Boris Wants Benefits Claimants To Be Able To Buy Homes

[Hymie]

Do government ministers (and Boris) believe benefit claimants get so much money that they can afford to buy a house, or do they think houses cost of the order of £50k?

I know young people who have fairly well paid jobs, but have no chance of buying a house since mortgage companies will only lend around four times salary – and no house can be brought for less than £200k within a very long commute.

https://www.bbc.co.uk/news/uk-politics-61739816

[Togo]

Do get it right. Boris wants any such benefits whether for disability, or special needs for instance, to be accepted as income if a mortage is raised on the family home. Good move. Milllions more Conservative home owners with skin in the game of self betterment.

[bobbinwales]

Hymie would you rather not help poorer people get on the ladder.... sounds like something we should be looking at as socialists unless you believe property really does= theft so renting should be for alll

[douglas9401]

Fair play to the government, if folk can afford eye-watering rent to scumbag landlords they should be able to transfer to a mortgage.

I wonder what Homes Under The Hammer will make of it all though, having to drop the estate gougers telling us what rental the property will achieve.

In closing, usurious parasites.

[Hymie]

I’m just wondering if someone on a salary of over £35k is unable to get a mortgage, how the hell someone on benefits is?

[cashier]

They're not all poorer people though. Some people get a lot of money through benefits. It's the up to 70% off that annoys me, it means they can buy a house worth, for example, £100,000 for £30,000 if they meet the qualifiers. People working don't get this chance, and they can use their benefits to buy it.

[douglas9401]

They money diverted to profiteering landlords with 'a property portfolio' via the housing benefit system will be diverted to a mortgage company instead, giving people an asset rather than feathering the nest of absentee shysters.

I'm sure there are details to be worked out but if it levels the playing field then crack on.

[Deskdiary]

Will more of my money go towards funding this in addition to the free money benefit claimants already receive from me?

If no, then sounds great.

If yes, then no thanks.

[Hymie]

But why would the mortgage company give benefit claimants a higher multiplier on their income than someone who was in gainful employment?

[Hymie]

Perhaps young people on a good salary who cannot afford a mortgage should become benefit claimants in order to become home owners.

[Deskdiary]

I do find it peculiar that people may be paying (say) £1200 a month in rent and also being able to live comfortably, but those same people may be turned down for a (say) £1000 mortgage a month because their income doesn’t meet the qualifying criteria.

This does seem wrong to me.

[DarceyK123]

Wouldn't us taxpayers/govt be paying for their houses?

[Gromit]

These days you need about £16K to get a mortgage.
If you have £16K, you cannot claim ANY benefits.

Are they all permanently pis*ed in Downing Street, or just totally clueless about real life ?

[10ClarionSt]

They're clueless about real life, Gromit. I saw Sunak on the news today and the way he was talking, it was blatantly obvious that he didn't have the slightest idea about the reality for ordinary people. None. I had to laugh t'other week when he announced the financial help packages for people. He said these would be of great help until prices return to normal. Ha ha ha ha ha! That sums him up, right there. Clueless.

[Gromit]

The 2008 world financial crash was caused by American banks giving mortgages to people who could not afford to pay them. They passed on those dodgy sub-prime debts to the rest of the world, and everyone suffered. Downing Street is full of half pi*$ed thickos.

[Togo]

I see that the economically illiterate left wing are unable to grasp the economics. To be expected though. Allow me to enlighten you. The council and association containment cells are sold at a reduced rate which depends on the length of incarceration served there. The equity difference between the property value(when it is decorated to look less like a soviet dwelling) and the sale price is way more than the mortgage sum. The mortgage repayments are less than the rental payment to the councils and associations. As it stands all the equity built up in those proprerties, and a goodly portion of the rent, is syphoned off by the administrators of the empire building schemes to fund( you're ahead of me here again aren't you) their lavish lifestyles and gold plated pension schemes. They all vote left wing and adore their masters in Brussels.

[ToraToraTora]

That's hurt their brains togs!

[Togo]

Not much though :))

[Spicerack]

Gromit
//The 2008 world financial crash was caused by American banks giving mortgages to people who could not afford to pay them.//

Racist.

[Gromit]

Council houses are owned by local councils who are an extension of the state, so I can see how the government are able to sell those.
Housing Association properties are owned by the Associations, not the state. How is the Government able to force Associations to sell their assets?

And if the scheme works should it be extended to people renting off private landlords?

[Togo]

//And if the scheme works should it be extended to people renting off private landlords?/

Of course it should. Problem being that most private rental agreements are short term, 12 months at most, and the "qualification period for discount is therefor only months not decades, the private properties are usually worth more therefor making the mortgage figures unworkable, and the private landlords will just put the properties up for sale before they are purloined. Dohh. Got it wrong again dad.