Abolish (for 1 year) the 1% stamp duty on property between £125K and £175K is not going to be much help to anyone in London or anywhere nice in the south…
PM seems to only know what houses cost in is native scotland…
Not going to emigrate back to France because it is far worth there than here but still… I can vote on the national elections so can someone that normaly doesn’t do so for once on my behalf at the next nationals… Obviously anyone but Labour will do…
I heard on the news sometime ago that the cost of renting accomodation in France is so much that people are paying rent by offering other favours to land lords and ladies :w00t:Thought you’d be back there in a shot Fred
It is pretty mental that this doesnt have an effect in london, however, although it might not have a significant impact on London or the south, it must be said that for £175k I could get a stunning 3 bed terrace in a lovely part of liverpool or anywhere other than london or the south.
what also needs to be said is that this change is aimed at helping those people in the country who most need tax rebates, namely those on low incomes. Its not aimed at providing tax relief to those who can afford to pay the tax.
The stamp duty thing is a red herring. The most it will save anyone is £1,750 (which isn’t peanuts, but is a drop in the ocean when you’re thinking about all the costs of buying a house and moving into it. I can’t see that it will change anyone’s behaviour).
What really p1sses me off is the schemes to “restart” the housing market and to bail out people who have over-borrowed to buy houses at extortionate prices, and then are complaining when they can’t pay it back.
I can’t afford to buy in London, so I rent. Now, my taxes will go to help bail out people who have taken 100%-plus mortgages and who can’t afford to pay them back when interest rates go up 1%.
If these people have to sell their houses: (1) it’s a fair bet that unless they’ve bought in the last year they will still have made money on their house, and (2) even if they end up being repossessed, they will be no worse off than someone who never bought a house in the first place (i.e. a lot of the population)
I’m beginning to wish I’d been an irresponsible borrower from Day 1.
Nail on the head there - I’m firmly of the opinion, if you max out your finances taking out a mortgage, you are a fool… I’ve got a mate who with a combined income of £100k bought a £550k home… with a 100% mortgage on a 1 year fixed rate (the year is up next month) and I’ve told him its only a matter of months before he has to sell at a huge loss to himself.the people who buy houses and then sell them making a fortune are not complaining when they have £100k in their bank, but prices drop and they then enter the negative equity phase and they bitch and moan that they should be ‘bailed’ out.I dont think the gov’t should be bailing anyone out in this instance, instead they need to concentrate on educating people that they need to be fiscally responsible… I know i come across as a heartless bastard, but I have been saving for 5 years to afford a house in london and I dont see why someone who only saved for a year and then thought they’d make a buck should be bailed out when it goes tits up…
What you people do not get is that the housing market is the fondation of most of our economy. When people fell poor, they stop spending, when they stop spending, companies go bust and people loose their jobs… I grow up in a 12% inflation econmoy with 15% unemployment, I do not whish to have to live in it again during my working life…So as the lenders are mostly responsible for the irresponsible borrowing as they let it happen and even encouraged it, they should be forced to remortgage any property at discounted rate to the people that come to the end of their fixed rate and are in negative equity
I dont know - this makes shared ownership more possible…?! I do see your point, though, consider that if 100,000 took up the offer, that’s 175 million pounds of taxpayer money/budget that’s not being spent elsewhere…like on providing access to non profit mortgage advisors who’s job is to find low cost mortgages during credit crisis time and getting help with funding… There’s also a scheme in Scotland, where those in mortgage debt/arrears and at risk of being evicted can apply to the Landlord scheme, which allows the purchase of the property that the debtors are living in by a third party for the cost of the remaining mortgage and to agree an amount to be paid to the landlord by the debtors as tennants… (kills the two birds of allowing purchase of cheap property and getting people out of debt)…
There are plenty of things that could be done - it’s just that people keep complaining about stamp duty, so that’s what is ‘politically positive’ at the moment… i.e. what the Government thinks Tom and Theresa Taxpayer would want.
The recession whether you believe its coming or is already here is pretty much a worldwide thing (barring China/India but their growth is dipping too) and is mainly due to the huge increase in the price of oil, which is increasing the costs of just about everything. Which makes the price of fuel the foundation of the economy Housing prices are just easier to relate to as a 10k drop on a house is more dramatic than x £’s on a barrel of oil.oh you can also get a 3 bed terrace round here for less than 150k, and its only 30/40 minutes the the city.
the only thing this government wants is your vote and thats the reason they are coming up with this ideas the same way as they did when they froze the fuel tax…for now that is!!
We haven’t been building enough housing to satisfy demand for years now. The government should have implemented incentives for house builders (tax breaks etc) years ago to kick start a proper house/flat building programme - preferrably on brown field sites.
The way I see it is if the government do nothing, people moan. If they scrap stamp duty to try and help people, they moan - either it isn’t enough or people moan because they had to pay it last year.
Either way people moan! If I was about to buy a house I would say thanks for the £1750, I would rather have it in my pocket than somebody elses. Remember too the government need to make up this money from somewhere - no doubt more maoning because they are not happy with the way it is being done. (I wonder how many of the people moaning voted?)
As others have said above, nobody wrote a letter to the government last year saying thanks for the massive profits they made on the property market. Nor did they check before mortgaging themselves to the limit!
There are ups and downs in everything, including the property market and the economy. It is each man for himself and we need to make sure we can support ourselves in the ups and downs. It is nobody else fault if we cant! Saying all that I still think Brown is a twat;)
Exactly why we decided to NOT move this year, but instead pay off other bills, enjoy life and accept that our little house is enough :DFew guys at work have done the same as your mate, albeit a couple of years back when mortgages were even lower. I was slightly jealous back then but 4yrs on and they’re struggling. It’s all worth it apparently - they have an extra bedroom!! Which is empty ofcourse apart from dirty washing and a PC :crazy:I think the stamp duty freeze will help London. There’s a lot of empty flats out there under that price, which is partly the Governments plan, to many were built, and are still being built and left empty.I’ll be out of London like a shot next year. I can buy bigger for the same money, 20mins on the train and save the bike for proper roads Loved London when I moved here, two yrs later I hated it and I’ll have hated it for a total of 3yrs before I get out
Housing prices are just easier to relate to as a 10k drop on a house is more dramatic than x £’s on a barrel of oil.oh you can also get a 3 bed terrace round here for less than 150k, and its only 30/40 minutes the the city.