Bruce Banner Posted August 4, 2017 Share Posted August 4, 2017 Steady on, I like Forest Gump. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 4, 2017 Share Posted August 4, 2017 2 hours ago, juice05 said: Story doing it's round. Home building stocks down 4%. Unfortunately have to register to view which I can't do right now... "The government has embarked on a review of the Help to Buy housing scheme, which could result in it being wound down or replaced before its scheduled end in April 2021...." http://m.propertyweek.com/5090767.article?mobilesite=enabled Now being reported on BBC News Business. Apparently it's knocked the builders' share prices, particularly Taylor Wimpey, for six. Quote Link to comment Share on other sites More sharing options...
Option5 Posted August 4, 2017 Share Posted August 4, 2017 From the FT https://www.ft.com/content/c807ea4d-c41b-3a31-b90c-72da45d53cf8 The Department for Communities and Local Government has said it is committed to continuing the Help to Buy equity loan scheme for homebuyers until at least 2021, after a report suggested it could be scrapped early. Homebuilders’ shares dropped sharply Friday morning after Property Week reported a review of the scheme might result in its ending ahead of schedule. But the DCLG said: “As we said in our Housing White Paper, we have committed £8.6 billion for the Help to Buy Equity Loan Scheme to 2021, ensuring it continues to support homebuyers and stimulate housing supply. “The government also recognise the need to create certainty for prospective home owners and developers beyond 2021, so will work with the sector to consider the future of the scheme.” A person close to the scheme said any implication it would end early was “simply incorrect”. An executive at a major housebuilder said: “It’s a positive if anything, that they are thinking about what happens post 2021 and working with industry on what post 2021 looks like. ” The scheme, which enables homebuyers to purchase newly built homes with a deposit of only 5 per cent, is currently scheduled to end in April 2021. Since its launch in 2013 it has aided more than 120,000 home purchases but has proved controversial because of its contribution to profits and dividend payouts at listed housebuilders. Quote Link to comment Share on other sites More sharing options...
Habitationi Bulla Posted August 4, 2017 Share Posted August 4, 2017 But to do this itd take a little backbone and May has absolutely none of that, seem Hammond who was Gidiots sidekick when this policy was announced has more control than her. I remember when Blair came into power, he literally changed as much as he possibly could as quickly as he could and managed to create a feel good factor. Cameron and May have been so utterly stunned at getting a job way beyond their ability they've ended up doing sweet FA and have shown zero courage to make their zero conviction. Quote Link to comment Share on other sites More sharing options...
Habitationi Bulla Posted August 4, 2017 Share Posted August 4, 2017 *match their zero conviction. Quote Link to comment Share on other sites More sharing options...
Mr Banks Posted August 4, 2017 Share Posted August 4, 2017 Come on do you think the government are about to be removing props. Next you will be telling me interest rates are going up. Amazed people believe this stuff. Quote Link to comment Share on other sites More sharing options...
Habitationi Bulla Posted August 4, 2017 Share Posted August 4, 2017 21 minutes ago, Mr Banks said: Come on do you think the government are about to be removing props. Next you will be telling me interest rates are going up. Amazed people believe this stuff. Exactly that theyve got their Surrey middle class core voters to look out for, the lack the wit, conviction or basic decency to allow the free markets to work. And for being a Keynesian Blairite prty they will lose the next election. Quote Link to comment Share on other sites More sharing options...
juice05 Posted August 4, 2017 Author Share Posted August 4, 2017 Actually 9 minutes ago, Habitationi Bulla said: Exactly that theyve got their Surrey middle class core voters to look out for, the lack the wit, conviction or basic decency to allow the free markets to work. And for being a Keynesian Blairite prty they will lose the next election. Actually telling people it will end soon is a way to kick people into 'making use' of htb which would spir up transactions. We saw this as the end of the last stamp duty holiday Quote Link to comment Share on other sites More sharing options...
Wayward Posted August 4, 2017 Share Posted August 4, 2017 £8.6 billion of tax payers money for a cynical scheme solely designed to inflate the cost of housing...why are folks so docile? Quote Link to comment Share on other sites More sharing options...
Si1 Posted August 4, 2017 Share Posted August 4, 2017 26 minutes ago, Habitationi Bulla said: Exactly that theyve got their Surrey middle class core voters to look out for, the lack the wit, conviction or basic decency to allow the free markets to work. And for being a Keynesian Blairite prty they will lose the next election. I think this is probably true. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted August 4, 2017 Share Posted August 4, 2017 I don't really want FTB going after the housing stock I'm after. i would not touch new builds, and they have been channeled into that. if it brings prices down then cool. But I suspect I will have more competition for quality houses now. Quote Link to comment Share on other sites More sharing options...
Kosmin Posted August 4, 2017 Share Posted August 4, 2017 2 hours ago, Bruce Banner said: He said recently that he will be staying until his daughter finishes school. Time to sack the banker, methinks. Maybe try get his daughter expelled instead. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted August 4, 2017 Share Posted August 4, 2017 1 hour ago, jiltedjen said: I don't really want FTB going after the housing stock I'm after. i would not touch new builds, and they have been channeled into that. if it brings prices down then cool. But I suspect I will have more competition for quality houses now. I know of people with bad credit records unable to secure a mortgage on a non-new build getting a larger mortgage using Help to Buy Bail Banks. That's reduced your competition but the scheme has pushed up prices overall. The ridiculously high new build prices made other houses look "cheap" by comparison. Since it started I've always suggested I don't think it can end overnight. It can only be tapered down over years or they would crash the whole market. Quote Link to comment Share on other sites More sharing options...
ThePrufeshanul Posted August 4, 2017 Share Posted August 4, 2017 Was shocked to read this story as it made no sense to me. if things continue as they are the Tories lose the next election as they only get a third of the votes of non-home owners whilst homeowners split their votes much more evenly. Thats why they have identified housing as their number one priority. it would therefore make zero sense for them to end HTB early thereby kicking FTB's, construction companies and most of all the banks squarely in the balls. Quote Link to comment Share on other sites More sharing options...
winkie Posted August 4, 2017 Share Posted August 4, 2017 Only one way to help to buy....that is to reduce prices, reduce debt......and they know it. Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted August 4, 2017 Share Posted August 4, 2017 6 hours ago, Option5 said: From the FT https://www.ft.com/content/c807ea4d-c41b-3a31-b90c-72da45d53cf8 The Department for Communities and Local Government has said it is committed to continuing the Help to Buy equity loan scheme for homebuyers until at least 2021, after a report suggested it could be scrapped early. Homebuilders’ shares dropped sharply Friday morning after Property Week reported a review of the scheme might result in its ending ahead of schedule. But the DCLG said: “As we said in our Housing White Paper, we have committed £8.6 billion for the Help to Buy Equity Loan Scheme to 2021, ensuring it continues to support homebuyers and stimulate housing supply. “The government also recognise the need to create certainty for prospective home owners and developers beyond 2021, so will work with the sector to consider the future of the scheme.” A person close to the scheme said any implication it would end early was “simply incorrect”. An executive at a major housebuilder said: “It’s a positive if anything, that they are thinking about what happens post 2021 and working with industry on what post 2021 looks like. ” The scheme, which enables homebuyers to purchase newly built homes with a deposit of only 5 per cent, is currently scheduled to end in April 2021. Since its launch in 2013 it has aided more than 120,000 home purchases but has proved controversial because of its contribution to profits and dividend payouts at listed housebuilders. Gotta love how one whiff of Tory party donors losing market cap and they double down on the Help to Buy madness. Wonder if the Property Week journalist responsible had a hedge fund cousin with a major short position in Taylor Wimpey... Quote Link to comment Share on other sites More sharing options...
mathschoc Posted August 4, 2017 Share Posted August 4, 2017 Basically the govt has said they will not take away the life support of the housing market, yet. Quote Link to comment Share on other sites More sharing options...
Habitationi Bulla Posted August 4, 2017 Share Posted August 4, 2017 2 hours ago, ThePrufeshanul said: Was shocked to read this story as it made no sense to me. if things continue as they are the Tories lose the next election as they only get a third of the votes of non-home owners whilst homeowners split their votes much more evenly. Thats why they have identified housing as their number one priority. it would therefore make zero sense for them to end HTB early thereby kicking FTB's, construction companies and most of all the banks squarely in the balls. It will mean prices fall so people dont have to take on the extra 20% of debt to gift to developers as a nice Brucey bonus, your comment is as idiotic as Help to Buy itself.. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 4, 2017 Share Posted August 4, 2017 (edited) 2 hours ago, ThePrufeshanul said: Was shocked to read this story as it made no sense to me. if things continue as they are the Tories lose the next election as they only get a third of the votes of non-home owners whilst homeowners split their votes much more evenly. Thats why they have identified housing as their number one priority. it would therefore make zero sense for them to end HTB early thereby kicking FTB's, construction companies and most of all the banks squarely in the balls. It would make perfect sense for them to end HTB early and the sooner the better! HTB, combined with FLS and TFS (which has just been increased by a further £15bn) have continued to inflate the house price bubble that has priced out a generation. Edited August 4, 2017 by Bruce Banner Quote Link to comment Share on other sites More sharing options...
Habitationi Bulla Posted August 4, 2017 Share Posted August 4, 2017 12 minutes ago, mathschoc said: Basically the govt has said they will not take away the life support of the housing market, yet. Somethings seemingly happening as when the govt made their statement the shre prices of big builders didnt rebound. Can see it being altered. Quote Link to comment Share on other sites More sharing options...
ThePrufeshanul Posted August 4, 2017 Share Posted August 4, 2017 The obvious point that both of you have missed is that I don't agree with what the Tory party are doing but it makes sense for them to do it to improve their electoral chances and that's why they have been doing it for so many years - it's why they continues to state their support for it and it's why they slammed into reverse gear pretty *****ing quickly when it was suggested today that it was going to end. The latter point - as I wrote - came as no surprise whatsoever, well not to me anyway. Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted August 4, 2017 Share Posted August 4, 2017 (edited) 9 hours ago, moonriver said: I think they read somewhere these have not had a big uptake due to ether being too complicated or not many banks offerring them. But even if that is right, they must of been introduced as yet another prop to housing. Only the Skipton offers a cash lifetime isa - with a couple of providers offering equity ones. That has had a much slower take up. It offers a £1k bonus for every £4k invested annually up to age 50 but can only be withdrawn before age 60 to buy a first property up to £450k UK wide as otherwise you are hit with a 25% penalty. Its also ageist - 39 year olds can open one but not 40 year olds. So clearly the government doesnt want the votes of non homeonwers over 40! The help to buy isa has been popular - pretty much every bank and building society offers one. However it takes longer to build up the bonus - it takes you five years of maximum saving to claim the maximum £3000 although you could get £400 after 3 months. Its also very bureaucratic - you can only claim in a small window post completion, is limited to £250k properties outside London and £450k ones in London (and that includes for shared ownership not the share you buy but the total price) and your solicitor takes £50 of your bonus for processing it. Get the admin wrong or pick a non registered solicitor - and you won't get the bonus at all. It is ridiculously complicated - for a scheme designed for first timers. Edited August 4, 2017 by MARTINX9 Quote Link to comment Share on other sites More sharing options...
phoey1 Posted August 4, 2017 Share Posted August 4, 2017 I would worry what scheme they will replace it with. Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted August 4, 2017 Share Posted August 4, 2017 It's a pretty terrible scheme, but I find it hard to believe that it has had ZERO effect on housebuilding levels. The Help to Buy on existing stock (now ended) was SO much worse. Quote Link to comment Share on other sites More sharing options...
Si1 Posted August 4, 2017 Share Posted August 4, 2017 Osborne's HTB schemes rather remind me of Brown's vote-buying by hosing the public sector with money up until the late 2000s. Ultimately the combination of money and political will, will be lacking, and it will over shoot to the other side. One day. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.