fake Posted June 21, 2013 Share Posted June 21, 2013 I would suggest that the sale of council housers have a clause in the contract saying that whoever buys the property has to live in it till they sell it again and not be allowed to rent it out. for this reason. http://www.google.co.uk/#sclient=psy-ab&q=ministers+who+own+ex+council+housers&oq=ministers+who+own+ex+council+housers&gs_l=hp.12...1603.21586.0.24976.36.36.0.0.0.0.277.3155.32j3j1.36.0.ernk_timediscountb..0.0...1.1.17.psy-ab.VJTFHhcM4M4&pbx=1&bav=on.2,or.r_cp.r_qf.&bvm=bv.48293060,d.d2k&fp=7ea3df6d65fe6bad&biw=1024&bih=563 Don't believe all that is published, especially about the Thatcher era. The simple fact is that the majority of the people that have bought council properties still live in them. Although now there may be a shortage of council housing all that means is that there is a shortage of stock. Many people that have bought them still live in them so have no effect on the housing demand, the only difference is that the now own them and are classed as private. A person selling a RTB will still have to live somewhere. Link to comment Share on other sites More sharing options...
Rayo Posted June 22, 2013 Share Posted June 22, 2013 Why would you choose an interest only mortgage if you want to build equity in a property? I have NEVER tried to pay-off a mortgage because I never had enough money after raising a family. Inflation always took care of the equity. If I never moved from my first house I would still owe the full amount 4,525 pounds with I could now pay with my Barclaycard!!! With regard to the sale council houses, I understand they do not require a deposit and give you a massive discount. Margret Thatcher's idea was very good for the poor. It was a pity that the coucils did not re-invest the billions in new-build. Link to comment Share on other sites More sharing options...
Agent Orange Posted June 22, 2013 Share Posted June 22, 2013 I have NEVER tried to pay-off a mortgage because I never had enough money after raising a family. Inflation always took care of the equity. If I never moved from my first house I would still owe the full amount 4,525 pounds with I could now pay with my Barclaycard!!! With regard to the sale council houses, I understand they do not require a deposit and give you a massive discount. Margret Thatcher's idea was very good for the poor. It was a pity that the coucils did not re-invest the billions in new-build. I don't believe councils do not offer huge discounts any longer and besides, you would still require a mortgage, which would still require some sort of deposit. Link to comment Share on other sites More sharing options...
Ms Macbeth Posted June 22, 2013 Share Posted June 22, 2013 I don't believe councils do not offer huge discounts any longer and besides, you would still require a mortgage, which would still require some sort of deposit. Discounts have actually been increased under this government. 'The main changes to Right to Buy that took effect from 2 April 2012 were: the maximum discount that buyers can get on the market value of their home was increased to £75,000 (from 25 March 2013, this increased further to £100,000 in London boroughs)' https://www.gov.uk/government/policies/helping-people-to-buy-a-home/supporting-pages/right-to-buy Link to comment Share on other sites More sharing options...
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