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ReluctantMover

Disparity Between Claims Re Help To Buy

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George Osborne tweets on 10 March

https://twitter.com/George_Osborne/status/707892738042232832

"Almost half a million people helped by all our @HelptoBuy schemes - transforming generation rent into generation buy"

Almost simultaneously, the @helptobuy twiiter account tweets

https://twitter.com/helptobuy/status/707963953482240001

"Over 150,000 people have been helped to buy a home using Help to Buy https://www.helptobuy.gov.uk/ #OwnYourHome "

So, is it 'over 150,000' or is it 'almost half a million'?

Or is it a case of what is 350,000 between friends?

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>>transforming generation rent into generation buy

on the back of generations that can't ever pay. how these people get into positions of power is completely baffling and it has nothing to do with my vote

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Whichever way they sell HTB all I can see is that it's turned people with a 5% deposit into technically a 25% one and an increase in house prices of 30%. For someone like me who will soon have £120k in the bank and not hoping to take on any debt including these liar loan mortgages it's frustrating. Instead of buying in my adopted home (2 bed house in Tamworth is £170K ffs) I'm either going to spend that over the next decade or wait until the right girl comes along and wants to enter mortgage slavery on my behalf (I bet I'm attractive with money in the bank ha).

I loathe these props.

Edited by longtomsilver

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George Osborne tweets on 10 March

https://twitter.com/George_Osborne/status/707892738042232832

"Almost half a million people helped by all our @HelptoBuy schemes - transforming generation rent into generation buy"

Osbanker praising Help to Buy Bail Banks just before the budget.

Tweaks he still has up his sleeve.... up it to 40% nationwide instead of just London? Equity loan added to existing houses instead of just new builds?

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Osbanker praising Help to Buy Bail Banks just before the budget.

Tweaks he still has up his sleeve.... up it to 40% nationwide instead of just London? Equity loan added to existing houses instead of just new builds?

Those OBR household debt projections... something's coming, you can almost guarantee it. :ph34r:

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Presumably the half a million helped refers to those opening the HTB savings account?

Could be. I have one, but I ain't not never gonna be spending it on a new build. I'm there for the 4%, and I bet many others are too.

N.B. I was never asked to provide proof that I was an FTB when opening the account.

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Osbanker praising Help to Buy Bail Banks just before the budget.

Tweaks he still has up his sleeve.... up it to 40% nationwide instead of just London? Equity loan added to existing houses instead of just new builds?

I thought we had that already ?

Proper gifted deposit`s next -we already have it to an extent with the HTB ISA.....Gidiot needs a quick fix the ISA is all but useless until 2018-19

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Could be. I have one, but I ain't not never gonna be spending it on a new build. I'm there for the 4%, and I bet many others are too.

N.B. I was never asked to provide proof that I was an FTB when opening the account.

Er, then how are you going to get your 4%, Eddie?

"Will I get interest on my government bonus?

No. Your government bonus won’t be paid into your account. When you purchase your home, your solicitor or conveyancer will apply for your bonus. Once they receive the bonus, they will transfer it to the seller with any other money you are putting towards your new home."

https://www.helptobuy.gov.uk/help-to-buy-isa/faq/

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Er, then how are you going to get your 4%, Eddie?

"Will I get interest on my government bonus?

No. Your government bonus won’t be paid into your account. When you purchase your home, your solicitor or conveyancer will apply for your bonus. Once they receive the bonus, they will transfer it to the seller with any other money you are putting towards your new home."

https://www.helptobuy.gov.uk/help-to-buy-isa/faq/

That's only the bonus (HTB "free" money). You still get the interest on what you've paid in.

If you decide not to buy your first home (or to buy one costing more than the qualifying amount) you don't lose the money. You can take money out of a Help to Buy ISA whenever you want – you just miss out on the bonus. It'll still be tax-free and you'll still get the interest you're due.

http://www.moneysavingexpert.com/savings/help-to-buy-ISA

Edited by Eddie_George

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I thought we had that already ?

Proper gifted deposit`s next -we already have it to an extent with the HTB ISA.....Gidiot needs a quick fix the ISA is all but useless until 2018-19

I thought the equity loan was on new builds i.e. 75% mortgage + 20% loan but on existing houses a 95% mortgage was needed with a guarantee for the bank if it went pear shaped. Apologies if this isn't now the case and I've missed a tweak that's happened already.

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Oh, you're laughing, then, provided they don't find out you're not a FTB before you collect the cash. The rate is certainly better than normal cash ISA's, isn't it?

Just to be clear, I am an FTB.

But God knows how many people are taking advantage of the system. So I'd take the official figures with a pinch of salt with regard to those actually following through to claim the bonus.

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