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Help To Buy Resale


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HOLA441
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HOLA442
49 minutes ago, TheCountOfNowhere said:

Help to buy 1 ( for new builds ) has been about for a while now and I was just wondering if anyone had come across anyone who'd tried to sell their massive over-priced new build ?

They might get a shock when their £500K HTB priced flat is only worth £250K.

I got a shock when I found out how few had been sold at a loss:

 

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HOLA443

How many of the houses sold, were sold at a profit, based on the previous sold price?
3,509 of the 4,051 properties were sold for a profit, based on the previous sale price.

 

That's quite something.  I'd expect they were sitting on massive losses !!!!

 

I wonder how much was the London effect

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HOLA444
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HOLA445
1 hour ago, TheCountOfNowhere said:

Help to buy 1 ( for new builds ) has been about for a while now and I was just wondering if anyone had come across anyone who'd tried to sell their massive over-priced new build ?

They might get a shock when their £500K HTB priced flat is only worth £250K.

I've been wondering that too - but more about HTB3 (the London 40% one). That always felt like a double-whammy on the re-sale side. Firstly, if HTB only applied to new-builds and the only way people could afford them in the UK was with a government handout - who would you sell to? The flat would no-longer be new-build so potential buyers wouldn't be able to get state aid. The second whammy is of course that the one potential group of buyers with the budgets to pay those figures is the much talked about Asian investor - but I've read several articles where it says thay only like to buy new flats - and once again, if you're trying to sell you're flat it's no longer new.

In fact I've wondered that about all the flats the Asian investors bought - who do they hope to sell to to actually realise their profits?

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HOLA446
20 minutes ago, Democorruptcy said:

I posted an update to that thread that didn't make sense based on the previous figures. At that time I asked for a breakdown between the 20% and 40% schemes. They told me not one 40% house had yet been re-sold.

That's HTB2 ?

 

 

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HOLA447
19 minutes ago, TheCountOfNowhere said:

That's HTB2 ?

 

 

No.

HTB2 was on existing houses but has since been stopped. The 40% London scheme was for new builds, when the 20% scheme had pushed prices up so much that 20% wasn't enough debt to ignore.

Are you going to do a FOI request for their latest figures and see if you get better ones than my last try?

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