Tuesday, Apr 14, 2015

£20billion of tax payer's money used in attempt to buy votes?

BBC: Election 2015: David Cameron to pledge right-to-buy extension

A Conservative government would extend the right-to-buy scheme for housing association tenants in England, David Cameron will say, as he unveils his party's general election manifesto.

Posted by cornishman @ 08:35 AM (1664 views)
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5 Comments

1. cornishman said...

"The proposal was branded "deeply unfair" by housing associations, with industry body the National Housing Federation warning it would involve handing over £5.8 billion of taxpayers' money - much of it paid by people stuck in private rentals or unable to move out of their parents' homes - as "gifts" worth up to £100,000 each to tenants in some of the country's most secure and affordable social housing."

http://www.huffingtonpost.co.uk/2015/04/14/right-to-buy_n_7059760.html

Tuesday, April 14, 2015 08:54AM Report Comment
 

2. mombers said...

Will they add a covenant on the deed that no Housing Benefit would be payable ever, and also ineligible for Support for Mortgage Interest? I don't thinks... Fire sale

Tuesday, April 14, 2015 09:26AM Report Comment
 

3. doomwatch said...

The original Thatcher policy was a scam to line the pockets of landlords and then further policies meant other real "owners" are now
forced to sell their properties to pay for elderly care.

More here

Tuesday, April 14, 2015 10:48AM Report Comment
 

4. hpwatcher said...

It's desperate act by a desperate man terrified of losing power.

Tuesday, April 14, 2015 11:04AM Report Comment
 

5. tenyearstogetmymoneyback said...

doomwatch @ 3

I think Thatcher's scheme was well intentioned but in the long term had unforeseen consequences.

The real turning point wasn't selling the houses but Buy to Let / lie to Bet mortgages which didn't appear in numbers
until the Blair Brown era. I can remember, having sold my house in 1999 going in to the Portman building society
to invest some money, seeing a new leaflet and thinking "What the heck is a buy to let mortgage".

Not long before the idea of getting a mortgage for more than one house (or three times salary)
was unthinkable. The only possibility was the dreaded "Bridging loan" which was only intended
to allow people to buy a house before completing on the one they were selling and charged them
about 3 times the normal interest for the privilege.

My solution to unaffordable housing - besides the obvious of building more - would be to re introduce
MIRAS, paying for it by a tax on BTL mortgages.

Wednesday, April 15, 2015 07:28AM Report Comment
 

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