So as expected the autumn budget contained a huge bung to keep house prices unaffordable.
if you are too lazy to work and therefore can’t pay your mortgage, the government will guarantee a loan for you with a real interest rate of around -9%. Of course this massive windfall is tax-free.
When you sell the house, if you surprisingly can’t pay off the loan (cos you are too lazy to work, duh), the government just forgives the loan and some sucker renters cover the loss by paying the highest taxes in seventy years.
Now I’ve heard some of you contractors out there have experience of these loans-you-are-never-expected-to-pay-back shenanigans.
So is it all kosher to have some scheme where you get loans but are not expected to pay them back, or could it cause some trouble down the line?
if you are too lazy to work and therefore can’t pay your mortgage, the government will guarantee a loan for you with a real interest rate of around -9%. Of course this massive windfall is tax-free.
When you sell the house, if you surprisingly can’t pay off the loan (cos you are too lazy to work, duh), the government just forgives the loan and some sucker renters cover the loss by paying the highest taxes in seventy years.
Now I’ve heard some of you contractors out there have experience of these loans-you-are-never-expected-to-pay-back shenanigans.
So is it all kosher to have some scheme where you get loans but are not expected to pay them back, or could it cause some trouble down the line?
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