francypants Posted June 21, 2013 Share Posted June 21, 2013 Wrong totally wrong ........ BUT ...... I don't blame people for jumping on the bandwagon, they'd be stupid not to. The whole scheme should not have been set up in the first place. Link to comment Share on other sites More sharing options...
WeX Posted June 21, 2013 Share Posted June 21, 2013 Yes, let's keep "the less fortunate" less fortunate! you mean "fortunate", by being given the ability to live in a house they could not afford. Link to comment Share on other sites More sharing options...
Rayo Posted June 21, 2013 Share Posted June 21, 2013 Our lass is obsessed with the idea of one day us buying the council house we're living in now, me I'm not sure about it. I don't get the obsession this country has with home ownership. If my parents had been obsessed with house ownership they wouldn't have ended-up with nothing after paying 312,000 pounds in rent to the council who did not re-invest it in housing for the young. ---------- Post added 21-06-2013 at 14:01 ---------- you mean "fortunate", by being given the ability to live in a house they could not afford. I paid less in mortgage for my first house than my parents were paying in rent and as was paying off my house, their rent was increasing. The fine houses of the rich are still here. The hovels we were dragged up in have long since been demolished. Link to comment Share on other sites More sharing options...
WeX Posted June 21, 2013 Share Posted June 21, 2013 If my parents had been obsessed with house ownership they wouldn't have ended-up with nothing after paying 312,000 pounds in rent to the council who did not re-invest it in housing for the young. ---------- Post added 21-06-2013 at 14:01 ---------- I paid less in mortgage for my first house than my parents were paying in rent and as was paying off my house, their rent was increasing. The fine houses of the rich are still here. The hovels we were dragged up in have long since been demolished. Your house is not the same as the house they rent though is it and your mortgage dos not cover all maintenance of the property either. Social housing rents are between £65-£95 per week on average, while the average UK house price is £238,976. If you can find a mortgage for £412 per month, i would be more than surprised. Link to comment Share on other sites More sharing options...
Total Chaos Posted June 21, 2013 Share Posted June 21, 2013 If 'Right to Buy' Council houses was so wrong, why has this policy continued under both Labour and Conservatives? And why won't the Coalition build more houses, are they frightened of devaluing the expensive property? It's great.I bought my apartment for half the market value,as you get a 50% discount.When i come to sell it,let's say for 60k,i will have 30-35k in my pocket.All the thanks to maggie ---------- Post added 21-06-2013 at 14:45 ---------- Where would they get the capital from? Should they reduce the amount they pay in grants to councils? - That would make some money available ... though being politicians, they'd probably spend it on something else. Pull out of meaningless wars and use the funding from that..............................oh no, will never happen as we don't want to upset the yanks. Link to comment Share on other sites More sharing options...
Rayo Posted June 21, 2013 Share Posted June 21, 2013 Your house is not the same as the house they rent though is it and your mortgage dos not cover all maintenance of the property either. Social housing rents are between £65-£95 per week on average, while the average UK house price is £238,976. If you can find a mortgage for £412 per month, i would be more than surprised. Are you suggesting that a council house is the equivelent of an average priced house? Link to comment Share on other sites More sharing options...
Agent Orange Posted June 21, 2013 Share Posted June 21, 2013 Are you suggesting that a council house is the equivelent of an average priced house? If sold for the market rate, it would sell for far less than the average priced properties, the mortgage would still probably be out of reach for most council tennants. Link to comment Share on other sites More sharing options...
Rayo Posted June 21, 2013 Share Posted June 21, 2013 If sold for the market rate, it would sell for far less than the average priced properties, the mortgage would still probably be out of reach for most council tennants. So, you're saying that even with the massive difference between the value of an average council house and 238.000, and the huge discount available for council-house tenants, an interest-only mortgage is still too much? ---------- Post added 21-06-2013 at 16:21 ---------- If sold for the market rate, it would sell for far less than the average priced properties, the mortgage would still probably be out of reach for most council tennants. What? Even with the huge discount councils are offering and an interest-only mortgage? Link to comment Share on other sites More sharing options...
WeX Posted June 21, 2013 Share Posted June 21, 2013 So, you're saying that even with the massive difference between the value of an average council house and 238.000, and the huge discount available for council-house tenants, an interest-only mortgage is still too much? Well even if you took £100,000 off that price, the mortgage would still be in the region of £700pm with a 10% deposit. The rate paid to rent a council house is not the same as the amount you would pay to buy it through a mortgage. Therefore the occupant is "fortunate" as they are living in a house they would otherwise be unable to afford. You claimed your mortgage was less than the cost to rent a council house. Which I have quoted at around £411 pm. So you either bought a house for a ridiculously small amount, or you put in a large deposit, or you bought one of these condemned houses in places like Doncaster. All of which are not a comparable situation to renting a council property. Link to comment Share on other sites More sharing options...
Rayo Posted June 21, 2013 Share Posted June 21, 2013 If sold for the market rate, it would sell for far less than the average priced properties, the mortgage would still probably be out of reach for most council tennants. What? Even with the discount coucils are offering and an interest-only mortgage? Link to comment Share on other sites More sharing options...
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