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The Country is broke, we all know that, 'cept the politicians?
Now they are prepared to give you 40% to pay the banks deposit so you can get onto the property ladder.
As if we haven't given the banks enough money already to bail them out of their GREED.

I drive around and the state of roads/streets is appalling, yet money is promised to help bankers make more profit.
When all else fails, they will be quick to tell us to blame the previous government as when they took over from Labour, there was no money in the coffers.
Great

Have you noticed too, that some of these banks are still reporting losses,,, Yet see fit to pay staff bonuses ?

Whilst I can see their chain of thought about new houses being built so more jobs and maybe helping people to get out of rented houses etc, I see so many issues with it and can see it all ending in tears.

If you cant afford to save a deposit, do you have enough money to buy a house and then have enough for any repairs/boiler breakdowns etc?

If this deposit help is only valid on new build homes, there is a good chance people will end up with negative equity or not being able to sell at all when they need to. With this many new homes being built now and no help for people buying them 2nd hand, I just cant see the demand in a few years time.

Lastly, if somebody only has a 5% stake in their house and have the issues I mention above, whats to stop them handing the keys back and letting the government deal with the mess. After all, that's why the bank want a deposit - to make sure their risk is minimized as you have a lot to risk too!

Think I should run for office, would sort this country out pretty quickly

they aren't losing money, they are losing profits....

take energy companies for example, if they are not meeting the forecast on the profit margins for the past year they hike up the price per unit.

same with everything; you pay the money and companies get used to receiving that money and start borrowing/lending based on that margin and by pushing the margins and estimating that they will go above their margins and when they don't succeed and the margins are less then they have to get themselves out of trouble by maintaining that original margin....

its been brewing for a while and it will probably get a whole lot worse before it gets better.

We are supposed to be living in a free society, yet every company is corrupt....cartels everywhere, soap powder prices are fixed ( case was brought with evidence in Germany) yet all international companies fix everything.....paint, tool prices, DIY goods everything.......why can't I buy my gas from a European country ?

You probably do buy your gas from abroad........it is tankered over here on ship, there is a storage facility in Wales lol.ng



Now, isn't it surprising that the gov't want to get the housing market and new build shifting in time for the next influx of eastern european workers.

The Gas issue.....what I meant was all energy suppliers use same gas pipes, but all our energy suppliers are a Cartel.......so it would be great if we could bulk buy as a group and undercut British suppliers !

Question......best country to emigrate to with low taxes ? ........ Probably would not allow us in !

kintangoman wrote: Now they are prepared to give you 40% to pay the banks deposit so you can get onto the property ladder.
As if we haven't given the banks enough money already to bail them out of their GREED.

not sure i follow its not putting money into the bank its actually the opposite

a house costs say £10000 the 40% =£4000 off that is paid to who ever is selling the house

its always been the case with the odd exception
you want to borrow £10000 the bank/mortgage provider will only lend say £88000 you have to find the other £12000

The line between buying energy and making your own is very, very blurred right now. With a diesel genny running red diesel it can be CHEAPER than buyiing from the utilities! Anyway, I don't trust the system to keep the supplies running for that much longer unless we change our attitudes towards EU rules (LCPD and CO2 savings) so have a genny as a 'necessity'.

big-all, do the banks actually give the 40% to the house seller? hhhhmmmm.

If a house is worth £100,000, and the government gives £40,000 (40% I think),then the banks are only providing the balance £60,000. If six months down the line, the new owner defaults and the banks reposes the house. If they sell it for £100,000, they make a profit, one way or the other. That's my view. I may be wrong

happy handyman wrote:The Gas issue.....what I meant was all energy suppliers use same gas pipes, but all our energy suppliers are a Cartel.......so it would be great if we could bulk buy as a group and undercut British suppliers !

Question......best country to emigrate to with low taxes ? ........ Probably would not allow us in !

Before I met my current wife and was still working abroad, I looked into a few countries to settle in instead of coming back to the UK full time. Panama was in top 3 on my list and at the time, about 6 years ago, in the top 10 retirement destinations in the world.

Unfortunately the Maldives was out of the question because you need to be Maldivian to buy property.

kintangoman wrote:big-all, do the banks actually give the 40% to the house seller? hhhhmmmm.

its part off the selling price you agree the price and sell at that price
you dont sell a house with a promise to get the rest at another date

if you dont understand the way house selling works its on a set date at a specific time the full amount changes hands and the ownership changes hands

now you can have shared ownership but the full amount changes hands between the parties but each have assets for there share

the point i am making is they cannot just simply pocket the money as it needs to be paid for the asset[the house] to be transferred

yes they could make money on the deal but only a percentage but as agreed they simply cant pocket the money in the way you think

Royaloakcarpentry.....tha Maldives.....amazing......I should have married a Madavian......but only discovered the islands on my honeymoon !

royaloakcarpentry wrote:

happy handyman wrote:The Gas issue.....what I meant was all energy suppliers use same gas pipes, but all our energy suppliers are a Cartel.......so it would be great if we could bulk buy as a group and undercut British suppliers !

Question......best country to emigrate to with low taxes ? ........ Probably would not allow us in !

Before I met my current wife and was still working abroad, I looked into a few countries to settle in instead of coming back to the UK full time. Panama was in top 3 on my list and at the time, about 6 years ago, in the top 10 retirement destinations in the world.

Unfortunately the Maldives was out of the question because you need to be Maldivian to buy property.

My son has just visited Panama and he has said it is the most beautiful country he has seen, not sure on his ability to make rational choices as the last time he came home, he couldn't wait to go to KFC and McDonald's as he had been craving them for weeks lol


Cheers, John

happy handyman wrote:Royaloakcarpentry.....tha Maldives.....amazing......I should have married a Madavian......but only discovered the islands on my honeymoon !

I used to go diving a few times a year out there.

Took the current wife on honeymoon there, but won't be going back due to her illnesses........heat and sun is out pmsl grreeeeeeeat!