Tuesday, September 2, 2008

Is it me or do all these measures just make it easier for people to overstretch their finances again??

Government unveils £1bn rescue package for ailing housing market

Offering 10,000 first time buyers frozen out of the mortgage market the chance to get onto the property ladder through a new £300m shared equity scheme. Buyers, whose household income is under £60,000, can apply for an equity loan of up to 30% of the value of the house, co-funded by the government and the developer and which will be free of charge for five years.

Posted by peter whelp @ 12:28 PM (386 views)
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2 thoughts on “Is it me or do all these measures just make it easier for people to overstretch their finances again??

  • I remember T.Blair grizzling about the rising price of houses in London, years before they peaked – the sentiment being that this was a ‘market’ thing and therefore beyond even Head of Government contol.
    Now the new ‘Prudent’ P.M. wants to intervene in a trillion pound market with a billion of our taxpayer pounds – so the spivs and property pornstars can piss that up the wall.
    Talk about catching a falling knife – they couldn’t organise a brew-up in a pizzeria

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  • Whereas a year ago all they had to do was collude with the developer to overstate the value of the property in order to buy a property they couldn’t afford (buyers’ gifts). Nothing new under the sun…….
    Barry
    http://www.chard.co.uk

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