Help To Buy & Shared Ownnership are bum deals!

[mudskipper]

Looks like I misremembered her tweets (I only glanced through them) and it was around November she bought the place. Note that the small print on the RightMove page says the Land Registry data only goes up to November.

Anyway, here's a more detailed piece about it all: How A Single Mother Became The Target Of Internet Hate After Meeting David Cameron - whatever the facts, though, I suspect she's regretting ever getting involved with Cameron's publicity machine

I do feel sorry for her - and I know some on here have looked at how to use the scheme, so it's clearly not only helping the 'struggling' - and that's the scheme's fault, not hers. Although it does make her an odd choice - surely there's someone out there who genuinely has been helped to buy their first house?

The bit I had a problem with is that it didn't look like she'd actually bought the flat at all. No doubt the Land Registry data will update soon, although I wonder why it's still on Rightmove (sold STC)

[ASB]

surely there's someone out there who genuinely has been helped to buy their first house?

My daughter.

ISTR reading 600 used the scheme she did. Thats the previous scheme.

lord knows how much it cost to set up etc. And how much it will cist going forwards.

[hgllgh]

Which was my original position; it's holding it off, but they all will, for it's starting to get too big to fail, much like the banks.

There will be a public outcry, complaints of mis-selling, and it will be swept up.

Jump on, while you can. We've, literally, just sold all of our properties, and have bought one larger one, in Devon. However, due to the kids age, we're not moving to Devon until next year. We were going to rent for a year, but now we'll buy, as this will lift the market 5%+ over the next year. Buy a smaller <£250k house, and minimise your duties, and this is a free years living, plus some...

there will also be a public outcry if taxpayer money has essentially been given away at 0% interest to fund private mortgages. It think you got that one wrong. Do you really think that a government would just give money to private individuals who are not benefit claimants or the like? I don't think there is any chance of that happening. They will stick to the sliding scale in increasing interest on the equity loan part of the mortgage. Like I mentioned before, that is what people are signing up to.

[SpontaneousOrder]

It just shows how little Cameron and the gang actually care about the poor. It's a vote-winning scam pure & simple - immediate votes from people in the short term wanting to buy, and votes from homeowners who desperately want the housing bubble to stay inflated. But in the medium term and beyond all it does is transfer wealth from the poor to the wealthy.

[SpontaneousOrder]

I say vote winning scam - obviously it's all to keep the Ponzi economy rolling too.

[MyUserName]

We used this about 7 years ago just after we got married. We had no savings and no well off parents to bank roll us but are based in South England where the costs are fairly high. It was the only way we could see to get on the housing ladder.

Mrs MUN is a teacher so we got 17% of the mortgage paid by the council and we either have to pay 17% of the house back when we sell it or buy them out before that for whatever the actual amount was. Or it was something like that, I have forgotten the exact details.

The only inconvenience is that Mrs MUN has to stay in teaching but that has not been a big deal so far.

[mudskipper]

The bit I had a problem with is that it didn't look like she'd actually bought the flat at all. No doubt the Land Registry data will update soon, although I wonder why it's still on Rightmove (sold STC)

Still not showing as sold.
Will check next month...

House Price History

"This material was last updated on 29 January 2014. It covers the period from 03 January 1995 to 31 December 2013."

[eek]

Still not showing as sold.
Will check next month...

House Price History

"This material was last updated on 29 January 2014. It covers the period from 03 January 1995 to 31 December 2013."

depending on how fast the solicitor is in passing the information to the Land Registry and the Land Registry is in processing it. The 29 January list is probably accurate up to 30th September with bits missing after that...

[mudskipper]

And it's sold.