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juvenal

5000 wealthy families used Help to Buy

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Dont think anybody will be surprised by this , HTB Gov intentions were to prop up the ponzi housing scheme so that everyone believed we had a strong booming economy, oh and nearly forgot to boost the bonus's of  Chief Execs and on both counts its been a massive success. 

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If people in the top 10% income segment (nationally) need "help" to buy, we're not even talking about a bubble, it's a champagne bath. (I posted this on Twitter earlier :)

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i could of bought anyway, but the HTB ISA just means i have a bigger deposit and thus can get a better mortgage rate.
All its doing in my situation is reducing bank profits. 

New build BTL is funnelling all the debt heads into new terrible property and killing sales of second hand properties especially now that BTL is about to implode. The decently built second hand older houses seem to be coming down in price from lack of buyers. 

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A friend of mine at work recently purchased a HTB property.

 

When I ask why he had to use HTB, he simply replied "I didn't".

 

Basically used the money as he sees it as a no-lose bet, if property goes down the loan shrinks. Also the fact its a Government loan provides more comfort than a bank knocking at your door.........we are stuck on a culture of cheap credit and bailout mentality

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2 hours ago, Jabbabhoy said:

A friend of mine at work recently purchased a HTB property.

 

When I ask why he had to use HTB, he simply replied "I didn't".

 

Basically used the money as he sees it as a no-lose bet, if property goes down the loan shrinks. Also the fact its a Government loan provides more comfort than a bank knocking at your door.........we are stuck on a culture of cheap credit and bailout mentality

But he's paid over the odds for it compared with an older property, another thread on here has the Land registry figures for the difference, HTB has given new builds about a 30% premium over older stock IIRC.

Near me, 1930's 3 bed house = 130k.  Help to buy pokey 3 bed house = 200k.

 

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12 hours ago, juvenal said:

i like the best rated comment 

"The Cons' Help to Buy is a blatant scam to prop up house prices thereby creating the debt fuelled fake illusion of a strong economy. BIG house price crash starting this year inevitable imo."



 

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1 hour ago, Andy T said:

But he's paid over the odds for it compared with an older property, another thread on here has the Land registry figures for the difference, HTB has given new builds about a 30% premium over older stock IIRC.

Near me, 1930's 3 bed house = 130k.  Help to buy pokey 3 bed house = 200k. 

 

Totally understand all of that, I did try to explain but generally people will make uninformed decisions or decisions based on where they are in their lives. I can honestly see why people jump onto the ladder as the last 20 years or so property prices have risen exponentially, without looking in depth like some posters on here they just follow the crowds

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A £50k household income is not "wealthy".

income != wealth

All these journalists with their English degrees and still they don't know what simple words mean.

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11 hours ago, Dorkins said:

A £50k household income is not "wealthy".

income != wealth

All these journalists with their English degrees and still they don't know what simple words mean.

Very true, also a £50K household can only buy what a £16 k could in the mid to late 1990s

but £16k pa in 1997 is equivalent to £27k today!

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Why is anyone shocked  - why wouldn't you take taxpayer-funded subsidised loans if the government was offering them and you could?

 

I'm SHOCKED, shocked I tell you 😂

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  • 301 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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