Dorkins Posted April 26, 2018 Share Posted April 26, 2018 It seems like the buyer is still totally shafted even with this big HTB writedown. Paid £500k for flat using £95k loan and presumably about £400k of mortgage debt. So the total debt was about £495k, the government just wrote off £85k of it so the debt outstanding is about £410k. Except now the flat is valued at £50k so the buyer is sitting on £360k of negative equity. Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted April 27, 2018 Share Posted April 27, 2018 The way I see it is this questionable £50k valuation is a way for the government to take almost all of the hit from negative equity looming and not her. Anyone really think that the highest that flat will sell for is £50k? Once again, tax payers being taken for cash cows. Quote Link to comment Share on other sites More sharing options...
Si1 Posted November 11, 2020 Share Posted November 11, 2020 https://www.insidehousing.co.uk/news/news/help-to-buy-leaseholders-can-only-sell-homes-with-cladding-at-unaffected-market-value-68534 Help to Buy leaseholders can only sell homes with cladding at ‘unaffected market value’ New rule I believe Quote Link to comment Share on other sites More sharing options...
markyh Posted November 11, 2020 Share Posted November 11, 2020 You might not think it a "so-called" bailout but it looks like a bailout and quacks like a bailout. More taxpayers money down the drain. Anyway, why are your posts so negative? You should be happy, prices are on the way down. Trust me, as i know several families who have bought with HTB, some twice since 2013, and now have six figure equity coming from smaller 1 and 2 bed OO properties, the UK Gov have a far more positive % ownership fro UK HTB stock than these odd occasions where HTB property values have crashed. An every time those HTB mortgages are settled, they get their nice cut in cash with any HPI gains on top. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 11, 2020 Share Posted November 11, 2020 https://www.insidehousing.co.uk/news/news/help-to-buy-leaseholders-can-only-sell-homes-with-cladding-at-unaffected-market-value-68534 Help to Buy leaseholders can only sell homes with cladding at ‘unaffected market value’ New rule I believe So cant sell then Quote Link to comment Share on other sites More sharing options...
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