Guest Guest 47403 Posted March 21, 2013 Share Posted March 21, 2013 So yet again under the Tories the rich will get richer....................................Quentin Tarantino couldn't come up with a script like this!!!!!!!! I can not believe how anyone other than the very rich and aristocracy can vote for these fools, any working/middle class person who puts an X next to them is living in dream world...they do not care about you! Every policy they have is geared up to look after there own!! [h=2]Row over Budget home loans plan[/h] A row has erupted over whether a Budget initiative aimed at helping people get on the housing ladder could be used to fund the purchase of second homes. Under the scheme, due to start next January, loans for those putting down 5% deposits would be guaranteed. Labour said there was nothing to stop people using it to buy second homes. The Treasury says this is not the point of the scheme but parents may be allowed to buy homes for their children when it is finalised. The Help to Buy scheme was one of the most eye-catching initiatives in Wednesday's Budget, but Labour has said the policy is beset by confusion amid questions about who might benefit. The aim of the policy, which will be available for homes up to £600,000 from January 2014, is to breathe new life into the housing market, which has been hit by banks demanding bigger deposits from homebuyers. The final details have yet to be worked out but it could facilitate £130bn of home loans over three years. Treasury sources initially stressed to the BBC that it was not designed for second homes but they would not be specifically excluded. As the government sought to clarify the situation, Housing Minister Mark Prisk denied suggestions by Labour shadow chancellor Ed Balls that the Help to Buy scheme was potentially a second-home "subsidy". The minister told the BBC applicants would have to "divest" their existing properties if they were to qualify for help. But No 10 later had to clarify its position. A Downing Street spokesman said Mr Prisk had been referring to another part of the Help to Buy scheme, called the "equity loan scheme". This starts on 1 April 2013 and will help people who want to buy a new-build property in England only, unlike the mortgage guarantee scheme, which will be UK-wide. No 10 insisted the government's overall approach was "clear and coherent" and designed to overcome obstacles in the mortgage market that were stopping people from getting finance and reducing the number of new homes being built. "I don't think the government makes any apology for recognising the desire that a good number of families have to enter the housing market," said the prime minister's official spokesman. The BBC's chief political correspondent, Norman Smith, said Treasury officials were trying to work out a definition of the rules surrounding eligibility for the mortgage guarantee scheme that allowed parents to buy a home for their children but not to buy a holiday home. Full article http://www.bbc.co.uk/news/uk-politics-21881007 Quote Link to comment Share on other sites More sharing options...
Freesia Posted March 21, 2013 Share Posted March 21, 2013 are you having a laugh? You really really can't see any positives for the general working population in this budget? You must be in a very determined mood . Quote Link to comment Share on other sites More sharing options...
StevieF8 Posted March 21, 2013 Share Posted March 21, 2013 A few points: 1. It's not illegal to be rich in the UK, this is a free country, this is not North Korea 2. Who cares who buys the houses? They have to be new build only to get the 20% loan, which means creating jobs in the construction, makes money for the Government on the interest on the loans 3. Helps people who can't get on the housing ladder a helping hand 4. The finer details have still to be ironed out Wasn't it Labour who signed up to loads of PFI schemes that proved to cost more money to run than they will ever make?, this, on the face of it, looks like a good idea. Quote Link to comment Share on other sites More sharing options...
Perthbum Posted March 21, 2013 Share Posted March 21, 2013 are you having a laugh? You really really can't see any positives for the general working population in this budget? You must be in a very determined mood . What positives? Quote Link to comment Share on other sites More sharing options...
Guest scrumpy Posted March 22, 2013 Share Posted March 22, 2013 This 20% deposit scheme will be fantastic for the likes of me in construction industy, if it pans out as stated so far. However I think all it will do is prop up or fuel house price increases on the whole, which cant be a good thing when we look at the sub-prime mistakes of other countries. The more people who can afford houses the greater the demand, the other problem which seems to be forgoten is that the "runs between the ladder" are way to far apart. So so hard for a couple to buy a house, then have kids and need a bigger house, it must be harder going up the ladder then trying to get on it. We will just have to wait and see what happens, unless you have got a crystall ball, and if so where have you been???? Quote Link to comment Share on other sites More sharing options...
newjez Posted March 22, 2013 Share Posted March 22, 2013 Is the 20% loan transferable - or are they stuck till they pay it off? I can see it being of benefit to first time buyers, but not for first time sellers, which is essentially where the problem is. If they want to lubricate the housing market they should allow it for new and existing houses Quote Link to comment Share on other sites More sharing options...
Guest Andy Posted March 22, 2013 Share Posted March 22, 2013 So yet again under the Tories the rich will get richer....................................Quentin Tarantino couldn't come up with a script like this!!!!!!!! I can not believe how anyone other than the very rich and aristocracy can vote for these fools, any working/middle class person who puts an X next to them is living in dream world...they do not care about you! Every policy they have is geared up to look after there own!! Row over Budget home loans plan A row has erupted over whether a Budget initiative aimed at helping people get on the housing ladder could be used to fund the purchase of second homes. Under the scheme, due to start next January, loans for those putting down 5% deposits would be guaranteed. Labour said there was nothing to stop people using it to buy second homes. The Treasury says this is not the point of the scheme but parents may be allowed to buy homes for their children when it is finalised. The Help to Buy scheme was one of the most eye-catching initiatives in Wednesday's Budget, but Labour has said the policy is beset by confusion amid questions about who might benefit. The aim of the policy, which will be available for homes up to £600,000 from January 2014, is to breathe new life into the housing market, which has been hit by banks demanding bigger deposits from homebuyers. The final details have yet to be worked out but it could facilitate £130bn of home loans over three years. Treasury sources initially stressed to the BBC that it was not designed for second homes but they would not be specifically excluded. As the government sought to clarify the situation, Housing Minister Mark Prisk denied suggestions by Labour shadow chancellor Ed Balls that the Help to Buy scheme was potentially a second-home "subsidy". The minister told the BBC applicants would have to "divest" their existing properties if they were to qualify for help. But No 10 later had to clarify its position. A Downing Street spokesman said Mr Prisk had been referring to another part of the Help to Buy scheme, called the "equity loan scheme". This starts on 1 April 2013 and will help people who want to buy a new-build property in England only, unlike the mortgage guarantee scheme, which will be UK-wide. No 10 insisted the government's overall approach was "clear and coherent" and designed to overcome obstacles in the mortgage market that were stopping people from getting finance and reducing the number of new homes being built. "I don't think the government makes any apology for recognising the desire that a good number of families have to enter the housing market," said the prime minister's official spokesman. The BBC's chief political correspondent, Norman Smith, said Treasury officials were trying to work out a definition of the rules surrounding eligibility for the mortgage guarantee scheme that allowed parents to buy a home for their children but not to buy a holiday home. Full article http://www.bbc.co.uk/news/uk-politics-21881007 Thanks for that but i can make my own mind up who to vote for without being told i am not living in the real world. Quote Link to comment Share on other sites More sharing options...
Rupert Posted March 22, 2013 Share Posted March 22, 2013 It's just a loan Baz, not a hand out. As the stated aim is to breathe life into the housing market, then it doesn't matter who buys the house or for what purpose. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 22, 2013 Share Posted March 22, 2013 If that hacks you off you better read the tax laws in Oz mate. If havent much your killed with tax but soon as you have a few houses and a few spare hundred thousand life is your oyster. You can negate tax and offset all sorts. The tories have to dig labour out every time, these laws will create a few jobs which will have a multiplier effect Quote Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 22, 2013 Share Posted March 22, 2013 Well this thread kind of backfired. Seems like a very good idea to me, some will buy a second home, big deal, it is supposed to stimulate the market. Quote Link to comment Share on other sites More sharing options...
Bobbsy Posted March 22, 2013 Share Posted March 22, 2013 (edited) It's just a loan Baz, not a hand out. As the stated aim is to breathe life into the housing market, then it doesn't matter who buys the house or for what purpose. It's a badly written article but it appears the legislation action provides for two different schemes: the "help to buy scheme" which starts next year and is for any house up to £600,000 and an "Equity Loan Scheme" starting this year which is limited to new build houses only. The stated purpose of the former is to help people onto the housing ladder; it's the Equity Loan scheme which is specifically to stimulate the construction industry. If the "Help to Buy" scheme is to help people onto the housing ladder then it's completely ludicrous to allow the purchase of second homes. If it's a second home, that person is ON the housing ladder and looking for an investment property. To me this makes Baz's contention that this will help the rich get richer pretty accurate--typical of the Tories to help their mates while cutting benefits and help for the poor. ...but I suppose it's too much to expect Conservative supporters to actually read the details and see the contradictions. Edited March 22, 2013 by Bobbsy Quote Link to comment Share on other sites More sharing options...
Rupert Posted March 22, 2013 Share Posted March 22, 2013 It's a badly written article but it appears the legislation action provides for two different schemes: the "help to buy scheme" which starts next year and is for any house up to £600,000 and an "Equity Loan Scheme" starting this year which is limited to new build houses only. The stated purpose of the former is to help people onto the housing ladder; it's the Equity Loan scheme which is specifically to stimulate the construction industry. If the "Help to Buy" scheme is to help people onto the housing ladder then it's completely ludicrous to allow the purchase of second homes. If it's a second home, that person is ON the housing ladder and looking for an investment property. To me this makes Baz's contention that this will help the rich get richer pretty accurate--typical of the Tories to help their mates while cutting benefits and help for the poor. ...but I suppose it's too much to expect Conservative supporters to actually read the details and see the contradictions. I don't want to read it, I live in Australia and it doesn't concern me. If OP wants to make a point, then he should articulate it, not expect people to go and do some further research to ind out hat on earth he might be upset about. Quote Link to comment Share on other sites More sharing options...
Bobbsy Posted March 22, 2013 Share Posted March 22, 2013 I don't want to read it, I live in Australia and it doesn't concern me. If OP wants to make a point, then he should articulate it, not expect people to go and do some further research to ind out hat on earth he might be upset about. ...and that's fair enough. Frankly I'm more concerned about Gillard vs. Abbott myself. However, if you're not going to read it then perhaps you shouldn't post what turns out to be mis-information in the thread. Also, I hardly call reading a quote in a post "going to do some further research". All the details you need were handed to you on a platter. Agree or disagree with the original poster, that's your right--but at least make sure you have enough details to make a valid comment. Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted March 22, 2013 Share Posted March 22, 2013 It always make me laugh when labour supporters try to have a rant about something like this, assuming everybody will join in, only to discover that everybody realises its a good idea. In this case, yes, some may use it for intent other than what it is planned, but i suspect that will be ironed out in the detail. It gets the housing market going again and helps those struggling to get on the housing ladder do so. Excellent policy Quote Link to comment Share on other sites More sharing options...
Rupert Posted March 22, 2013 Share Posted March 22, 2013 ...and that's fair enough. Frankly I'm more concerned about Gillard vs. Abbott myself. However, if you're not going to read it then perhaps you shouldn't post what turns out to be mis-information in the thread. Also, I hardly call reading a quote in a post "going to do some further research". All the details you need were handed to you on a platter. Agree or disagree with the original poster, that's your right--but at least make sure you have enough details to make a valid comment. I have commented on the post, on the facts presented. It said that the aim of the scheme was to breathe new life into the housing market. My assessment is that it may do that. If Op wants me to consider something else then he needs to say what that is, to articulate the argument because I am not physchic and I don't expect to have to do additional research. It's Friday night and I am just sat at home having a glass of wine on the sofa watching Top Gear. Quote Link to comment Share on other sites More sharing options...
StevieF8 Posted March 22, 2013 Share Posted March 22, 2013 So what if the rich get richer, why is this seen as a bad thing in the UK, especially by ardent Labour supporters.... One minute your banging on about investing in the economy, the next your complaining when rich people actually invest Perhaps everyone should sit around and wait for people on benefits to invest, instead of draining the economy. Quote Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 22, 2013 Share Posted March 22, 2013 (edited) Yes quite bizarre, maybe it should be the 'poor' who invest but I see an obvious flaw in that. I hope they will be equally indignant about it in Australia where the gap between the rich and poor is getting bigger, I have my doubts though So what if the rich get richer, why is this seen as a bad thing in the UK, especially by ardent Labour supporters.... One minute your banging on about investing in the economy, the next your complaining when rich people actually invest Perhaps everyone should sit around and wait for people on benefits to invest, instead of draining the economy. Edited March 22, 2013 by homewardbound588 Quote Link to comment Share on other sites More sharing options...
Bobbsy Posted March 22, 2013 Share Posted March 22, 2013 So what if the rich get richer, why is this seen as a bad thing in the UK, especially by ardent Labour supporters.... One minute your banging on about investing in the economy, the next your complaining when rich people actually invest Perhaps everyone should sit around and wait for people on benefits to invest, instead of draining the economy. Nothing wrong with the rich earning money but it sure as heck shouldn't be with the aid of taxpayers' money. As for drains on the economy, have a look at bank bail outs and the way multinational companies can use carefully constructed loopholes to avoid paying a proper level of tax. Despite the Fox News style reference to "people on benefits" the number of people abusing the system is actually very small. Most are trying hard to get back on the job market despite the recession caused by Tory/Coalition mismanagement. Pure austerity has been proven not to work and hanging onto a failed policy like this has more to do with Conservative dogma than good economic management. Quote Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 22, 2013 Share Posted March 22, 2013 The recession caused by Tory/Coalition mismanagment ? Interesting if inaccurate take on things. Quote Link to comment Share on other sites More sharing options...
Rupert Posted March 22, 2013 Share Posted March 22, 2013 Nothing wrong with the rich earning money but it sure as heck shouldn't be with the aid of taxpayers' money. Again, referring to the facts presented, this is a loan shceme isnt it? How is that using up taxpayer money? Could you explain. As an aside, I am quite sure the majority of my tax paid goes to the feckless and less well off, not the well off. I have just commented on a thread about someone that wants to cash in their super. No doubt in X years time, they wil be moaning that they don't have enough benefits to live on. As for drains on the economy, have a look at bank bail outs and the way multinational companies can use carefully constructed loopholes to avoid paying a proper level of tax. Is this related to the new home loan thing? Despite the Fox News style reference to "people on benefits" the number of people abusing the system is actually very small. Most are trying hard to get back on the job market despite the recession caused by Tory/Coalition mismanagement. Pure austerity has been proven not to work and hanging onto a failed policy like this has more to do with Conservative dogma than good economic management. OMG. Are you suggesting that they were handed a golden economy or something?? You have just lost the last scrap of any credibility you might have had with that line. :biglaugh: Quote Link to comment Share on other sites More sharing options...
Guest Guest 47403 Posted March 22, 2013 Share Posted March 22, 2013 Thanks for that but i can make my own mind up who to vote for without being told i am not living in the real world. You seem level headed Andy so I'm guessing you'll learn from your mistakes. Quote Link to comment Share on other sites More sharing options...
Guest Guest 47403 Posted March 22, 2013 Share Posted March 22, 2013 are you having a laugh? You really really can't see any positives for the general working population in this budget? You must be in a very determined mood . I think your missing the point of the article you may need to read it again. Quote Link to comment Share on other sites More sharing options...
Toolbox Posted March 22, 2013 Share Posted March 22, 2013 I don't recall the labour supporters complaining when the rich got richer year on year during the Blair/Brown years.....infact the rich did much better under Blair than Thatcher......go figure. Deep down the left love having a tory government to bash, it nicely distracts blame and attention from their own failings and also the massive failure of the Labour party. Quote Link to comment Share on other sites More sharing options...
Guest Guest 47403 Posted March 22, 2013 Share Posted March 22, 2013 It's just a loan Baz, not a hand out. As the stated aim is to breathe life into the housing market, then it doesn't matter who buys the house or for what purpose. Rupert it's not about the loan it's about the loophole of people who already own properties profitering off the back of this and increasing property portfolios on the back of a scheme designed to help people get on the ladder! A typical Tory policy which on the face of it looks good for those struggling but in reality looks after there own. Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted March 22, 2013 Share Posted March 22, 2013 Rupert it's not about the loan it's about the loophole of people who already own properties profitering off the back of this and increasing property portfolios on the back of a scheme designed to help people get on the ladder! A typical Tory policy which on the face of it looks good for those struggling but in reality looks after there own. But that doesnt matter. Yes, some will profit from it - we live in a capitalist society, so nothing wrong with that. The purpose is to stimulate house building. As for torries only looking after their own. I have never heard of such rubbish. The last labour goverment did far more to hurt the average person. Quote Link to comment Share on other sites More sharing options...
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