100% Mortgages with Negative Equity Protection
Discussion
metro
bbc
k happened to personal responsibility?
Where will the money come from? How many years before UK PLC collapses under the strain of New Labour?
bbc
metro said:
Under the HomeBuy scheme buyers with a household income of less than £60,000 can borrow money from the government for a deposit.
Those who qualify can be lent up to 15 per cent of the value of a property by the government and 15 per cent by the property developer.
Interest on the loan does not kick in for the first five years. If the property has gone down in value when the owner sells it the 30 per cent loan need not be paid back, providing a cushion against negative equity.
What the fThose who qualify can be lent up to 15 per cent of the value of a property by the government and 15 per cent by the property developer.
Interest on the loan does not kick in for the first five years. If the property has gone down in value when the owner sells it the 30 per cent loan need not be paid back, providing a cushion against negative equity.
k happened to personal responsibility?Where will the money come from? How many years before UK PLC collapses under the strain of New Labour?
jesusbuiltmycar said:
metro
bbc
k happened to personal responsibility?
Where will the money come from? How many years before UK PLC collapses under the strain of New Labour?
How is it a cushion for negative equity?bbc
metro said:
Under the HomeBuy scheme buyers with a household income of less than £60,000 can borrow money from the government for a deposit.
Those who qualify can be lent up to 15 per cent of the value of a property by the government and 15 per cent by the property developer.
Interest on the loan does not kick in for the first five years. If the property has gone down in value when the owner sells it the 30 per cent loan need not be paid back, providing a cushion against negative equity.
What the fThose who qualify can be lent up to 15 per cent of the value of a property by the government and 15 per cent by the property developer.
Interest on the loan does not kick in for the first five years. If the property has gone down in value when the owner sells it the 30 per cent loan need not be paid back, providing a cushion against negative equity.
k happened to personal responsibility?Where will the money come from? How many years before UK PLC collapses under the strain of New Labour?
NoelWatson said:
jesusbuiltmycar said:
metro
bbc
k happened to personal responsibility?
Where will the money come from? How many years before UK PLC collapses under the strain of New Labour?
How is it a cushion for negative equity?bbc
metro said:
Under the HomeBuy scheme buyers with a household income of less than £60,000 can borrow money from the government for a deposit.
Those who qualify can be lent up to 15 per cent of the value of a property by the government and 15 per cent by the property developer.
Interest on the loan does not kick in for the first five years. If the property has gone down in value when the owner sells it the 30 per cent loan need not be paid back, providing a cushion against negative equity.
What the fThose who qualify can be lent up to 15 per cent of the value of a property by the government and 15 per cent by the property developer.
Interest on the loan does not kick in for the first five years. If the property has gone down in value when the owner sells it the 30 per cent loan need not be paid back, providing a cushion against negative equity.
k happened to personal responsibility?Where will the money come from? How many years before UK PLC collapses under the strain of New Labour?
Apart from the tax payer, but who cares about them as long as everyone has the ability to buy a house, regardless of having zero savings or an income that can pay for it?
They are just trying to prop up the over inflated property market by keeping prices high/unaffordable by normal means.
Look at all the shared ownership schemes. FFS just build houses that are affordable and can be bought normally. There is just this obsession to keep prices high, because high house prices are good
Look at all the shared ownership schemes. FFS just build houses that are affordable and can be bought normally. There is just this obsession to keep prices high, because high house prices are good
anonymous said:
[redacted]
Have to agree a bazillion percent, with the aim of short sighted knee jerk reactions and blatant electioneering. They couldn't care less about what actually happens to people as long as they grab some headlines and are seen to be doing the right thing by the hoi poi, I am genuinely concerned they will be re-elected.I'm leaving Europe for Canada, good luck to all of you that remain ....
Edited by digger_R on Tuesday 16th December 11:33
anonymous said:
[redacted]
This was my point. Same as with the Barratt 15% offer - I reckon you won't be able to use this in conjunction with any other deals, so won't be able to chip 30% off the asking price. You end up paying full price for something that will be worth less than 70% of what you paid if you come to sell it in a few years time.Why didn't the Gunment bail out the housebuilders directly if they think that is what is required?
CoopR said:
So I get 30k interest free loan on a 100k flat. I then turn around and sell it to my mate at 70k. He then turns around and sells it for 100k and we split 15k each. Nice! 
Except when you get caught out with your SDLT returns being checked a year later...This has a lot to do with SDLT imo.
Tonker's example is a great one as you can see in one instance the government gets £0 and in the other £1,860.
What about if you go through this, not looking to commit fraud, house prices go up by 5%. Surely that means you have a £70k mortgage (on our £100k property), plus £30k in gov loans. House value is £105k when you come to sell it, meaning you can pay off your mortgage at £70k, but then need to find £35k on top, leading to one big massive debt!!
Oakey said:
LeoSayer said:
What's wrong with renting?
Other than rent costing about the same as a mortgage?Rent somewhere cheap to start with ... like a flat share, then save some money until you have a deposit (i.e. some equity) then when you are ready and able to support your "investment" enter the market.
Its what i am sure that most of us here (that are in our late 30's + at least) had to do.
NoelWatson said:
Oakey said:
LeoSayer said:
What's wrong with renting?
Other than rent costing about the same as a mortgage?
Oakey said:
NoelWatson said:
Oakey said:
LeoSayer said:
What's wrong with renting?
Other than rent costing about the same as a mortgage?
There are still people who are living in houses which were built by the Great Grandfathers...Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff