Johnson's Right to Buy.

C

Chris_Boro

Well-known member
Boris Johnson's newest polished turd is to allow benefits to be counted when applying for a mortgage.

Only slight downside, apart from the obvious, is that any deposit will be classed as savings which means the loss of said benefits.

🤦🏻‍♂️
 
It won't work. They are also promising for every home sold a new, affordable one, will be built to replace it. We have heard this before and it doesn't happen.

All it will do is cause the housing market to inflate again. Signs are it's stagnating and the Tories won't like that.
 
Just the expand on the "obvious" part of my OP that if these types of mortgages are accepted, they would be classed as sub-prime.

Now where have we heard that term before?
 
This is a way of the tax payer funding private housing. And if they need benefits how would they afford the mortgage?- unless of course it is subsidised yet again by the tax payer.
 
Trug said:
This is a way of the tax payer funding private housing. And if they need benefits how would they afford the mortgage?- unless of course it is subsidised yet again by the tax payer.
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No new money added apparently so again not thought through...just like the 40 new hospitals that aren't new hospitals or the extra 13000 police offers despite cutting 20000, it's laughable anyone even considers voting for them.
 
Think he is seriously underestimating the cost of living crisis if he thinks many benefit claimants have the disposable income to be saving for a mortgage deposit
No way this can work, finding the deposit will be impossible and will then wipe out any benefit entitlement leaving a reduced or no income
Would any mortgage company accept someone on a low/insecure income
And wouldnt it just increase the housing shortage if the best properties are being sold off?

Add it to the 40 new hospitals being build and the rest of the empty promises
 
Ahhhhh, it’s all falling into place now.

About 12 months ago I read an article that the big banks want to get into the private rental market.

This is how I think it’ll work....

The housing allowance will be enough to service the mortgage interest for a house which is now owned by the mortgage company. Effectively the banks now own the house with zero capital outlay, and the government (tax payer) pays them the interest (rent). Continuing the conservative raison d'etra of robbing the poor to give to the rich. I despise those b*st*rds
 
Another headline grabbing but ill thought through policy that will ultimately benefit and affect nobody.

Like Rwanda deportations, its all about the headlines and nothing else. Apparently whats stopping those deportations is campaigning left lawyers, not the actual law or anything :rolleyes:
 
MolteniArcore said:
It won't work. They are also promising for every home sold a new, affordable one, will be built to replace it. We have heard this before and it doesn't happen.

All it will do is cause the housing market to inflate again. Signs are it's stagnating and the Tories won't like that.
Click to expand...
Quetsion asked to Gove today said the average price of the homes being sold is around £13400 but the cost to replace them is £23000 a shortfall of almost £100000. So for every house they sell the Government has to subsidise new build by £100000. That anit going to happen. Another non story to deflect away from the Governments issues.
 
asredastheycome said:
Quetsion asked to Gove today said the average price of the homes being sold is around £13400 but the cost to replace them is £23000 a shortfall of almost £100000. So for every house they sell the Government has to subsidise new build by £100000. That anit going to happen. Another non story to deflect away from the Governments issues.
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Exactly. And if a house costs £230,000 to build the companies (obviously private) will want a profit... Right to buy failed the first time, no idea why they think it will be amazing this time round.

More deflection tactics though - we are discussing this and not the confidence vote.
 
JM14 said:
Think he is seriously underestimating the cost of living crisis if he thinks many benefit claimants have the disposable income to be saving for a mortgage deposit
No way this can work, finding the deposit will be impossible and will then wipe out any benefit entitlement leaving a reduced or no income
Would any mortgage company accept someone on a low/insecure income
And wouldnt it just increase the housing shortage if the best properties are being sold off?

Add it to the 40 new hospitals being build and the rest of the empty promises
Click to expand...
you're talking about a man who considers £250,000 salary as a newspaper columnist 'chicken feed'
 
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