Jump to content
House Price Crash Forum
nome

Daily Mail - Help to Buy mess

Recommended Posts

HTB gave people who could the house a 5 year 25% 0% free loan.

If you could not afford without HTB then you should have avoided it as the outcome is youll get sold a 25% overpriced new build in an estate full of social housing.

Share this post


Link to post
Share on other sites

Such a terrible scheme in Wroxham the less desirable part of town is at the fringes.  The Norwich end is miles from the schools/shops etc and the new development is right by the main road which is very busy in summer.

next door keys drive mature 4 bed detached houses with field views and a good sized gardens go fo about 350/400 (would be 450+ in town or on avenue) still not good for the schools but a house.

The small houses 350+ and the larger ones going for 500k+.  A lot went unsold for a long time but recently the expensive units all went possibly due to HTB and part exchange and other incentives.

All to get you in an overpriced house in a poor location.

Share this post


Link to post
Share on other sites
Quote

When the house is sold, the government takes the same proportion of the sale price. If it goes up, the government makes money. If it goes down, the taxpayer makes a loss.

It's progress mentioning taxpayer's actually foot the bill, i.e  more bank bailouts when we weren't supposed to be doing that again. Help to Buy Bail Banks and Profit Builders.

Share this post


Link to post
Share on other sites

Loving the change in sentiment, slowly turning the masses into realising rampant hpi is fueled by fraud and not good for anyone besides the greedy...and it isn't a right!

Share this post


Link to post
Share on other sites

I honestly can't think of a worse government 'scheme' ever. The more negative headline that come out about it the better. I'm even looking forward to the traditional sad looking couple outside their crumbling new builds saying they were sold a lie etc etc

Share this post


Link to post
Share on other sites
1 hour ago, Sperm Donor said:

I honestly can't think of a worse government 'scheme' ever. The more negative headline that come out about it the better. I'm even looking forward to the traditional sad looking couple outside their crumbling new builds saying they were sold a lie etc etc

SMI paying off pensioners mortgages indefinitely was pretty bad.

Share this post


Link to post
Share on other sites
1 hour ago, Sperm Donor said:

I honestly can't think of a worse government 'scheme' ever. The more negative headline that come out about it the better. I'm even looking forward to the traditional sad looking couple outside their crumbling new builds saying they were sold a lie etc etc

Just keep watching, they will trump this soon enough

Share this post


Link to post
Share on other sites
27 minutes ago, Si1 said:

SMI paying off pensioners mortgages indefinitely was pretty bad.

Absolutely.

 

17 minutes ago, Switch625 said:

Just keep watching, they will trump this soon enough

Hopefully the change in sentiment will prevent this but sadly you're probably right.

Share this post


Link to post
Share on other sites

So the key truth is: HTB helped people who could afford the mortgage payments but either:

i) didn't have the exorbitant deposit OR

ii) figure they would stick the 20% in a cash deposit until the HTB loan portion falls due

HTB was never going to do the intended because the real peopl eof this country can't afford a house for *two* reasons:

a) the exorbitant deposit AND

b) the massive price in the first place

 

Share this post


Link to post
Share on other sites
2 hours ago, Aidan Ap Word said:

So the key truth is: HTB helped people who could afford the mortgage payments but either:

i) didn't have the exorbitant deposit OR

ii) figure they would stick the 20% in a cash deposit until the HTB loan portion falls due

HTB was never going to do the intended because the real peopl eof this country can't afford a house for *two* reasons:

a) the exorbitant deposit AND

b) the massive price in the first place

 

Let's not forget the people it really helped

Quote

 

A group of 130 bosses at housebuilder Persimmon are set to share a £300 million bonus bonanza in the biggest windfall in the history of the industry.

The unprecedented payout is part of a notorious bonus scheme that is delivering £75 million to the chief executive Jeff Fairburn.

Tomorrow’s payday will hand 130 senior managers an average of £2.3 million each. The handout is the second and largest part of an incentive scheme, that will take the total for managers below the board level to £500 million.

They previously shared in a £200 million payout over Christmas which was overshadowed by the storm over Fairburn’s £50 million.

http://www.thisismoney.co.uk/money/news/article-5904223/More-100-managers-join-Persimmons-bonus-gravy-train-300m-windfall.html

 

 

Share this post


Link to post
Share on other sites
2 hours ago, Aidan Ap Word said:

So the key truth is: HTB helped people who could afford the mortgage payments but either:

i) didn't have the exorbitant deposit...

 

No, what help to buy did was push up prices so that people who did have the deposit to buy now also needed an additional government loan.

Help-to-buy was pretty much a direct cash handout to the CEOs of building companies.  

It isn’t failed policy, it’s plain old corruption.

 

Share this post


Link to post
Share on other sites
19 minutes ago, Democorruptcy said:

Let's not forget the people it really helped

 

https://www.theguardian.com/business/2017/dec/15/persimmon-chair-resigns-chief-executive-obscene-bonus

And was a promo shot with Persimon chief scumbag with osbourne on a building site showing off the new scheme but later shown as what the scheme was really about.  Osbourne DID know what he was doing with this scheme.

 

http://www.dailymail.co.uk/news/article-3639837/Mr-100m-Outrage-bonus-boss-housing-firm-propped-taxpayer-funded-Help-Buy.html

Dmail  originally portrayed  this as a benevolent/altruistic scheme when it originally wrote about it.

Edited by steve99

Share this post


Link to post
Share on other sites
23 minutes ago, BorrowToLeech said:

No, what help to buy did was push up prices so that people who did have the deposit to buy now also needed an additional government loan.

Help-to-buy was pretty much a direct cash handout to the CEOs of building companies.  

It isn’t failed policy, it’s plain old corruption.

 

Yes crony capitalism at its best,  ie 3rd world style economics

Share this post


Link to post
Share on other sites
5 hours ago, wsn03 said:

Loving the change in sentiment, slowly turning the masses into realising rampant hpi is fueled by fraud and not good for anyone besides the greedy...and it isn't a right!

Eerily quiet from the pro HPI side also I've noticed, not that they ever have any argument to offer beyond house prices only ever go up.

Share this post


Link to post
Share on other sites

Looking at the comments on the recent DM articles it seems like there's been a sea change in public opinion on the morals of BTL and the desirability of high house prices. When even the Daily Mail are against these things, you know things are going to change. 

Good to see HTB being exposed for the taxpayer-funded bung to developers that it is.

Share this post


Link to post
Share on other sites

When HTB was first introduced I wrote to my MP saying that it was bound to help increase prices that were already far too high.  He forwarded it to the then housing minister - IIRC nasty spivvy Grant Schapps - who sent me an extremely arrogant reply, saying that there was 'no evidence' that it would increase prices. 

I wish I'd kept it now.  

Share this post


Link to post
Share on other sites

£50k loan from the government to help keep the deception going.... but your service charge is added to your bill then 5 years later, your purchase has declined in value, but your debt has increased in value..... Sounds like a scam 🤣

Share this post


Link to post
Share on other sites
3 hours ago, Mrs Bear said:

When HTB was first introduced I wrote to my MP saying that it was bound to help increase prices that were already far too high.  He forwarded it to the then housing minister - IIRC nasty spivvy Grant Schapps - who sent me an extremely arrogant reply, saying that there was 'no evidence' that it would increase prices. 

I wish I'd kept it now.  

Well done for raising the issue.  I love your description of Schapps, it pretty much sums up most of the prominent Tories: nasty and spivvy*.

 

* from Google:

spiv

noun
Britishinformal
noun: spiv; plural noun: spivs
a man, typically a flashy dresser, who makes a living by disreputable dealings.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 261 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.