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ganymede

Gordons At It Again

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Not seen this detail posted before but I guess it comes as no surprise that GB will flashing our cash again.

Gordon Brown is pressing ahead with shared ownership in spite of the fact that it will cause a huge drain on the public purse. The Government is proposing that first time buyers be encouraged to purchase 75 per cent of a property, 12.5 per cent being bought by a building society and the final 12.5 per cent by the Government. When the property is sold, all sides take equivalent shares of the proceeds.

The Government has agreed that its own share will be the first to go should the property market fall. In effect taxpayers will be taking a speculative punt on the market. But volumes will be low: over the next five years only 4,000 first time buyers per annum will be able to take advantage of the scheme.

not sure if the link will work. Found it in the news section at nethousepirices

http://portal.telegraph.co.uk/property/mai...14/ixpmain.html

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Cor, will he do Ferraris next. I really really need one.

I forgot, houses only ever go up.

Some Ferraris might.

So now the Government has another little VI in permanent HPI.

Edited by Mushroom

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It will be interesting to see if when you came to sell the house, if you need to have it valued by the government in order to get fair market value. - Otherwise you will be able to price 12.5% lower then the rest of the street in order to sell, an instant 12.5% drop that would show up in the HPI indexes, but not your pocket!! :lol:

Of course the government might demand a high price, reducing the chance of a sale and trapping any buyers, until they can chase the market down to a sellable level.

Edited by kinesin

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Not seen this detail posted before but I guess it comes as no surprise that GB will flashing our cash again.

Gordon Brown is pressing ahead with shared ownership in spite of the fact that it will cause a huge drain on the public purse. The Government is proposing that first time buyers be encouraged to purchase 75 per cent of a property, 12.5 per cent being bought by a building society and the final 12.5 per cent by the Government. When the property is sold, all sides take equivalent shares of the proceeds.

The Government has agreed that its own share will be the first to go should the property market fall. In effect taxpayers will be taking a speculative punt on the market. But volumes will be low: over the next five years only 4,000 first time buyers per annum will be able to take advantage of the scheme.

not sure if the link will work. Found it in the news section at nethousepirices

http://portal.telegraph.co.uk/property/mai...14/ixpmain.html

Hi,

The guy has gone absolutley bonkers. Whenever governments try to meddle with these kind of incentives, it always distorts the market even further. What the hell is a "socialist" chancellor doing anyway subsidising property speculation? If he's into subsidising ailing markets, why didn't he flash some tax payers money at Rover when it went tits up? He needs to be stopped before we end up with another 'winter of discontent' and

a begging bowl thrust in the direction of the IMF again. Dear oh dear! Is he sleeping with property guru or something?

Boomer

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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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