Top Tweets for #Help2Buy
Somebody worked hard on this but surely this is just another #Help2Buy scheme? Either we help people to afford unaffordable prices or we let the market price fall to a level that buyers can afford.
Is it time to try the latter?
🏠 Government provides an equity loan of up to 20%, interest-free for five years.
🏗️ Developers pay a fee for their buyers to access the scheme, based on a structure – for example:
• 1% on the first 250 completions
• 2% up to 1,000 completions
• 3% thereafter
This structure ensures the scheme is accessible to SME and smaller home builders, while larger developers contribute at a blended rate closer to 3%.
Government would hold the equity stake in each qualifying property, and the upfront costs would be reduced by developer’s paying a fee for their buyers to access the scheme.
If #Help2Buy was, as some wag put it, 'Crack Cocaine for the housing market' then this is a dealer asking Pablo Escobar for another shipment! https://t.co/L7A30NXw2Z
#Help2Buy is officially dead. @redditchrachel told a fringe meeting “If we incentivise through Help to Buy, First Homes, or any of these schemes, that’s great for those people, but it inflates the prices. Demand has to be balanced with the supply side.” https://t.co/sjKEmpAhyi
Analysis of more than 101,000 #Help2Buy loans repaid to March 2022 found that 12,434 — or 1 in 8 — of those properties had lost value reports @George_Nixon97.
Don't say I didn't warn you! (£)
https://t.co/mheqLZEiGa
Why not exclude these companies and any companies formed by the senior management and/or owners of these companies from #Help2Buy ?@mtpennycook @TheMurkyDepths @HomesEngland
Developers who don’t have to sign pledge to repair cladding issues, and those still holding out without excuse.
@ESurveyors How about;- the high house prices that we now have, the precipice that those who bought with #Help2Buy now face as prices fall and the risk to the taxpayer who now has a massive stake in a falling housing market.
I suspect this guy has had a lucky escape. Imagine what is going to happen to the value of a new build flat bought with #Help2Buy in a market that is already softening. https://t.co/18xpvpNsC4
@sturdyAlex @EdConwaySky @johnredwood Proliferation of housing as investment vehicles was never going to end well.
Cheap borrowing alongside a paucity of new housing has led to unsustainable property prices masked by low-interest rates & Tory giveaways: #help2buy & stamp-duty cuts.
Incoming UK housing market crash.
After the
@UKHouseofLords report, more news on #Help2Buy, the government-backed scheme that made developers richer, and left first-time buyers with unaffordable loans ❌
@Telegraph I would love a for someone to be able to live in my flat. Instead it has to lie empty, I got married, moved away and can’t sell. #help2buy won’t even let me rent it out. THIS is a problem with lack of housing
@FailedByFVNH Also lost my last chance to have a child. Did manage to get married after lockdown, but still can’t live with my husband full time. Can’t sell and #help2buy prevents me from selling. Tiny flat is now workday home (alone)
It’s not just in energy that this mistake is made. Attempts to solve the UK’s housing crisis through #Help2Buy, and looser mortgage requirements just push up demand. If supply is inelastic because of #planningrestrictions then you just end up with higher house prices. #yimby
“If I was Housing Minster, I'd be scrapping #Help2Buy & using the €30k that’s inflating price of new houses & giving it to 1st time buyers to retrofit their homes instead”@ellenmcoyne
& this should a grant after purchase
#Budget2022
@RadioBrendanRTE
https://t.co/OS2dpJnFJh
Meanwhile, the same Govt is bankrolling developers responsible for the #BuildingSafetyCrisis
They poured BILLIONS into inflationary Govt-backed schemes such as stamp duty cut & #Help2Buy while leaseholders go bankrupt to pay for building defects & failed regulations
I'm not normally one to defend energy firms, but govt refusing to bail out as 'we won't support failed biz models' is a bit rich at a time it's requiring 'em to sell energy 30% below cost
Letting more go bust means we'll all pick up the bill when they're moved to new suppliers.
@BorisJohnson If only you would #EndOurCladdingScandal #EndOurFireSafetyScandal . 2 years and counting to make progress on fixing @PotatoWharf, still no BSF decision, still can’t sell. Flat is empty now as trapped by #help2buy
@JohnWorrall11 @yimbychris @EdwardJDavey @stellastafford @RosieP4 @ExplorerDale @2ManyHouses @ianmulheirn The irony is that the two of you probably agree more than you realise. Supplysiders agree that #Help2Buy the #stampdutycut are "price pumps", we agree that the developers have too much market power, we agree that the constant push-back on environmental standards is a disgrace 1/n
Disagree. It will sadly turn a #SharedOwnership purchase into an inescapable trap.
Ask any leaseholder who is now caught up in the cladding scandal, facing life-changing bills and bankruptcy.
#Help2Buy
#EndOurCladdingScandal
#Property
Catch the latest #SOchathour podcast. Lending and mortgage availability is critical to making #sharedownership a success. In this episode, we shine spotlight on all things lending with guest @chirpy_kelly and our hosts @amynettleton1 & @AsifChoudry https://t.co/kZBBU01JnP
The dissonance between the @Conservatives extending the mortgage guarantee/#Help2Buy scheme with one hand and imposing #BuildingSafety legislation with the other legalising financial vivisection of the same homeowners it helped on the ladder in the first place is, well ...
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