Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Shared Equity - Only The Poor Will Qualify - Hpi Victims

Recommended Posts

http://business.timesonline.co.uk/article/...2252132,00.html

Housing market

The Sunday Times July 02, 2006

House share solution to rising prices

Clare Francis

A new shared equity scheme for first-time buyers was one of the hot topics at our Money round table
ADVANTAGE, owned by US investment bank Morgan Stanley, will unveil a shared- equity mortgage later this month, designed to help struggling would-be first-time buyers on to the property ladder.
Rising house prices are putting property ownership out of reach for an increasing number of people. Buying a share of a property is one way round the problem, but it has so far only been an option for a minority.
........./
The new part of the plan will be schemes where the government owns 12.5% of the property, and the mortgage lender owns the remaining 12.5%. The buyer then pays “rent” on the proportion owned by the third party. The only lenders who have so far signed up to the scheme are Halifax and the Nationwide and Yorkshire building societies.
But even when the new plans take effect,
Homebuy will still be restricted to certain first-time buyers such as council tenants and workers deemed to be “key”, such as teachers and nurses
. As a result, the majority of people will not be eligible.

Gordon's Miracle Economy has impoverished millions with our nurses and teachers having to have government subsidies to live in homes they cannot afford to "buy" without paying a portion of rent to the government or H.A.

What have you done Gordon.............................?

Share this post


Link to post
Share on other sites

These schemes are a disgrace, taxpayers subsidizing people the government hand pick to be able to buy homes, in an attempt to prop the housing market up. Let th emarket correct and they can buy their own whole house.

Share this post


Link to post
Share on other sites

given all the teachers i know started off on 18k and are now comfortably all earning 25k to 35k depending on position then i don't think they are 'poor'

Share this post


Link to post
Share on other sites

These schemes are a disgrace, taxpayers subsidizing people the government hand pick to be able to buy homes, in an attempt to prop the housing market up. Let th emarket correct and they can buy their own whole house.

I couldn’t agree with you more, but I would go further and say bring back public sector housing for the “poor”, just as it used to be before they were sold off in a political vote catching exercise

Share this post


Link to post
Share on other sites

These schemes are only worth bothering with if you want to live in central London where prices are astronomical. I don't have a problem with key workers like teachers/nurses getting shared equity properties as they are hard to recruit in inner London. It is absolutely disgusting though that council tenants get priority over other first time buyers. Its bad enough they have been living on highly subsidised rents for years without getting a further subsidy to buy a property just because - in many cases - they are incapable of using contraception!

Share this post


Link to post
Share on other sites

This country is ******, all the want to do is trap us into a wimpey rabbit hutch and make us work every hour in the day 7 days a week.

1. Bring back council housing schemes

2. Free land and relax planning for community based self build projects..get people building and making decisions for themselves

3. Stop immigration

4. Encourage different ways of living....narrow boats, log cabins...

For god sake the answers are there but all i see is wimpey fake georgian town houses with hardcore back yards. We are being de skilled and demoralised.

Share this post


Link to post
Share on other sites

This has a ring to it like the 'South Sea Trading Company' The shares were so hyped, that you felt left out if you didn't own any, so what did the ordinary folk do? The hype had taken the price of 1 share beyond all but the very wealthy, and they had already bought, such was the need that small investors formed consortiums to buy 1 share between them. Then the proverbial hit the fan, and lots of ordinary people lost what little they had.

Share this post


Link to post
Share on other sites

This has a ring to it like the 'South Sea Trading Company' The shares were so hyped, that you felt left out if you didn't own any, so what did the ordinary folk do? The hype had taken the price of 1 share beyond all but the very wealthy, and they had already bought, such was the need that small investors formed consortiums to buy 1 share between them. Then the proverbial hit the fan, and lots of ordinary people lost what little they had.

I purchased a house over two years ago now and although its made some money the main reason for buying it was purely to settle down and give the family some security. A fall in prices will have little effect on me unless interest rates force a sale in which case I will probably owe more than my house is worth.

If I had the choice I would build my own eco house and stick two fingers up to the UK.

Share this post


Link to post
Share on other sites

given all the teachers i know started off on 18k and are now comfortably all earning 25k to 35k depending on position then i don't think they are 'poor'

don't forget the 13 weeks paid holiday and guaranteed big fat pension at 60,just for teaching wee joey that 1+1=2 and qui erre et til means what time is it in French! :P:blink:

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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • 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.