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The masses waking up to the HTB scam?


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I’ve noticed on Twitter a lot of people commenting on HTB not being the wonderful thing people thought it was. And I mean from normal people, not just us HPC “loons”.

This tweet posted by someone with 100k followers is getting a lot of interest! It’s been retweeted by 3 people I follow so people are taking it serious.

 

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wonder if the growing unrest about the scheme is linked to the 5 years passing and actually having to pay up, or people just seeing it on the horizon

i mean 5 years in the future is a long way away until its right in front of you

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29 minutes ago, spyguy said:

Masses?

Or just the people who borrowed the HTB loan and their parents who lent them the money?

Masses = the people it was aimed at. If people are talking about it, if people are being shafted by it, if people kids are being shafted by it, how long before everyone knows someone who has been shafted by it?

And these people are not realising how it inflated the price of houses bought with it yet and thus shafted everyone, not just themselves yet - though they'll probably never work that one out.

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54 minutes ago, scb said:

Masses = the people it was aimed at. If people are talking about it, if people are being shafted by it, if people kids are being shafted by it, how long before everyone knows someone who has been shafted by it?

And these people are not realising how it inflated the price of houses bought with it yet and thus shafted everyone, not just themselves yet - though they'll probably never work that one out.

HTB have shafted themselves.

Suckered.

They have to sell to someone without a  HTB loan.

 

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3 minutes ago, spyguy said:

HTB have shafted themselves.

Suckered.

They have to sell to someone without a  HTB loan.

 

The one taking the hit here is the government if prices fall. The 240k towards the 600k London flat could well become half of that. Correct me if I’m wrong. 

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The original owner of the HTB loan also takes the hit?

If the government's equity was on a first loss stake I'm sure we would have seen plenty of ex-new build flats being offloaded at c.20% off. 

I see quite a lot of them dotted across London, stubbornly trying to recoup what they paid for it. Because they aren't eligible for HTB anymore it is a really tough ask. 

To me, it's a thin market, the new buyer needs probably 100k+ deposit and large earnings to afford a 2-bed flat in an outer zone for £450k. If someone raised that money through selling another property, why would a flat be the next step up the ladder? For the same cost you could buy a house.

I think the sob stories will start next year - for new builds the price has been stagnant since around 2016, and from 2021 the people who bought then will have the government loan to pay back. There may also be people who cannot remortgage due to valuation.

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3 hours ago, Neapolitan said:

The one taking the hit here is the government if prices fall. The 240k towards the 600k London flat could well become half of that. Correct me if I’m wrong. 

The Govt? Never.

The taxpayers aka slaves.

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I was under the impression the plight in the OP was Developer HTB schemes. Are you guys saying THAT is how ALL HTB schemes work?

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  • 415 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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