Sir Mervyn King warns Govt over Help to Buy risks

[Martin@AS Financial]

Sir Mervyn King warns Govt over Help to Buy risks | News | Mortgage Strategy

[vetran]

Bank of England governor Sir Mervyn King has warned the Government its Help to Buy scheme could fuel a US -style housing boom and must not be made permanent.

He only just worked that out???

muppet

[DimPrawn]

Help to buy.......votes!

Vote UKIP

[Old Hack]

Sir Mervyn King warns Govt over Help to Buy risks | News | Mortgage Strategy

I simply do not understand the lunacy of only offering the help on new builds, for the housing stock will still be reduced, as no one is going to buy a 5 bed Victorian house for £500k with a lovely garden, character and fine features, if they can buy a brand new 5 bed box on a link estate with £100k of the governments money. It's going to create many more problems than it will solve.

It will simply render the older houses useless, as well as the new houses, once they've been sold once. You're going to create a lot of negative equity very quickly, imo.

[vetran]

I simply do not understand the lunacy of only offering the help on new builds, for the housing stock will still be reduced, as no one is going to buy a 5 bed Victorian house for £500k with a lovely garden, character and fine features, if they can buy a brand new 5 bed box on a link estate with £100k of the governments money. It's going to create many more problems than it will solve.

It will simply render the older houses useless, as well as the new houses, once they've been sold once. You're going to create a lot of negative equity very quickly, imo.

would almost make sense if it were linked to the energy efficiency cert.

[Old Hack]

would almost make sense if it were linked to the energy efficiency cert.

It's just to get Wimpeys, Taylors, etc, etc working again. Ill thought out though.

[DimPrawn]

It's just to get Wimpeys, Taylors, etc, etc working again. Ill thought out though.

The UK housebuilders are major Tory party donors......connect the dots!

Rotten to the core.

[Old Hack]

The UK housebuilders are major Tory party donors......connect the dots!

Rotten to the core.

Apologies, I thought I inferred that!

Helping people sell their older houses isn't going to get them moolah!

[fullyautomatix]

This has to be the daftest idea to come out of this government. Just what they are trying to achieve is beyond me. If someone cannot afford a deposit he cannot afford a house. Simples. Next they will start giving out cash to buy a Aston Martin.
What is it with every government trying to pump up house prices ?

[DimPrawn]

This has to be the daftest idea to come out of this government. Just what they are trying to achieve is beyond me. If someone cannot afford a deposit he cannot afford a house. Simples. Next they will start giving out cash to buy a Aston Martin.
What is it with every government trying to pump up house prices ?

We can all become rich selling our houses to each other over and over again.

Simples!