Labour aren't going to buy the next election Honest
Discussion
http://news.bbc.co.uk/1/hi/uk_politics/7592852.stm
Now where is that jaw drop smiley
Free home loans excellent
Now where is that jaw drop smiley
Free home loans excellent
I looked into this when me and the missus bought our first house a a few months ago - and before anyone starts boring me with house price speculation, I couldn't care less, I need a roof over my head.
Its not the free money it appears to be: First of all at the moment funds to the housing associations are limited, though this may change in the future. The Whole of the North West from Carlisle to Manchester has 200 allocations this year.
Its not interest free - you are looking at 5% which at the current rate of inflation is still going to increase your debt over time.
Worst of all, when you sell your house you owe the percentage of the sale to the housing association. E.g. if you buy a house for 150K and borrow 75K from a HA and the rest is mortgaged, if you sold the house for 300K you would owe the HA 50% of that unless of course you had managed to pay it off, so you wuold owe 150K - this is what put me off in then end.
Its not the free money it appears to be: First of all at the moment funds to the housing associations are limited, though this may change in the future. The Whole of the North West from Carlisle to Manchester has 200 allocations this year.
Its not interest free - you are looking at 5% which at the current rate of inflation is still going to increase your debt over time.
Worst of all, when you sell your house you owe the percentage of the sale to the housing association. E.g. if you buy a house for 150K and borrow 75K from a HA and the rest is mortgaged, if you sold the house for 300K you would owe the HA 50% of that unless of course you had managed to pay it off, so you wuold owe 150K - this is what put me off in then end.
Edited by Geoff82 on Tuesday 2nd September 07:48
A few ideas
1. Make stamp duty only payable on the excess over the limit. So a 170k home pays 1% on 20k not 170k etc..
2. Get rid of HIPS. Pointless waste of money which inhibits people from putting their property onto the market.
3. Release more land for development within existing towns. Acres of industrial land goes to waste because it is for industry not homes. Bring the price of land down by increasing supply.
4. Remove VAT on products designed to improve insulation/fuel usage in the home.
5. Remove tax on savings.
6. Call an election
1. Make stamp duty only payable on the excess over the limit. So a 170k home pays 1% on 20k not 170k etc..
2. Get rid of HIPS. Pointless waste of money which inhibits people from putting their property onto the market.
3. Release more land for development within existing towns. Acres of industrial land goes to waste because it is for industry not homes. Bring the price of land down by increasing supply.
4. Remove VAT on products designed to improve insulation/fuel usage in the home.
5. Remove tax on savings.
6. Call an election
What is the point of them offering these stupid incentives after taxing us to this point anyway.
As the suggestions above, remove crap like stamp duty and we wouldn't need a loan to cover it. It says on the article after 5 year free loan buyers have to pay a fee for the privaledge anyway... so that'll be the interest 'free' bit then.
Same as families get some silly small amount to help towards gas bills etc. Just don't put the tax up to start with and we wouldn't need the help.
As the suggestions above, remove crap like stamp duty and we wouldn't need a loan to cover it. It says on the article after 5 year free loan buyers have to pay a fee for the privaledge anyway... so that'll be the interest 'free' bit then.
Same as families get some silly small amount to help towards gas bills etc. Just don't put the tax up to start with and we wouldn't need the help.
SLacKer said:
A few ideas
1. Make stamp duty only payable on the excess over the limit. So a 170k home pays 1% on 20k not 170k etc..
2. Get rid of HIPS. Pointless waste of money which inhibits people from putting their property onto the market.
3. Release more land for development within existing towns. Acres of industrial land goes to waste because it is for industry not homes. Bring the price of land down by increasing supply.
4. Remove VAT on products designed to improve insulation/fuel usage in the home.
5. Remove tax on savings.
6. Call an election
Trust me it wasn't listed in the order of preference.......1. Make stamp duty only payable on the excess over the limit. So a 170k home pays 1% on 20k not 170k etc..
2. Get rid of HIPS. Pointless waste of money which inhibits people from putting their property onto the market.
3. Release more land for development within existing towns. Acres of industrial land goes to waste because it is for industry not homes. Bring the price of land down by increasing supply.
4. Remove VAT on products designed to improve insulation/fuel usage in the home.
5. Remove tax on savings.
6. Call an election
Stamp duty 175K for a year............what about the seller of the first time buyer house they will have to pay stamp duty...it's called a chain. Reform stamp duty just a flat 1% on all transactions it will energise the market all the way up.
This government always have to find some minority to 'HELP' what about the f
king majority for once.Geoff82 said:
Worst of all, when you sell your house you owe the percentage of the sale to the housing association. E.g. if you buy a house for 150K and borrow 75K from a HA and the rest is mortgaged, if you sold the house for 300K you would owe the HA 50% of that unless of course you had managed to pay it off, so you wuold owe 150K - this is what put me off in then end.
why would that put you off? it's still 50%? 
SLacKer said:
Reform stamp duty just a flat 1% on all transactions it will energise the market all the way up.
What you mean is change it to the way it was before Brown started meddling??In 1997 Stamp Duty was charged at 1% of all property transactions over £60K...
Brown didn't even move the starting threshold until 2005 -use of fiscal drag again!
In 1997 Stamp Duty only accounted for a small amount of the tax take - now the governement rely on it.
there will be no reform until that slack jawed c:nt is dragged kicking and screaming from power....
Edited by jesusbuiltmycar on Tuesday 2nd September 10:01
Jasandjules said:
I know they bought Northern Rock, but someone ought to tell them they are running the country, not a feckin Building Society.
I think I'd be a lot happier if this shower were running a building society rather than the county... as they would very soon be looking for a job !!Graham said:
Jasandjules said:
I know they bought Northern Rock, but someone ought to tell them they are running the country, not a feckin Building Society.
I think I'd be a lot happier if this shower were running a building society rather than the county... as they would very soon be looking for a job !!They'd probably fook that up as well.
chris_w666 said:
Am I missing something here.
How the fk does letting people get into state sponsored debt help the economy?
Shared ownership ie where person part rents and part owns a property has been around for yonks.How the f
k does letting people get into state sponsored debt help the economy?Saw this programme last night on the economy whilst things are not rosy they are not as bad as the 1990's.
Unempolyment is less than a million it was at 3 million under the Tories in 1993.
Alot of economists believe if we did go into recession it would be a short one.
Racingdude009 said:
chris_w666 said:
Am I missing something here.
How the fk does letting people get into state sponsored debt help the economy?
Shared ownership ie where person part rents and part owns a property has been around for yonks.How the f
k does letting people get into state sponsored debt help the economy?Saw this programme last night on the economy whilst things are not rosy they are not as bad as the 1990's.
Unempolyment is less than a million it was at 3 million under the Tories in 1993.
Alot of economists believe if we did go into recession it would be a short one.
It is also worth remembering that the only growth in employment since 1997 has been in the public sector....
SLacKer said:
A few ideas
1. Make stamp duty only payable on the excess over the limit. So a 170k home pays 1% on 20k not 170k etc..
2. Get rid of HIPS. Pointless waste of money which inhibits people from putting their property onto the market.
3. Release more land for development within existing towns. Acres of industrial land goes to waste because it is for industry not homes. Bring the price of land down by increasing supply.
4. Remove VAT on products designed to improve insulation/fuel usage in the home.
5. Remove tax on savings.
6. Call an election
You have my vote sir1. Make stamp duty only payable on the excess over the limit. So a 170k home pays 1% on 20k not 170k etc..
2. Get rid of HIPS. Pointless waste of money which inhibits people from putting their property onto the market.
3. Release more land for development within existing towns. Acres of industrial land goes to waste because it is for industry not homes. Bring the price of land down by increasing supply.
4. Remove VAT on products designed to improve insulation/fuel usage in the home.
5. Remove tax on savings.
6. Call an election
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