Treasury poised to revive council mortgages
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What a fantastic idea - the bank refuses a mortgage because the applicant is deemed financially incompetent -in steps the taxpayer to pick up the bill!
What a blindingly stupid idea.
article said:
Alistair Darling wants local authorities to take on families who have been refused a loan by commercial lenders.
Wow...What a fantastic idea - the bank refuses a mortgage because the applicant is deemed financially incompetent -in steps the taxpayer to pick up the bill!
What a blindingly stupid idea.
Possibly a good idea can come of this.
Government helping first time buyers, by forgoing a deposit and getting it back when sold. Or by cutting out the margin mortgage company’s take and giving people a lower rate of interest.
But of course these both require the government to effectively hand out cash, which they don’t have, unless the taxpayers suffer even more. Or they could just put up more speed cameras.
Government helping first time buyers, by forgoing a deposit and getting it back when sold. Or by cutting out the margin mortgage company’s take and giving people a lower rate of interest.
But of course these both require the government to effectively hand out cash, which they don’t have, unless the taxpayers suffer even more. Or they could just put up more speed cameras.
illmonkey said:
Possibly a good idea can come of this.
Government helping first time buyers, by forgoing a deposit and getting it back when sold. Or by cutting out the margin mortgage company’s take and giving people a lower rate of interest.
But of course these both require the government to effectively hand out cash, which they don’t have, unless the taxpayers suffer even more. Or they could just put up more speed cameras.
Funding at base? Irrespective of LIBOR etc? Holy sGovernment helping first time buyers, by forgoing a deposit and getting it back when sold. Or by cutting out the margin mortgage company’s take and giving people a lower rate of interest.
But of course these both require the government to effectively hand out cash, which they don’t have, unless the taxpayers suffer even more. Or they could just put up more speed cameras.
t. Jasandjules said:
Fittster said:
How does LIBOR impact the government? The one thing the government will always be able to do more effectively than the private sector is borrow money.
Still need to issue guilts, and pay them back.So it's not necissarily true that UK Plc will always be deemed a better credit risk than say Sumitomo Corp. Certainly in terms of the effective borrowing rate, and looking at the state of the UKs public finances.
At the very least, owning their own homes might encourage council tennants to take a bit more care of their homes and stop some council estates looking like third world slums.
Still smarts a bit that everyone else has to pay for it but that's the welfare state for you.
Still smarts a bit that everyone else has to pay for it but that's the welfare state for you.
Edited by DJFish on Thursday 7th August 11:14
DJFish said:
At the very least, owning their own homes might encourage council tennants to take a bit more care of their homes and stop some council estates looking like third world slums.
Possibly, but what will also happen, I'm guessing, is that the councils will be under pressure not to evict/repo nonpayers. So the financially fickle can continue to be jsut that. DJFish said:
At the very least, owning their own homes might encourage council tennants to take a bit more care of their homes and stop some council estates looking like third world slums.
I'm not so sure, getting what you want easily and without too much sacrifice will not make them value their home/estate any more than they do now, IMOHODJFish said:
At the very least, owning their own homes might encourage council tennants to take a bit more care of their homes and stop some council estates looking like third world slums.
Do you really think that paying a mortgage rather than renting will really change the attitudes of the worst kind of council house dweller? Those sort of people usually have no (legal) income anyway so couldn't get a mortgage...even a government backed "fisher price" one!From the little experience I've had of council tennents, everything is someone else's fault, problem or responsibility.
I once had a tennent ask me to come round and plug her TV aerial in for her as she "didn't like messing around with electricity"
If you make them take responsibility for their own lives and homes it might shake them out of their culture of reliance on others.
Then again it probably won't.
I once had a tennent ask me to come round and plug her TV aerial in for her as she "didn't like messing around with electricity"
If you make them take responsibility for their own lives and homes it might shake them out of their culture of reliance on others.
Then again it probably won't.
DJFish said:
At the very least, owning their own homes might encourage council tennants to take a bit more care of their homes and stop some council estates looking like third world slums.
I think you are being very optimistic on that one old son...Edited by DJFish on Thursday 7th August 11:14
Edited by andygo on Thursday 7th August 11:34
DJFish said:
If you make them take responsibility for their own lives and homes it might shake them out of their culture of reliance on others.
Then again itprobably won't.
My bold and strikethrough.Then again it
All that this will do is create a new strata of council housing. Given that the old style were almost all sold off, that we have got to the point that the BTL market has imploded and so another outlet for the DSS tennants (or whatever they are reffered to this week) has/will shortly dry up they have to think of another way of housing the less fortuante and the scum.
Edited by rude-boy on Thursday 7th August 11:34
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