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Longtermrenter

2nd hand Help to Buy house? Ashford, Kent

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Saw this on Rightmove, sold new last year for£315K

 

 

Back on Rightmove at £300k reduced to £280k on Monday this week. IS that the Help to Buy premium knocked off the new price? Good to see this, I guess they must be motivated sellers.

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we have friends that moved this way as part of HTB, to them its a family home so even though they would be upset with loses its not the end of the world. But this is showing the real value of these properties. HTB = you can't afford somewhere, well we will give you a house you can we afford, topped up with a 20% loan on top that you can pay back in 5 years time.

The logic of the whole thing is f*cked, you can't afford somewhere so here is an extra loan. The real value is minus the HTB loan on most cases

 

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HTB premium on top of the existing new build premium.. must have been very motivated to have bailed on that - assuming it sells for the asking that must be a £40k+ loss in a year with costs taken into account. 

Can anyone say "negative equity"?

"Buyers" are mugs and the scheme is criminal.. 

Edited by ftb_fml

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The second hand HTB properties are really obvious - not-quite-so shiny, newish 2 or 3 bed terraces or semis that sit on the market for months on end at the same price as older houses with an extra bedroom and a larger garden. Only difference is that the next buyer can't use HTB so no chance of selling unless the price drops by 20%. Developer has long walked away with the profit, leaving the owner and taxpayer with the loss. 

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39 minutes ago, FedupTeddiBear said:

The second hand HTB properties are really obvious - not-quite-so shiny, newish 2 or 3 bed terraces or semis that sit on the market for months on end at the same price as older houses with an extra bedroom and a larger garden. Only difference is that the next buyer can't use HTB so no chance of selling unless the price drops by 20%. Developer has long walked away with the profit, leaving the owner and taxpayer with the loss. 

Banks are more willing to lend on HTB houses because taxpayers re-imburse 20% of any loss after the FTB's 5% deposit. They will be less willing to lend on the re-sale because there's currently no 20% taxpayer bailout.

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  • 140 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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