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Council gives £16,000 to first home buyers

Started by propertyfag, February 01, 2008, 10:28:01 PM

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propertyfag

Quote
A London council has launched a controversial scheme to give middle-income residents as much as £16,000 to help get them on the housing ladder.
Conservative-run Hillingdon Borough Council hopes the initiative will keep "economically viable" workers in the local economy. It is not aimed at key workers or those already receiving government support.

The pilot stage of the scheme is for just ten residents and the council has already received over 60 applications. The next stage will be to expand the scheme to 50 and the council has already earmarked £750,000.


Hmm..that's not cool. Why should one Borough get opportunities like that? If you're going to do something like that, do it across the board. Psh. What a joke.

And also, do all the "lottery winners" deserve the money? I'd first like to know *why* they're in the position they're in.

Full article here

Fionalouisa

Anyone can get a better job than they have ... even more so if your on a low wage .
Or people could have less children.
Or save.
Or move somewhere cheaper .

They need to fix why people cant afford to get on the property ladder .
If this little 'project' works .. in 10 years time .. it wont be ' oh I cant get on the ladder :( ' it will be ' ahhhh gettin mi 16k innit for me n my boyfriend who works at KFC like ' .

Ok rant over .

I hope the 'scheme' doesnt work .

:)

propertyfag

Yeah, the scheme is pretty unfair; full of loop holes and alternatives, as you just said.

vwilson

Schemes like this make my skin crawl. All it will do is maintain an overinflated property market and delay any necessary correction until a point where it becomes more necessary and more severe.

It also subsidises businesses that don't pay their staff enough for those staff to live within commutable distance of their job.

So yeah, it hacks me off too. I pay my taxes (and jesus they're expensive) because I believe in there being a safety net for the genuinely unfortunate, but owning your own house is not a birthright. A safety net is a roof above your head, not home ownership.

Ggghnnhhhhnnnhnhhh!


V

Aisha

I believe Canada has something similar going on. Last I heard, first time home buyers were getting about $7,000 from the govt.

However I don't recall there being restrictions such as picking just ten applicants worthy of the money. I think it was an all round deal in Ontario.

propertyfag

I agree with what V said. It hacks me off, too.

We might be in a better financial position, but we had to work hard for our money. What are our benefits? Pay more tax? Urgh!

simhar

This is just fuelling house prices !

cheers

simhar

email: simhar@talk21.com
web: Properite Landlord Software - http://www.properite.co.uk