spilldig Posted February 12, 2015 Share Posted February 12, 2015 Not enough council houses available for the people in most need after the stupid ' right to buy ' scheme........ but Hey Ho lets start GIVING away what few are left !!! Totally stupid. Agreed . Link to comment Share on other sites More sharing options...
Cyclone Posted February 12, 2015 Share Posted February 12, 2015 The idea is they get the house, then run up a massive mortgage with one of the banks. Loose the place and the bank clears up. Nice way of funnelling money from public housing into the banks while at the same time looking like you're doing something good :hihi: Where would the mortgage come from? Equity release isn't really a thing any more is it? Certainly not without a means to repay the loan. Link to comment Share on other sites More sharing options...
muddywolf Posted February 12, 2015 Share Posted February 12, 2015 I have worked solid since leaving school 12 years ago and no where near owning a home, wonder what my gift from the gov will be. Link to comment Share on other sites More sharing options...
harvey19 Posted February 12, 2015 Share Posted February 12, 2015 It would save the council responsibility and money as they will not have to collect rent, repair or modernise property and when the tenant becomes old and infirm the house will have to be sold to save the council money on care costs. Link to comment Share on other sites More sharing options...
Cyclone Posted February 12, 2015 Share Posted February 12, 2015 It would save the council responsibility and money as they will not have to collect rent, repair or modernise property and when the tenant becomes old and infirm the house will have to be sold to save the council money on care costs. Of course they would no longer own an asset worth a hundred thousand pounds and would no longer be receiving rent. So in reality it would cost them far more than they could possibly save. Link to comment Share on other sites More sharing options...
truman Posted February 12, 2015 Share Posted February 12, 2015 It would save the council responsibility and money as they will not have to collect rent, repair or modernise property and when the tenant becomes old and infirm the house will have to be sold to save the council money on care costs. Not if the tenant (new owner) sells up..they could use the cash to rent somewhere and not have any left when the time comes for any care costs..so they've been living rent free really and still don't have to pay for anything at the end..the council will have paid for everything... Link to comment Share on other sites More sharing options...
harvey19 Posted February 12, 2015 Share Posted February 12, 2015 Of course they would no longer own an asset worth a hundred thousand pounds and would no longer be receiving rent. So in reality it would cost them far more than they could possibly save. I don't know of any council houses worth a hundred thousand pounds, more like £90K. The building cost is much less than that and older property will have been paid for times over in rent. It would also save in housing benefits. Link to comment Share on other sites More sharing options...
truman Posted February 12, 2015 Share Posted February 12, 2015 I don't know of any council houses worth a hundred thousand pounds, more like £90K. The building cost is much less than that and older property will have been paid for times over in rent. It would also save in housing benefits. You reckon it's a good idea to give houses away? Why is having fewer council houses a good idea? Link to comment Share on other sites More sharing options...
harvey19 Posted February 12, 2015 Share Posted February 12, 2015 (edited) Not if the tenant (new owner) sells up..they could use the cash to rent somewhere and not have any left when the time comes for any care costs..so they've been living rent free really and still don't have to pay for anything at the end..the council will have paid for everything... The council will still have saved in repair, maintenance, modernisation and admin costs. Which will be a considerable amount if the tenant had stayed in the house for their lifetime. Add into the equation that some tenants have their rent, or part of, paid for them via benefits ---------- Post added 12-02-2015 at 11:27 ---------- You reckon it's a good idea to give houses away? Why is having fewer council houses a good idea? I am putting forward my perception of the reasoning behind Mr. Smith's idea. Edited February 12, 2015 by harvey19 Link to comment Share on other sites More sharing options...
truman Posted February 12, 2015 Share Posted February 12, 2015 (edited) The council will still have saved in repair, maintenance and admin costs. Which will be a considerable amount if the tenant had stayed in the house for their lifetime. Add into the equation that some tenants have their rent, or part of, paid for them via benefits They'd still be getting the benefits really though wouldn't they? ---------- Post added 12-02-2015 at 11:29 ---------- I am putting forward my perception of the reasoning behind Mr. Smith's idea. Do you think it's a good idea? Really simple question.. Edited February 12, 2015 by truman Link to comment Share on other sites More sharing options...
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