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ItalianV6

Will Htb Be Removed?

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I can't recall seeing this mentioned anywhere.

However there are certainly mumblings that the government are looking to focus their resources on properties to rent, rather than ownership.

Therefore a logical conclusion is that they will start to pull away/remove HTB funding. This would have an even more dramatic impact on the slowing of demand/sales.

Thoughts?

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One is willing to be surprised but so far there's not been much evidence of other than a continuation of Dave and George's policies in the Downing Street. A downing of responsible people and an upping of the spendthrift - as if Dave and George still resided there with quite a few visits from the previous NuLabour crazies as well (not to forget Clegg and his lot).

Time moves on and pretty rapidly. There's only about 3.5 years at most to the next general election (with local and eu elections before that as well) so If they do away with HtB and house prices firmly collapse (prices collapsing ultimately being a good thing for Britain) what will they blame it on - the Brexit vote? - and will they risk possible consequential loss of votes. Would the electorate recognise the benefit of doing away with the dodgy policy.

It might just start to reap an overall benefit for the economy just before the general election.

Edited by billybong

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Which HTB scheme?

Part I re newbuilds, Part II re all property (and it's illegitimate child 40% for London property), the HTB ISA...?

Part II is due to expire at the end of the year as things currently stand.

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I think they will keep H2B for New Builds, as the Developers are looking like they are in for a tough 2017 with the combination of over supply and Brexit - particularly with the close relationship between the Tories and the Developers.

On non new build H2B, I think they will drop it, the general media are quite negative about it and I think May wants a clear break from the previous regime and this is a handy way to do it. I think the Tories will be quite comfortable with a bit of a crash as long as the Banks are okay (which they will be now) and they are not blamed for it.

Brexit is a great cover for them in this regard - as any crash can be blamed on Brexit and then sold as a good thing for the younger generation of FTBs.

So think they will let it end on schedule - same as the 118 crowd of LLs, the policitical mood has changed somewhat and don't think it supports H2B and private LLs in the way it once did.

(They would be dumb not to, H2B is difficult if not impossible to end once it's started, so now is about the only opportunity they have)

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HTB didnt push up prices it was used in combination with the low mortgage rate backed FLS did.

We now have a BoE man who has printed £170B and forced mortgage lenders to drop rates to allow them access to it.

THEY will not stop until a collapse happens.

I have no idea if this is deliberate, criminally insane or just some bunch of deluded c*nts hell bent on proving they are right.

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I noticed that some EA's in my area are using HTB to advertise new builds in a deceptive way i.e. with the price at the price the buyer contributes.

They need to read the full advertisement to twig what the actual price is.

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Probably not.

CityAM were pushing this story alongside an 8 page special on Shared Ownership Schemes in London.

http://www.cityam.com/237048/mipim-former-england-football-captain-rio-ferdinand-and-housing-minister-brandon-lewis-team-up-to-build-thousands-of-affordable-homes-through-new-charity-legacy

I guess there's still money to be made in the property bubble yet :(

Couldn't find today's puff-piece in CityAM , but not unlike this link below from a previous edition. They seem to have regular articles about the merits of paying a large wad of your savings / taking on debt / renting your gaff , for the pleasure of saying to your peers that "I won a flat in London".

http://www.cityam.com/225864/shared-ownership-week-so-what-it-anyway

How bizarre...

Edited by Agentimmo

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.

I have no idea if this is deliberate, criminally insane or just some bunch of deluded c*nts hell bent on proving they are right.

+1

To say the least.

Edited by billybong

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I will raise you a 12 page special on Shared Ownership in the Evening Standard tonight....

Seems like the strategy to sell the glut of new build London rabbit hutches is now -

  • Shared Ownership
  • Sell to corporate PRS
  • Sell to Housing Associations

None of these will deliver the profit the developers envisaged when they thought that Asian 'investors' would last forever.

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I agree with 'The Count'...including the expletives!

If they drop HtB for non-new builds this will then impact on the price of new builds...developers will then land bank as much as possible (within cash flow allowances) because they can without cost implications as they want to maximize product price.

The whole Ponzi relies on 'affordability'..you stop FLS and the banks will have to start charging serious (read market) rates.

Stop both and mortgages will be both more expensive to service and more sparingly available as 'risky' borrowers will be avoided.

Result of all the above?....stagnation of the market until.....TSHTF....interest/mortgage rates go up....people lose work....forced sales....CRASH (correction).

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