I have been on to Labour - about the sham that is the new affordable Housing Initiative excluding people who earn less than 45K.
Their response is to a new "Begin to Buy" scheme (in blue below). I was wondering what people thought of it? Is it financially possible for the state to fund this?
It looks to me like a better more flexible version of shared ownership scheme. I do like that it is not exclusivley for first time buyers - therefoe if you have bought yourself a dog box sized one bed, fall in love and have kiddies but still haven't managed to acheive that 70K salary, there is still hope!
Anyway their exact wording is in blue below.
The PDs say substantially reduce stamp duty - will this help anyone? What would it do to the housing market?
Has anybody a better idea??? This may be the time to bring it to the attention of the Politians !
Labours idea is:
Labour is committed to a ‘Begin to Buy’ scheme which will enable every working household to begin buying a home of their own, or to trade up to a home to meet their family needs.
Under this plan, the couple will be able to get a mortgage to cover a proportion of the cost of the house. The Govt will guarantee the balance of the loan taking a proportionate stake in the property. The couple will be able to gradually take full ownership of the property over the lifetime of the mortgage.
Our proposal will end the culture of exclusion that has become part and parcel of our residential property market.
Their response is to a new "Begin to Buy" scheme (in blue below). I was wondering what people thought of it? Is it financially possible for the state to fund this?
It looks to me like a better more flexible version of shared ownership scheme. I do like that it is not exclusivley for first time buyers - therefoe if you have bought yourself a dog box sized one bed, fall in love and have kiddies but still haven't managed to acheive that 70K salary, there is still hope!
Anyway their exact wording is in blue below.
The PDs say substantially reduce stamp duty - will this help anyone? What would it do to the housing market?
Has anybody a better idea??? This may be the time to bring it to the attention of the Politians !
Labours idea is:
Labour is committed to a ‘Begin to Buy’ scheme which will enable every working household to begin buying a home of their own, or to trade up to a home to meet their family needs.
Under this plan, the couple will be able to get a mortgage to cover a proportion of the cost of the house. The Govt will guarantee the balance of the loan taking a proportionate stake in the property. The couple will be able to gradually take full ownership of the property over the lifetime of the mortgage.
Our proposal will end the culture of exclusion that has become part and parcel of our residential property market.