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Scottish Help to Buy - Ended as they're skint!


Hancock
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You know that Krankie woman isn't so bad after all.

Choose life, choose a free market capitalist property market ... unlike those cunts down in England.

https://www.telegraph.co.uk/business/2021/01/29/scottish-government-scrap-help-buy/

The Scottish Government is to scrap the Help to Buy scheme due to budget constraints.

Applications for the scheme will close in a week, following a 66.5pc cut in budget payments – or so-called "Financial Transactions" – from the Treasury. This cut was outlined in the UK Government's spending review in November.

The Scottish Help to Buy scheme gives first time buyers a loan of up to 15pc of the purchase price of a new build home. The decision does not affect similar schemes in England, Wales and Northern Ireland.

The Scottish Government had guaranteed £55m to the scheme for 2021-22, however budget cuts mean applications will not open for the period. Scottish Housing minister Kevin Stewart had previously extended the scheme in June 2020.

A document circulated to relevant parties states and first seen by The Telegraph said: "Due to current budget pressures, the Scottish Government is unable to run the Help to Buy Affordable New Build scheme (i.e. the main scheme) in 2021-22... We are today announcing that the final date for receiving applications for the main scheme is Friday 5 February.

"We understand this is unexpected and disappointing news, given our previous commitment to fully fund Help to Buy (Scotland) in 2021-22."

The First Home Fund, a £200m shared equity pilot scheme, will remain open, as will the Help to Buy Smaller Developers Scheme, which supports SME developers. 

Mr Stewart said: "As highlighted in the Scottish Budget, as a direct result of the UK Government’s Spending Review there has been a 66pc cut to the Scottish Government Financial Transactions – allocations we receive from the UK Government – with amounts to a reduction of £412m. This means we  have had to make difficult choices in how we best use these limited resources to support our shared equity schemes."

He added: “Any current approved applications which are delayed as result of Covid-19 will be funded, provided the applicant’s financial position remains unchanged."

Jennifer Kennedy of Homes for Scotland said: "With both schemes having already helped 17,500 households achieve their aspirations of owning their own home, this news will be an absolutely devastating blow for those members of the Scottish public who were looking to use these schemes to get onto or move up the property ladder.

"Coupled with the reduction in the affordable housing budget, this shock decision threatens to reverse the positive progress that has been made over recent years in addressing Scotland’s chronic undersupply of housing at a time when home has never been more important.”

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That was a beautiful shot.

Whatever the Jocks have been doing in the last few months Boris and the Tories have followed ...lets hope this continues in Sunak's budget next month.

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Innkeeper
10 hours ago, Hancock said:

That was a beautiful shot.

Whatever the Jocks have been doing in the last few months Boris and the Tories have followed ...lets hope this continues in Sunak's budget next month.

Mr Stewart said: "As highlighted in the Scottish Budget, as a direct result of the UK Government’s Spending Review there has been a 66pc cut to the Scottish Government Financial Transactions –allocations we receive from the UK Government – with amounts to a reduction of £412m.

Thats the key phrase possibly?   Surely the rest of the country will now have to follow suit....

 

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4 hours ago, Innkeeper said:

Mr Stewart said: "As highlighted in the Scottish Budget, as a direct result of the UK Government’s Spending Review there has been a 66pc cut to the Scottish Government Financial Transactions –allocations we receive from the UK Government – with amounts to a reduction of £412m.

Thats the key phrase possibly?   Surely the rest of the country will now have to follow suit....

 

Find out in a month, it is meant to be getting reduced to just FTBers.

Im hoping SDLT tax break ends 31/3 as its meant to. Then ending HTB and ending MIRAS for every BTL landlord which would be the best thing that could happen for the priced out generations.

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Noallegiance

This could be the tip of a massive sea change.

Government already signalling the necessary spending cuts?

Removing a pool of state-subsidised buyers?

Pointing toward reductions in government-sponsored consumerism?

Oh. Suits me, sir.

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1 hour ago, Noallegiance said:

 

Pointing toward reductions in government-sponsoring  consumerism property developers and banks?

Oh. Suits me, sir.

I do hope so.

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On 29/01/2021 at 22:45, Hancock said:

You know that Krankie woman isn't so bad after all.

Choose life, choose a free market capitalist property market ... unlike those cunts down in England.

https://www.telegraph.co.uk/business/2021/01/29/scottish-government-scrap-help-buy/

The Scottish Government is to scrap the Help to Buy scheme due to budget constraints.

Applications for the scheme will close in a week, following a 66.5pc cut in budget payments – or so-called "Financial Transactions" – from the Treasury. This cut was outlined in the UK Government's spending review in November.

The Scottish Help to Buy scheme gives first time buyers a loan of up to 15pc of the purchase price of a new build home. The decision does not affect similar schemes in England, Wales and Northern Ireland.

The Scottish Government had guaranteed £55m to the scheme for 2021-22, however budget cuts mean applications will not open for the period. Scottish Housing minister Kevin Stewart had previously extended the scheme in June 2020.

A document circulated to relevant parties states and first seen by The Telegraph said: "Due to current budget pressures, the Scottish Government is unable to run the Help to Buy Affordable New Build scheme (i.e. the main scheme) in 2021-22... We are today announcing that the final date for receiving applications for the main scheme is Friday 5 February.

"We understand this is unexpected and disappointing news, given our previous commitment to fully fund Help to Buy (Scotland) in 2021-22."

The First Home Fund, a £200m shared equity pilot scheme, will remain open, as will the Help to Buy Smaller Developers Scheme, which supports SME developers. 

Mr Stewart said: "As highlighted in the Scottish Budget, as a direct result of the UK Government’s Spending Review there has been a 66pc cut to the Scottish Government Financial Transactions – allocations we receive from the UK Government – with amounts to a reduction of £412m. This means we  have had to make difficult choices in how we best use these limited resources to support our shared equity schemes."

He added: “Any current approved applications which are delayed as result of Covid-19 will be funded, provided the applicant’s financial position remains unchanged."

Jennifer Kennedy of Homes for Scotland said: "With both schemes having already helped 17,500 households achieve their aspirations of owning their own home, this news will be an absolutely devastating blow for those members of the Scottish public who were looking to use these schemes to get onto or move up the property ladder.

"Coupled with the reduction in the affordable housing budget, this shock decision threatens to reverse the positive progress that has been made over recent years in addressing Scotland’s chronic undersupply of housing at a time when home has never been more important.”

ending help to buy is a good thing, the only downside of this is that this scheme was targeted at SME's which is not a good thing as we have too much of a monopoly with builders

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20 minutes ago, No One said:

ending help to buy is a good thing, the only downside of this is that this scheme was targeted at SME's which is not a good thing as we have too much of a monopoly with builders

Persimmons showed where the money ended up.

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On 29/01/2021 at 22:45, Hancock said:

You know that Krankie woman isn't so bad after all.

Choose life, choose a free market capitalist property market ... unlike those cunts down in England.

https://www.telegraph.co.uk/business/2021/01/29/scottish-government-scrap-help-buy/

The Scottish Government is to scrap the Help to Buy scheme due to budget constraints.

Looks like they are pulling the rug from under the housing ponzi scheme..

expect stamp duty to return and higher borrowing costs..

the rich have decided to bum the people who have got in at the top.. then hoover up all the houses cheap once they are bankrupted..

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1 hour ago, macca said:

Looks like they are pulling the rug from under the housing ponzi scheme..

 

I wish but i'm not seeing it just yet, need to buy somewhere by the summer as kids starting secondary school. Think thatll come too soon.

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The only way this will happen here in England is if the housebuilders can't afford to pay their government bribes or donations. If that tap gets turned off I can see it happening, but from what I can tell unfortunately housebuilders have recovered somewhat.

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18 minutes ago, spunko said:

The only way this will happen here in England is if the housebuilders can't afford to pay their government bribes or donations. If that tap gets turned off I can see it happening, but from what I can tell unfortunately housebuilders have recovered somewhat.

They might slow down giving them money with the right hand, but will produce a handout with the left.

1 month until we see what Sunaks money tree produces.

 

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