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Discussing help to buy radio five live shortly

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Sums up the UK's media:

2 minutes on national housing crisis that influences the socio-economic future of millions of people - then about 5 minutes on bloody what type of jam you would hypothetically give Bob Dylan.

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Help to those who earn the most so it seems.....

http://www.bbc.co.uk/news/uk-politics-39456770

 

Quote

 

Just over half of the people who have received taxpayers' money to help them buy a home under a government scheme did not need it, according to research.

About 4,000 households in England earning more than £100,000 annually are in the Help to Buy Equity Loan scheme.

Official figures to December 2016 show more than 20,000 households who are not first-time buyers have been helped.

 

 

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They had a similar phone in on help to buy on LBC this morning on the Matt Frei show.

One woman said her son and his wife had bought a London flat on the 40 per cent help to buy scheme. Now they were having kids and the place isn't big enough and they cannot move and so they are trapped because they can't sell it. I thought we wouldn't see those stories for a couple of years.

Another guy came on and noted how much the share prices of house builders had risen since the scheme was introduced. Even though he had done well from it - he held those shares - he still thought it was a rotten scheme which just pushed up prices.

But the presenter was all about isn't it wonderful that all these people were able to get on the ladder who otherwise couldn't have.

it still only got about 10 minutes and 4 calls - Gibraltar (such relevance to Londoners!) got more than an hour.

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3 hours ago, MARTINX9 said:

They had a similar phone in on help to buy on LBC this morning on the Matt Frei show.

One woman said her son and his wife had bought a London flat on the 40 per cent help to buy scheme. Now they were having kids and the place isn't big enough and they cannot move and so they are trapped because they can't sell it. I thought we wouldn't see those stories for a couple of years.

Another guy came on and noted how much the share prices of house builders had risen since the scheme was introduced. Even though he had done well from it - he held those shares - he still thought it was a rotten scheme which just pushed up prices.

But the presenter was all about isn't it wonderful that all these people were able to get on the ladder who otherwise couldn't have.

it still only got about 10 minutes and 4 calls - Gibraltar (such relevance to Londoners!) got more than an hour.

They upped it to 40% because those who had used the 20% were stuck?

I posted a thread about HTB on here with a response from the HCA about houses bought using the scheme and since re-sold (£1m lost on the re-sales at lower prices). I recently asked the HCA some very specific questions about London 40% scheme and re-sales. I got a couple of emails and a lengthy reply but instead of my questions answering this time, it was "After careful consideration we have concluded that the balance of the public interest favours the non-disclosure of the information requested at this time" .

 

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13 minutes ago, Democorruptcy said:

They upped it to 40% because those who had used the 20% were stuck?

I posted a thread about HTB on here with a response from the HCA about houses bought using the scheme and since re-sold (£1m lost on the re-sales at lower prices). I recently asked the HCA some very specific questions about London 40% scheme and re-sales. I got a couple of emails and a lengthy reply but instead of my questions answering this time, it was "After careful consideration we have concluded that the balance of the public interest favours the non-disclosure of the information requested at this time" .

 

So it's not in the public interest for the public to find out how much of their money has been lost?

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6 minutes ago, MARTINX9 said:

So it's not in the public interest for the public to find out how much of their money has been lost?

Not at this time, no.

I thought they were going to give me some figures because they had apologised about the delay while I was waiting. What a waste of popcorn!

 

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4 hours ago, MARTINX9 said:

They had a similar phone in on help to buy on LBC this morning on the Matt Frei show.

One woman said her son and his wife had bought a London flat on the 40 per cent help to buy scheme. Now they were having kids and the place isn't big enough and they cannot move and so they are trapped because they can't sell it. I thought we wouldn't see those stories for a couple of years.

Another guy came on and noted how much the share prices of house builders had risen since the scheme was introduced. Even though he had done well from it - he held those shares - he still thought it was a rotten scheme which just pushed up prices.

But the presenter was all about isn't it wonderful that all these people were able to get on the ladder who otherwise couldn't have.

it still only got about 10 minutes and 4 calls - Gibraltar (such relevance to Londoners!) got more than an hour.

They can sell but their deposit goes first 

I said  when it was first announced ,HTB is a shared ownership scheme of the 90`s in a different dress and the outcome would be the same as members of my own family went through in the 90`s and plenty more like them ....default was the only escape route the only difference is the taxpayer pays any short fall 

 

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Lot of reporting around this. I think perhaps they're about to seriously change the Help to Buy Equity Loans scheme, perhaps as prologue to ending it, just as the mortgage guarantee scheme has ended.

Quote

“So I will look to ensure Help to Buy equity loans are only used to support new-build houses on acceptable terms.

“This will send a serious message to the building industry: if you want the government to help you build and sell homes, you have to sell them on fair terms. And that’s what all this is ultimately about – helping people find homes,” he added.

The Department for Communities and Local Government has not yet confirmed to Mortgage Solutions what the acceptable terms will be.

Source: Help to Buy equity loans to be restricted, Mortgage Solutions, 29 March 2017.

This was the same speech where Javid described some of the builders' practices around leasehold as "practically feudal" so certainly reads like a carefully coordinate series of moves to show how HTB has been great (because all government policies are great, obviously) but now needs to be amended slightly (read that as killed stone dead) because some of the builders acted in bad faith.

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6 hours ago, Democorruptcy said:

They upped it to 40% because those who had used the 20% were stuck?

I posted a thread about HTB on here with a response from the HCA about houses bought using the scheme and since re-sold (£1m lost on the re-sales at lower prices). I recently asked the HCA some very specific questions about London 40% scheme and re-sales. I got a couple of emails and a lengthy reply but instead of my questions answering this time, it was "After careful consideration we have concluded that the balance of the public interest favours the non-disclosure of the information requested at this time" .

 

Send the response to private eye and get them on the case.

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