From The Guardian, 26 July 2009:
First time home buyers could be thrown a lifeline under plans being considered by the Treasury to underwrite 'risky' mortgages, allowing people with only small deposits to buy homes.
Since the credit crunch took hold, banks have demanded far tougher criteria for lending, asking buyers to provide between 25% and 30% of the price of a home as a deposit.
From The Guardian, 21 November 2011:
Among the plans is a scheme that will give a helping hand to 100,000 prospective buyers currently frozen out of the housing market because of the need for large deposits.
Banks are currently demanding deposits of up to 20% of the value of a property from first-time buyers. Under the proposals, homebuyers will be able to secure loans on a newly built home with only a 5% deposit.
I Guess She Just Couldn't Be The Bigger Person About It..?
45 minutes ago
9 comments:
The affordability of FTB housing will fall by the amount of the subsidy. In effect a subsidy to land owners, not FTBs.
That was AC1.
You just gotta love this "government is holding a pistol to our heads" aka "we want an even bigger taxpayer backed indemnity" rent seeking tale http://www.guardian.co.uk/money/2011/nov/21/mortgage-guarantee-scheme-concerns-lenders
After all, it ain't like if they really don't want to participate because the size of the "taxpayer backed indemnity" is too low the answer is quite simple - don't. As in just don't offer anyone a mortgage with any taxpayer underwritten indemnity propping it up - simples !
AC1, yup, nearly everything the government does is a subsidy to land values, or just straightforward theft.
Anon, that article beggars belief.
Crumbs it's worse than we imagine.
http://quantitativepolitics.blogspot.com/2011/11/government-set-to-help-established.html
AC1
This really boils my pi$$
QP, meet the new boss...
AC1, but it's hardly unexpected. If you turn that post around and start with the premise that the gov't policy is to help established homeowners, and this is how they are going to do it, and how they are going to sell it to the GBP, then it all makes good political sense. Pity the poor bastards who fall for the bullshit, though.
Hi there, You've done an excellent job. I will definitely digg it and personally recommend to my friends. I'm sure they will be benefited from this site.
Newcastle Home Loans
Post a Comment