How does Help to Buy END!

[lovelyboy]

This will come as no surprise to DOSBODS...

House price crash to smash UK finances: Taxpayers face £25bn bill in Help to Buy horror (msn.com)

Quote

In a desperate bid to help first-time buyers get on the property ladder, the government decided to give them a helping hand. Using taxpayers' money.

In 2013, former Chancellor George Osborne unleashed the Help to Buy scheme. Last year, Rishi Sunak follow this up with the Mortgage Guarantee Scheme.

In both cases, taxpayers are backstopping high loan-to-value (LTV) mortgages that banks and building societies deemed too dangerous to offer themselves.

If house prices crash and indebted buyers hand back the key to their homes, the banks are in the clear. Taxpayers will clear up the mess and the total liability is heading towards £25billion.

 

[One percent]

8 minutes ago, lovelyboy said:

This will come as no surprise to DOSBODS...

House price crash to smash UK finances: Taxpayers face £25bn bill in Help to Buy horror (msn.com)

 

A mere drop in the ocean. Remind me, how much did they spend on track and trace? On the protective equipment?  On furlough?  I’m not defending it but pointing out that the establishment must be trying to crash the economy.   

[Stuey]

Bail-in on the way.

Be prepared 

[spygirl]

Where there is a problem - and its mainly in London - I know how itll end up.

UKGOV will commission a survey and find that a lot of places are shoddy built and force the builder to buy back at cost.

And Im serious about this.

 

 

[MMax]

11 hours ago, spygirl said:

Where there is a problem - and its mainly in London - I know how itll end up.

UKGOV will commission a survey and find that a lot of places are shoddy built and force the builder to buy back at cost.

And Im serious about this.

 

 

I can't see that.  They already have a multi billion problem throughout the country with cladding, which they are fudging and not really fixing.  The same applies in Scotland where there has been virtually no progress despite all the rhetoric.  The problem is too big and costly.  They are going to try and keep kicking the can down the road.

[AlfredTheLittle]

11 hours ago, spygirl said:

Where there is a problem - and its mainly in London - I know how itll end up.

UKGOV will commission a survey and find that a lot of places are shoddy built and force the builder to buy back at cost.

And Im serious about this.

 

 

Builder transfers assets to a new company and carries on as before. Government fucked.

[One percent]

46 minutes ago, MMax said:

I can't see that.  They already have a multi billion problem throughout the country with cladding, which they are fudging and not really fixing.  The same applies in Scotland where there has been virtually no progress despite all the rhetoric.  The problem is too big and costly.  They are going to try and keep kicking the can down the road.

Agree. Also, the government and house builders seem to be in bed together 

[Wight Flight]

15 minutes ago, AlfredTheLittle said:

Builder transfers assets to a new company and carries on as before. Government fucked.

Look up the name of London's biggest house builder.

Then find the name of the managing director.

Then go to companies house and see how many hundreds of directorships he has.

Every single development is ringfenced. They can just bust one at will with very little financial damage to the group.