Jump to content
House Price Crash Forum
_w_

Government To Set Up Sale And Leaseback Scheme For British Homeowners

Recommended Posts

Apologies if this is unfounded but heard this crazy news on CNBC, UK to allow homeowners to sell their properties to the government and rent them back ???

Anyone else heard that?

Share this post


Link to post
Share on other sites
Apologies if this is unfounded but heard this crazy news on CNBC, UK to allow homeowners to sell their properties to the government and rent them back ???

Anyone else heard that?

Heard that in 1991. Also in the US press Sept-Nov 2007.

No doubt, we'll hear of more stupid ideas every week.

Share this post


Link to post
Share on other sites
Apologies if this is unfounded but heard this crazy news on CNBC, UK to allow homeowners to sell their properties to the government and rent them back ???

Anyone else heard that?

Man oh man, let's hope not.

Share this post


Link to post
Share on other sites

its been done before on the forum. they probably picked up on it while trawling.

isnt it the same as just leasing council houses.

its a fairly good idea though. as long as theres a no 2nd home clause for applicants.

Share this post


Link to post
Share on other sites
its been done before on the forum. they probably picked up on it while trawling.

isnt it the same as just leasing council houses.

its a fairly good idea though. as long as theres a no 2nd home clause for applicants.

while good in theory there are a couple of caveats:

1. Buy backs need to be at realistic prices - people and their lenders need to feel some pain to maintain at least some semblence of responsibility for actions and to stop moral hazard further ramping future housing bubbles.

2. No repurchase clauses - this should become long term stock for those in genuine need, not a safe harbour for people to ride out the storm and then buy back in on the way up.

Share this post


Link to post
Share on other sites

I guess the Govt is just hoping it can plug the black hole in stamp duty revenue with some rental revenue. Perhaps they forgot they don't have any money to buy the bloody houses with in the first place.

Share this post


Link to post
Share on other sites
while good in theory there are a couple of caveats:

1. Buy backs need to be at realistic prices - people and their lenders need to feel some pain to maintain at least some semblence of responsibility for actions and to stop moral hazard further ramping future housing bubbles.

2. No repurchase clauses - this should become long term stock for those in genuine need, not a safe harbour for people to ride out the storm and then buy back in on the way up.

It's a terrible idea. It lets people who bought very good quality homes stay in them without having to actually pay for them. It also means the state will end up with excellent housing stock. Council houses should be rubbish. Life on the dole should be made as uncomfortable as possible in an attempt to get people to do something useful.

Let them get repossessed, then put them up in normal, crap council housing if they meet the criteria. Make them queue like everyone else.

Share this post


Link to post
Share on other sites
This is a great idea.

After a few years they could use the right to buy and buy them back really cheap. :o

Also I heard on radio 4 today some get out clause about paying back unsecured loans pre 2007.

So a possible scenario is that all those that have got into financial trouble by getting into too much debt

will end up getting all debts wiped off and renting a very nice council house.

This will have the added benefit that al those that sell their house to the government will get a big load of cash that

they can run out and spend to give the economy a boost.

Share this post


Link to post
Share on other sites
Council houses should be rubbish. Life on the dole should be made as uncomfortable as possible in an attempt to get people to do something useful.

Personally I think that it's a shame that a gentleman is no longer allowed to use his cane to beat these ruffians into the gutter.

:rolleyes:

Share this post


Link to post
Share on other sites
Personally I think that it's a shame that a gentleman is no longer allowed to use his cane to beat these ruffians into the gutter.

:rolleyes:

I've just decided I can't be bothered to work any more. So if you would kindly just give me a nice house and some cash, I'd really appreciate it. A 3 bed semi with a reasonable garden and about 30k a year tax free should just about cover it. Thanks.

What's that you say? Do I hear a very loud 'f*ck off and sort yourself out'?

Share this post


Link to post
Share on other sites
Also I heard on radio 4 today some get out clause about paying back unsecured loans pre 2007.

So a possible scenario is that all those that have got into financial trouble by getting into too much debt

will end up getting all debts wiped off and renting a very nice council house.

This will have the added benefit that al those that sell their house to the government will get a big load of cash that

they can run out and spend to give the economy a boost.

So it pays to have bad debt then, so peopel that work hard have no debt have to pay for those that do, welcoem to 21 century britain.

Share this post


Link to post
Share on other sites

without trying to be an alarmist doomster....

i really can envisage civil war in this country soon.

the property owning / MEWing government supporters being subsidised by the government versus people like us who do not own property and will have to pay for their prudence.

its going beyond a joke now. there is no way i will pay council taxes to keep the mewing greedy muppets in their houses.

no way

Share this post


Link to post
Share on other sites
So it pays to have bad debt then, so peopel that work hard have no debt have to pay for those that do, welcoem to 21 century britain.

Welcome to Modern Britain: Sh1tting on the little guy since 1997

Share this post


Link to post
Share on other sites

So the govt is proposing to buy houses at a over inflated prices??

Truly genius it's a good job the Treasury if full of cash. And the rents for these properties will be set at what? Lower than the current market rate? Depressing rental values further?

Share this post


Link to post
Share on other sites
So it pays to have bad debt then, so peopel that work hard have no debt have to pay for those that do, welcoem to 21 century britain.

I am not saying thats what will happen but it is looking to be a possibility. The lenders are being bailed out at the taxpayers expense. The borrowers too could be bailed out at the taxpayers expense. Both here and in the USA.

The burden of carrying all these people is too much, there will be no incentive to work.

If this scenario did play out I can see a mass exodus from the UK and USA.

Share this post


Link to post
Share on other sites
Personally I think that it's a shame that a gentleman is no longer allowed to use his cane to beat these ruffians into the gutter.

:rolleyes:

If it is of any use to you In Sark a man can beat his wife with a stick if:-

1) It is no thicker than his finger

2) Does not draw blood

http://www.parliament.the-stationery-offic...xt/80603-53.htm (see column 468)

Edited by numpty

Share this post


Link to post
Share on other sites
It's a terrible idea. It lets people who bought very good quality homes stay in them without having to actually pay for them. It also means the state will end up with excellent housing stock. Council houses should be rubbish. Life on the dole should be made as uncomfortable as possible in an attempt to get people to do something useful.

Let them get repossessed, then put them up in normal, crap council housing if they meet the criteria. Make them queue like everyone else.

You are suggesting that living in a council house means being on the dole? There are many council dwellers who are unemployed but of course RTB means that many of those who are employed have bought their houses leaving the disabled,retired and umemployed as council tenants. RTB has skewd the situation.

Council houses should be well built and functional, not rubbish. Rubbish houses cost more to maintain...

Btw, half my rent goes to central goverment the other half is used for repairs such as a new kitchen every 20 years or so.

Sadly there are no council houses for the repossessed to move in to, not even crap ones. I've got an idea. The government could pay a token amount , lets say 5 quid, for each house that is about to be repossessed. The 'hard working family' could move out just long enough for you to go in and smash the place up before moving back.

They could then pay rent to the council.

Anyway, it looks like a Tsunami of homelessness is headind our way and the government is doing the headless chicken thing.

Share this post


Link to post
Share on other sites
I am not saying thats what will happen but it is looking to be a possibility. The lenders are being bailed out at the taxpayers expense. The borrowers too could be bailed out at the taxpayers expense. Both here and in the USA.

The burden of carrying all these people is too much, there will be no incentive to work.

If this scenario did play out I can see a mass exodus from the UK and USA.

Where would people go? Certainly most English speaking people would be screwed.

Share this post


Link to post
Share on other sites
You are suggesting that living in a council house means being on the dole? There are many council dwellers who are unemployed but of course RTB means that many of those who are employed have bought their houses leaving the disabled,retired and umemployed as council tenants. RTB has skewd the situation.

Council houses should be well built and functional, not rubbish. Rubbish houses cost more to maintain...

Btw, half my rent goes to central goverment the other half is used for repairs such as a new kitchen every 20 years or so.

Sadly there are no council houses for the repossessed to move in to, not even crap ones. I've got an idea. The government could pay a token amount , lets say 5 quid, for each house that is about to be repossessed. The 'hard working family' could move out just long enough for you to go in and smash the place up before moving back.

They could then pay rent to the council.

Anyway, it looks like a Tsunami of homelessness is headind our way and the government is doing the headless chicken thing.

time to get into B+Btl then. I do a nice bowl of weetaflakes meself.

Share this post


Link to post
Share on other sites

The fact is the Government has no choice.

There is a big rise in repossessions coming.

There are no council houses available.

There is a big waiting list for council housing and families are currently being accomodated in bed and breakfasts.

There is nowhere for these families to go after they are repossed so the sell and rent back scheme is the only option.

It may not be a bad thing because It will increase the council house stock and the rents will provide a source of income for the council.

Once someone sells and rents back to the council it doesnt necessarily mean that you will have a right ot live in that particular house. It maybe that if you have a 4 bedroomed house and your kids leave the nest the council may

move you to a smaller place. Also the rent will be relative to the value of the house when bought by the council so

may well be an incentive to sell at a reasonable price to benefit from a reasonable monthly rent.

Share this post


Link to post
Share on other sites
The fact is the Government has no choice.

There is a big rise in repossessions coming.

There are no council houses available.

There is a big waiting list for council housing and families are currently being accomodated in bed and breakfasts.

There is nowhere for these families to go after they are repossed so the sell and rent back scheme is the only option.

It may not be a bad thing because It will increase the council house stock and the rents will provide a source of income for the council.

Once someone sells and rents back to the council it doesnt necessarily mean that you will have a right ot live in that particular house. It maybe that if you have a 4 bedroomed house and your kids leave the nest the council may

move you to a smaller place. Also the rent will be relative to the value of the house when bought by the council so

may well be an incentive to sell at a reasonable price to benefit from a reasonable monthly rent.

It makes sense.

Share this post


Link to post
Share on other sites
The fact is the Government has no choice.

There is a big rise in repossessions coming.

There are no council houses available.

There is a big waiting list for council housing and families are currently being accomodated in bed and breakfasts.

There is nowhere for these families to go after they are repossed so the sell and rent back scheme is the only option.

It may not be a bad thing because It will increase the council house stock and the rents will provide a source of income for the council.

Once someone sells and rents back to the council it doesnt necessarily mean that you will have a right ot live in that particular house. It maybe that if you have a 4 bedroomed house and your kids leave the nest the council may

move you to a smaller place. Also the rent will be relative to the value of the house when bought by the council so

may well be an incentive to sell at a reasonable price to benefit from a reasonable monthly rent.

They will do what they did in GC1.

Nothing.

lets see: 50000 possessions (official) plus say double that jingle mail. thats 150,000 * say 180,000. Thats £27bn for each year of the recession, PLUS all the thousands of staff to administer it.

Its IMPOSSIBLE.

Buy some B+Bs- thats where the homeless will end up.

or martial law and the sequestration of property.

Share this post


Link to post
Share on other sites
The fact is the Government has no choice.

There is a big rise in repossessions coming.

There are no council houses available.

There is a big waiting list for council housing and families are currently being accomodated in bed and breakfasts.

There is nowhere for these families to go after they are repossed so the sell and rent back scheme is the only option.

It may not be a bad thing because It will increase the council house stock and the rents will provide a source of income for the council.

Once someone sells and rents back to the council it doesnt necessarily mean that you will have a right ot live in that particular house. It maybe that if you have a 4 bedroomed house and your kids leave the nest the council may

move you to a smaller place. Also the rent will be relative to the value of the house when bought by the council so

may well be an incentive to sell at a reasonable price to benefit from a reasonable monthly rent.

The fact is that the government does have a choice.

it means a much smaller government and a much smaller banking system though so they won't take it.

millions of peopel getting made homeless = millions of empty houses they can move into. The only thing that needs to occur is that house prices have to fall. Shame for those caught up ibn the bubble, but why does their mistake mean I have to live in East Germany circa 1962?

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.

  • 396 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.