.co.uk/1/hi/business/4501334.stm

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hmmm that URL linked is interesting. Becky is stating that a first time buyers home in Swindon (where I have lived and where I work) is £160K - you can get a detached 3 bed in a good area for a bit more than that, and a 3 bed semi in a decent area for 140-150K - thats asking prices too!!!

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Thing is, there are a lot of young ignorant muppets 'youthfull individuals of a less informed demeanour') who, encouraged by the parents to 'get on the ladder' will be chomping at the bit to snap up some of this 'cheaper housing'.

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Thing is, there are a lot of young ignorant muppets 'youthfull individuals of a less informed demeanour') who, encouraged by the parents to 'get on the ladder' will be chomping at the bit to snap up some of this 'cheaper housing'.

Unfortunately, you are right - and most will pay the full asking price without question, as it's a special deal and they're lucky to get it etc etc.

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It's also the last thing that tax payers want also ........ you can see the way this thing will develop under the control freakery of Gordon Brown.

Let's start with 20,000 FTBs with 25% equity - split between Government and the Banks.

So, lets say £120k for a FTB property - then we have 20,000 x £15,000 = £300m per year as the cost to the taxpayer. Aswell as a £300m per year cost to the banks

.... but this is the thin end of the wedge. 20,000 is probably about 10% of the number of potential FTBers, so we can expect this to rise, together with a corresponding rise in the tax to fund it.

Ohh, and then we'll get into means testing and deprived areas, and before you know it the Government will be paying 25% of the cost and so the cost just rises.

And in a few years time, peoples fate will be sealed - paying too much tax, to afford to buy a home, but you can get a house because the Government will fund it - its the madness of the Socialist money-go-round.

Not only, will the Government saddle half the population with £20k's of debt from university, you will then have to get a Government funded house. You'll be in hock to the State for the rest of your life - just a wage slave for New Labour, New Socialism

Its all state control via stealth and the back door.

New Labour won't be happy until they micro-manage every part of your life from cradle to grave. State regulation, legislation, enforced equality to the lowest common denominator ....... it's b0llocks I tell you !!!!!!

And then, whose going to determine the value of the house ?

Looks like a new army of state controlled surveyors and valuers. Now, these guys are never going to reduce the valuation are they ?!!!!!! - More tax ahoy !!!!!!

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mmmmlet me see.....

im in power. i need a wheeze to make the british public think we are in a good economy, yet we have poor output and are not globally competitive.

mmm....??

i know. i will create a low IR lending bubble that will remove £100,s of thousands from the non voting young and pass that on to the older house owning generations that do vote. keeping us in power.

this will make it look like things are happening.

..at least for a while...until we can get a war going somewhere.

Edited by right_freds_dead

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hmmm that URL linked is interesting. Becky is stating that a first time buyers home in Swindon (where I have lived and where I work) is £160K - you can get a detached 3 bed in a good area for a bit more than that, and a 3 bed semi in a decent area for 140-150K - thats asking prices too!!!

I am from Swindon as well, and I would agree. Most FTB are paying around £110k for a 2 bed terrace/semi.

Infact 4 of my friends have just completed in November.

They all ranged around the £115k mark apart from one who paid £145 for a large three bed.

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I think the shared ownership will slowly die out.

The justifcation people use to buy now is that you are getting your own house/home. Throw any argument at, e.g. that renting is cheaper, and they will always return to the "your own home" argument.

Well, who would want a home where the government owns part of it? If I had to rent part of my home, I would prefer to rent it all. Or buy it all. If I couldn't buy it all, I would rent it all. Simple.

Maybe this scheme is active so it looks as though the government is doing something. in October when this is piloted things will be very different.

;)

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Unfortunately old enough to have seen all this utter tosh before.

Just another sign of the inevitable.

Why does this have to keep happening?

Well, I know really, but the muppets don't.

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I think the shared ownership will slowly die out.

The justifcation people use to buy now is that you are getting your own house/home. Throw any argument at, e.g. that renting is cheaper, and they will always return to the "your own home" argument.

Well, who would want a home where the government owns part of it? If I had to rent part of my home, I would prefer to rent it all. Or buy it all. If I couldn't buy it all, I would rent it all. Simple.

Maybe this scheme is active so it looks as though the government is doing something. in October when this is piloted things will be very different.

;)

was listening to the subject on radio 5 today and its quite clear this scheme will only be open to certain FTB's who meet the criteria, think he said mainly key-workers..

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was listening to the subject on radio 5 today and its quite clear this scheme will only be open to certain FTB's who meet the criteria, think he said mainly key-workers..

I bet they only offer it to those with no savings. The 'Labour' Brown way.

Edited by Jason

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Why not buy a house with a total stranger? It would only be for 25 or so years and at least Uncle Tony wont be able to get his filthy mitts on it. Wonder if he would share number 10 with Gordon to set a good example? Doubt it. Shove a shared equity up ya ass Tony!

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  • 301 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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