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keeprenting

Help to "Buy" (Sell) to be pumped up

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22 minutes ago, rantnrave said:

I thought HTB was limited by a time period (2021), not a cash amount?

Cant help thinking Osborne would have better grasped the challenge the Tories are facing (a mess he helped create admittedly) and come up with something much more targeted and effective at winning FTB votes.

Arent we also due the bleatings from the muppets who first took out Help to Buy in 2013 and now realise they have two mortgages to pay off on their cruddy newbuild and werent infact helped at all.

When those bleatings arrive, can we amplify them to put off future HTBers? I don't know quite how but feel there must be some way of getting the message of impending asset bursting negative equity to potential HTBers now.

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7 hours ago, adarmo said:

Not really. 

Their track record of holding power is the best in the world. 

Underestimate away.

Cons are slightly ahead of Lab in being in power.

The Cons run from 79-97 was cancelled out by Labs run 97-2010.

Both parties face the same problem - the tribal votes have halved, so they are trying to grab a larger floating/undecided vote.

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34 minutes ago, rantnrave said:

I thought HTB was limited by a time period (2021), not a cash amount?

Cant help thinking Osborne would have better grasped the challenge the Tories are facing (a mess he helped create admittedly) and come up with something much more targeted and effective at winning FTB votes.

Arent we also due the bleatings from the muppets who first took out Help to Buy in 2013 and now realise they have two mortgages to pay off on their cruddy newbuild and werent infact helped at all.

Indeed, so far I've not seen any fundamental change to how it works mentioned. I wasn't aware that it was about to run out of time/money until 2021, so this announcement really only applies after then. Whatever happens in the next 4 years will happen regardless. It might change sentiment, but they're not pulling back on Section 28/Letting Fees which is good.

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7 hours ago, Freezer? Best place for it said:

May, and the Tory Party are toast.  They might as well fold now, as the Labour Party can take the blame for the forthcoming recession, and cods of Brexit.  The Labour Party can have one go, and Joe will vote those nice new people in once May is forgotten.

Maybe Labour are toast too.

I still side with the people who thought that Corbyn would ruin the Labour party. He wiill.

He's popular as hes promising everything. He';s no offering anything novel - his playbook is pure Venezuela but without the Oil.

If I was a centrist Labour MP then Id walk. Not sure were Id walk to though.

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Or maybe this new injection is too late to delay the HPC. Perhaps it could even actually assist FTBs to get a house once prices have fallen and the market has rebalanced away from the boomers. 

We all know that since the introduction of fresh impetus in 2013 prices are up, what, 40%? Population didn't grow 40%, nor did wages grow 40% nor did houses get 40% bigger.

With potential borrowing cost increases, props falling away (err maybe), BTL changes, MMR and houses bubbled to huge earnings multiples... maybe there will be less HTB uptake until HPC gets into a downward spiral.

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45 minutes ago, rantnrave said:

I thought HTB was limited by a time period (2021), not a cash amount?

Cant help thinking Osborne would have better grasped the challenge the Tories are facing (a mess he helped create admittedly) and come up with something much more targeted and effective at winning FTB votes.

Arent we also due the bleatings from the muppets who first took out Help to Buy in 2013 and now realise they have two mortgages to pay off on their cruddy newbuild and werent infact helped at all.

It is.

I looked at the sums.

It makes that naive assumption that people buying will see their income rise at a fair clip to take on the extra cost that lands in 5 years.

I know one couple who've done HTB. SHes a teachers, hes a n EA (dont laugh). Her income has falen as shes had a nextra kid, His has halved.

 

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8 hours ago, adarmo said:

Agree with you on the new build buyers. They are fodder.

With respect to your views on 'her'. It was not her or her govt. that introduced tuition fees (nor encouraged a fecundity of f***witts to attend uni, not her or her govt. that initially trebled said fees. 

Let's just all remember who it was and what party that introduced them. 

Spot on. Get onto comments on Guardian and you'll routinely see Thatcher being blamed for the work of Blair and Brown. Collective amnesia.

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8 hours ago, adarmo said:

Why wouldn't you just get another job?

I would have to start at the bottom of the pay ladder for another job, I have mouths to feed. 

I am actually better off going on benefits than working.

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Just now, suresh786 said:

Whats MMR

The BoE rules on mortgage lending.

Basically they stress test for 6% and ensure that the mortgage will not take more than ~30% of household income - after reapting expenses have been removed - cars, utils, travel cost etc.

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When Osborne brought in help to buy, just as prices were starting to drop, was when it fully clicked with me. The government would do anything, we'll beyond ultra loose monetary policy to maintain house prices. We had the hypocrisy of local services shut while billions was used to subsidise greedy developers. For any opposition party it is electoralyl difficult to criticise as you will be painted as being someone who doesn't want ordinary people to own a home, the same criticism thrown at those who opposed council house right to buy. I've even heard people complaining it isn't available on non new builds, just so the taxpayer will be directly subsidising owner occupier property gains too. 

Unfortunately  the policy is popular, people see it as helping them get something they couldn't otherwise afford(which should be Britain's motto really).  It's a win win for the government, passiffying first time buyers, keeping the market moving while artificially propping up prices at the same time. 

 

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3 minutes ago, nothernsoul said:

When Osborne brought in help to buy, just as prices were starting to drop, was when it fully clicked with me. The government would do anything, we'll beyond ultra loose monetary policy to maintain house prices. We had the hypocrisy of local services shut while billions was used to subsidise greedy developers. For any opposition party it is electoralyl difficult to criticise as you will be painted as being someone who doesn't want ordinary people to own a home, the same criticism thrown at those who opposed council house right to buy. I've even heard people complaining it isn't available on non new builds, just so the taxpayer will be directly subsidising owner occupier property gains too. 

Unfortunately  the policy is popular, people see it as helping them get something they couldn't otherwise afford(which should be Britain's motto really).  It's a win win for the government, passiffying first time buyers, keeping the market moving while artificially propping up prices at the same time. 

 

.....Further education can't afford, homes can't afford, new cars can't afford.....even your employer can't afford to pay you without HELP!

 

 

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It's sadly just one more example of how far down the political system has descended. HTB was a controversial policy when it was introduced and GO was warned that all it would do would be to put prices up - which it has.

Will this proposed change make much difference? I wonder; I think we are in for turbulent times over an extended period and the further corruption of the housing market is a relatively minor issue.

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1 hour ago, spyguy said:

If I was a centrist Labour MP then Id walk. Not sure were Id walk to though.

I don't think you would, even if there were a smaller party to walk to. The priority is power ... then influence on policy; and that has some logic: better to be in government with a party you have problems with, but can hope to do something about, than on the sidelines in oppositon; and both are much better than the irrelevance of a small party that will never hold power. As for falling out of the warm nest by losing your seat ... that doesn't bear thinking about.

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1 hour ago, spyguy said:

Maybe Labour are toast too.

I still side with the people who thought that Corbyn would ruin the Labour party. He wiill.

He's popular as hes promising everything. He';s no offering anything novel - his playbook is pure Venezuela but without the Oil.

If I was a centrist Labour MP then Id walk. Not sure were Id walk to though.

They just found the oil under Gatwick airport.. ?

i love the re nationalisation! As a country the government needs a constant revenue stream, British Gas made 650 million profit last year, imagine if you add up all the profits from all the transport and utilities companies how much that would come too? 

Germans run all there own utilities/transport feeding profits back into the coffers.. in fact Germans and French run a load of ours as well thanks to privatisation over the years.. taking profits out of the country.. 

so I may vote for them even if they do destroy the country even more.. they might fix some things.. conservatives are only going to keep rinsing the young/poor and continue with mass immigration for low wages for their pals.. 

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Don't forget how the housing market responded in 2013 when the Government showed it would support the bubble through HTB.

This is May's attempt to stay in power.

A brazen attempt to restore confidence in a teetering housing market by piling debt on the young and desperate.

Probably lobbied for by a worried construction sector. Presumably now the overseas investors aren't buying the new builds, the young will be pushed to buy them.

This shows exactly who the Tories are and it shows why more and more people are now willing to vote for a radical like Corbyn.

Edited by Tempus

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3 hours ago, winkie said:

Help to buy is still debt ~\\\~

My local, true blue, completely safe seat...

This is where planning restricts what an individual or self build that can do to improve their lot but developers seem to be able to do what they want.. 

http://www.parliament.uk/biographies/commons/damian-hinds/3969

Political Interests

Education, welfare, affordable credit, social mobility

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53 minutes ago, nothernsoul said:

When Osborne brought in help to buy, just as prices were starting to drop, was when it fully clicked with me. The government would do anything, we'll beyond ultra loose monetary policy to maintain house prices. We had the hypocrisy of local services shut while billions was used to subsidise greedy developers. For any opposition party it is electoralyl difficult to criticise as you will be painted as being someone who doesn't want ordinary people to own a home, the same criticism thrown at those who opposed council house right to buy. I've even heard people complaining it isn't available on non new builds, just so the taxpayer will be directly subsidising owner occupier property gains too. 

Unfortunately  the policy is popular, people see it as helping them get something they couldn't otherwise afford(which should be Britain's motto really).  It's a win win for the government, passiffying first time buyers, keeping the market moving while artificially propping up prices at the same time. 

 

Fully agree. After renting a room in a few different houses for several years, having put up with lots of crap like not being allowed to have any control on the heating, enough was enough. The government made up my mind with this twisted policy when it was introduced as for me it effectively would dilute the efforts I had put into keeping my expenses low for several years in order to build up a decent deposit. No, I didn't use help to buy, but I made effective use of my deposit to buy my first home. Been trying to reduce my mortgage ever since.

Unfortunately I suspect that a significant proportion of the population cannot see the policy for what it really is.

 

 

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27 minutes ago, Tempus said:

Don't forget how the housing market responded in 2013 when the Government showed it would support the bubble through HTB.

This is May's attempt to stay in power.

A brazen attempt to restore confidence in a teetering housing market by piling debt on the young and desperate.

Probably lobbied for by a worried construction sector. Presumably now the overseas investors aren't buying the new builds, the young will be pushed to buy them.

This shows exactly who the Tories are and it shows why more and more people are now willing to vote for a radical like Corbyn.

It's interesting that the attempt to turn around support for the Conservatives amongst the fleeing younger voters seems to consist exclusively of doubling down on existing policies.

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26 minutes ago, Tempus said:

Don't forget how the housing market responded in 2013 when the Government showed it would support the bubble through HTB.

This is May's attempt to stay in power.

A brazen attempt to restore confidence in a teetering housing market by piling debt on the young and desperate.

Probably lobbied for by a worried construction sector. Presumably now the overseas investors aren't buying the new builds, the young will be pushed to buy them.

This shows exactly who the Tories are and it shows why more and more people are now willing to vote for a radical like Corbyn.

Here in the north i wouldnt use the word desperate,more,stupid.The nearest new build site to me is on a field that used to have springs every time it rained,on a huge slope that was always a bog,and always slid around.Lots of drift mine workings under it as well.Most of the terrible houses have been sold on HTB,the 3 beds going for about £130k,the 4 bed detached about £170k.50 yards away are some 1970s ex council houses.Very very well built.You can buy the 3 bed links for between £60k and £70k.They buy the new builds instead because they want a shiny new house.Most also seem to have new cars on the half built drives (the drives never look level,and the roads are thinner than some pavements).

The young (and pretty much anyone under 50 who works) is being shafted,there is no doubt about that,but for a lot/most of them they are their own worst enemies.I think very soon people are going to be reminded what happens when you borrow and consume decades ahead,and dont save and invest.

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Once i tried to buy new built, i negotiated the price by around 5%-10% and then told builder that i want to use HTB then builder said that if you use HTB we will not give you discount of 5%-10% and you need to pay the full price,

i walked away

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11 hours ago, keeprenting said:

£10 billion extension. Torygraph premium article - full view for subscribers only. But the limited text available tells you enough about the 'help' they will offer first time buyers.

http://www.telegraph.co.uk/news/2017/09/30/theresa-mays-tuition-fees-revolution-win-students/

How big was htb in the past, in other words is this business as usual or is it less funding then htb had in the past?

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6 minutes ago, Toast said:

It's interesting that the attempt to turn around support for the Conservatives amongst the fleeing younger voters seems to consist exclusively of doubling down on existing policies.

Get in your kennel and stop whining!

ec1de196af9369b8f7082cabd89eb8a7--dollho

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4 minutes ago, suresh786 said:

Once i tried to buy new built, i negotiated the price by around 5%-10% and then told builder that i want to use HTB then builder said that if you use HTB we will not give you discount of 5%-10% and you need to pay the full price,

i walked away

So it's a loan guaranteed by the govt but with the builder effectively collecting interest on it.

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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