Dingdongler

A controversial policy anyway and now it has suddenly been announced that rather than coming into play in Jan 2014 it will start next week!



What on earth is Cameron up to?


http://www.independent.co.uk/news/uk...k-8847350.html

Mouser

Thought this was about pencils at first!

Who knows what Mr C is up to?
Interesting readers comments after the Independent article.

Midlife......

iTrader: (2)

Tempted to borrow a shed load more than I owe already and buy a £600k house.........and watch it go up in value.

Even better if I was in the forces as it would be at zero percent if I read it right.

Shaun

urban

iTrader: (1)

Its all bollox - yes its being brought forward to next week, but all you can do is apply early, you cannot get any funding until Jan 1st.

They haven't released any details, and the only banks signed up to the agreement are the two with state investment.

GlesgaKiss

It's a terrible idea. Cameron's party has managed to manufacture a bit of a recovery. This may help that recovery turn into a mini-boom for the next election. That's my guess as to what it's about. Call me cynical...

All still completely unsustainable of course.

Matteeboy

The Tories have just lost my vote with this one.
Deeply disappointed, utterly retarded.

GlesgaKiss

Retarded is the only word for it.

"But on the eve of his party conference getting underway in Manchester, Mr Cameron said that as things stand people who “don’t have rich parents” – even those with good jobs and solid prospects – are still unable to afford the most modest first homes."

And I wonder why that is? Nothing to do with current inflated prices due to monetary policy and previous bad lending... but hey, rather than tackle the source of the problem, let's add some fuel to the fire and push prices even higher relative to income.

scunnered

iTrader: (1)

This government seriously needs adequate responsible adult supervision.

tony de wonderful

Only a politician could look you in the eye and avoid the elephant in the room which is maybe...just maybe...house prices are too high.

Anyway the US got into trouble with Fannie Mae and Freddy Mac a few years ago. The federal government used these institutions to issues subprime mortages to people who ordinarily wouldn't have been able to borrow (too risky). Bush wanted to give everyone a chance at the American dream. The Tories are doing the exact same thing now, just for now it's not quite on the same scale but still cause for concern. I think the government thinks in can keep an eye on the housing market and turn this off like a tap if a bubble develops. If only things were so simple.

Anyway why am I as a taxpayer taking on the risk of private investments in property? It's outrageous.

Dingdongler

That's about it in a nutshell.

Prices are edging up but transaction volumes are still half of what they were pre crash. To get the mini boom they want they need those volumes to increase.