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Help To Debt recipient squealing...

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Help to Debt was all about reeling gullible folk in to pay more for a house than it would have otherwise been worth without the scheme.

ūüėĄūüėĄ

 

Thankyou Gwendo40 for your valuable contribution. Do you have anything of sustainable interest to add?

FYI, I negotiated a deal paying considerably less for my property thankyou.¬†ūüė™

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4 minutes ago, longgone said:

Help to Debt was all about reeling gullible folk in to pay more for a house than it would have otherwise been worth without the scheme.

ūüėĄūüėĄ

 

Thankyou Gwendo40 for your valuable contribution. Do you have anything of sustainable interest to add?

FYI, I negotiated a deal paying considerably less for my property thankyou.¬†ūüė™

Gwendo's next response really knocks it out of the park!

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Seems the thread on MSE has become about the HPC website and its members???  Some nasty comments, reportedly we are bitter muppets?  Odd because I thought wanting to see more affordable housing was a perfectly sensible and fair minded ambition.

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Has anyone done any calculations on the increase in mortgage payments when the debt slaves have to start paying the government loan back? I'd be interested to see them.

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Interest payments calculated using RPI which is allways higher than CPI, Allways the same with the Government when they have to pay out i.e. benefits it is calculated using CPI but as soon as you have to pay them back anything it is calculated using RPI. Ah well, sure we're here of more of these story's in due course, no doubt there will be a mis-selling saga as well at some point.

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1 hour ago, Wayward said:

Seems the thread on MSE has become about the HPC website and its members???  Some nasty comments, reportedly we are bitter muppets?  Odd because I thought wanting to see more affordable housing was a perfectly sensible and fair minded ambition.

MSE = wanting to save money on everything except the most expensive purchase they will ever make

You know the old saying, look after the pennies and throw the £100,000s out the window like confetti.

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28 minutes ago, Captain Kirk said:

Has anyone done any calculations on the increase in mortgage payments when the debt slaves have to start paying the government loan back? I'd be interested to see them.

Working on a spreadsheet now, Will be riddled with errors but should come close. 

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3 minutes ago, Dorkins said:

MSE = wanting to save money on everything except the most expensive purchase they will ever make

You know the old saying, look after the pennies and throw the £100,000s out the window like confetti.

LOL

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2 hours ago, nome said:

Gwendo's next response really knocks it out of the park!

Oh come on, if we are entitled to laugh at the HPCers I think we're also entitled to have little laugh at the gullible debt slaves panicking over the piddliest of interest rate rises.

 

just whack it up to a nice round 6%  after all that is very low 

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1 hour ago, Wayward said:

Seems the thread on MSE has become about the HPC website and its members???  Some nasty comments, reportedly we are bitter muppets?  Odd because I thought wanting to see more affordable housing was a perfectly sensible and fair minded ambition.

Careful. Youll talk us into a recession....

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Going forward, the very small increase now will result in bigger & bigger payments in years to come for many people...unfairly early in my view.

If only there was a word for this, like, usury or compounding interest.

See, ive just made up two words. Watch out Susie Dent.....

And if only theyd written it down on a bit of paper for her...

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52 minutes ago, Captain Kirk said:

Has anyone done any calculations on the increase in mortgage payments when the debt slaves have to start paying the government loan back? I'd be interested to see them.

Assuming 25 year term 5 year fix rate mortgage taken out Jan 2014 at of 2.37% resetting to an SVR of 4%. £300,000 house & Government provided projections for equity loan rates. You're looking at a 24% increase in monthly payments.... Unless I've missed something.  

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2 hours ago, Wayward said:

Seems the thread on MSE has become about the HPC website and its members???  Some nasty comments, reportedly we are bitter muppets?  Odd because I thought wanting to see more affordable housing was a perfectly sensible and fair minded ambition.

I am quite bitter. I (more accurately my wife and I) paid over the odds for the house we live in. I would say I'm certain we will look back on prices now like we look back on prices in Japan in 1990 but I can't call the turning point - 5, 10, 20 years? - I wanted have a secure home to start a family and couldn't wait 10 years so took the plunge. But yes, bitter is probably fair, if not for the reasons they think. 

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1 hour ago, Council estate capitalist said:

Assuming 25 year term 5 year fix rate mortgage taken out Jan 2014 at of 2.37% resetting to an SVR of 4%. £300,000 house & Government provided projections for equity loan rates. You're looking at a 24% increase in monthly payments.... Unless I've missed something.  

Excellent, thanks!

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4 hours ago, Dorkins said:

MSE = wanting to save money on everything except the most expensive purchase they will ever make

You know the old saying, look after the pennies and throw the £100,000s out the window like confetti.

Yes, it kind of makes the whole site seem brainwashed or something?

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17 hours ago, Wayward said:

Seems the thread on MSE has become about the HPC website and its members???  Some nasty comments, reportedly we are bitter muppets?  Odd because I thought wanting to see more affordable housing was a perfectly sensible and fair minded ambition.

Sadly not a view everyone shares (I do by the way).

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Sounds like there are some friendly, open-minded people on MSE.

I certainly think there will be a lot of "bitter little muppets" once the scandal of HTB really comes home to roost over the next five years or so and those who've subscribed realise the horror of what they've bought in to...

Edited by ftb_fml

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16 hours ago, Dorkins said:

MSE = wanting to save money on everything except the most expensive purchase they will ever make

You know the old saying, look after the pennies and throw the £100,000s out the window like confetti.

A bit like Money Box on Radio 4...we have endured dreary reports of how some folk are paying £20 a year more on their travel insurance than they should whilst the state deliberately inflates the price of an average family home by £100 or more per day.

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15 hours ago, bushblairandbrown said:

I am quite bitter. I (more accurately my wife and I) paid over the odds for the house we live in. I would say I'm certain we will look back on prices now like we look back on prices in Japan in 1990 but I can't call the turning point - 5, 10, 20 years? - I wanted have a secure home to start a family and couldn't wait 10 years so took the plunge. But yes, bitter is probably fair, if not for the reasons they think. 

Yes you have a right to be bitter...you are on the wrong side of a deliberate transfer of wealth and power from one group to another.  I doubt you can take much comfort from knowing how much unearned wealth the vendor of the house you bought has acquired and how you have to slave to pay back what you had to borrow.

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I get a mention !!

...

One member on the HPC forum has an interesting profile that says it all:
Wayward
HPC Veteran
1,866 posts
Location: poorly housed in southern England

 

....

I think what is interesting about this is evidently how divisive UKGov and BOE policies are in respect to housing and their Heculean efforts to inflate prices. 

 

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53 minutes ago, Wayward said:

A bit like Money Box on Radio 4...we have endured dreary reports of how some folk are paying £20 a year more on their travel insurance than they should whilst the state deliberately inflates the price of an average family home by £100 or more per day.

This moneysaving stuff is pure cargo cult behaviour carried over from decades ago when food and manufactured goods were expensive but housing was cheap. Food and manufactured goods are now cheap and abundant and both sold in very competitive markets, there are almost no gains to be had by being a 'smart shopper'.

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17 hours ago, Council estate capitalist said:

Assuming 25 year term 5 year fix rate mortgage taken out Jan 2014 at of 2.37% resetting to an SVR of 4%. ¬£300,000 housÔĽŅe & Government provided projections for equity loan rates. YÔĽŅou're looÔĽŅking aÔĽŅt a 24% increase in monthly payments.... Unless ÔĽŅI've missed something.¬†¬†

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I've been following this particular blog where the writer talks about what happens with HTB after the 5th year.

It seems mortgage would nearly double!! (writer assumes 40% London HTB)

http://mynewhomeblog.com/2019/01/22/help-to-buy-after-the-5th-year/

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  • 297 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% +
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      • Even
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      • up 5%



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