johnnyone

It seems to me it it is not such a bad idea as long as the deposit is refundable at some time.

If it were to go ahead perhaps it should be on the basis that the council take ownership of the proportion of the property that is purchased, similar to shared ownership but without taking any rent for the portion they own.

Domino

Wasn't Wandsworth one of those London Boroughs that had fraud running through the centre of it ??? All based around "donations" to immigrant charities that mysteriously failed when an inspector came round ??

As you say not such a bad idea if the money was to be recoverable - but that is about as likely as Rioja not getting hailstones

I can see us all muttering "told you so"" in 10 years time

jay01

why is it when someone mentions the fact that a councillor of a predominantly ethnic council and ethnic area happens to be maybe very slightly biased it is racist. When I was a child many of my ethnic friends had parents who sent money out of the UK to support their families in their home countries, now they simply bring them to the UK and marry them off. Many ethnic cultures do not need the funding but will be first in the queue for the handout as I doubt that it will be scrutinised to any great detail.

The theory is fine, the concept an old one but once they are out of the social housing, lose their jobs as the work is sent to developing countries and then sell their homes for less than they bought them for who picks up the tab for the lost 50k, would it not be better to spend the XYZ 50k's on building new homes then allow the tenants to part rent and part buy the rent part will cover any interest and as they are buying the house the owner would become responsible for repairs after say 2 years ( you know the UK had something like that but it was the banks that undertook the funding, seems so long ago now)

Why should we Brits be seen to bend over and submit when in the UK, no one bends over for us as we live in any other country. To get by we should integrate and those that choose not to are the ones that have the bad experience, those that choose not to integrate into the British society but try to change it to their culture should really think is the UK the place for them or the land of their for fathers where the culture is accepted.

jackytoo

I thought it was a good idea but Jay, having read your post I can see the ptifalls. Good points

jay01

maybe more common people like us should go into politics or is it when you undertake the role any ounce of brain, common sense and integrity you may have had is removed.

Maybe becoming a politician comes more natural to the rich as they have had a lot more practice walking over little people and dismissing them without a second glance.

I know it is not a perfect solution, lol. but maybe if enough people put their heads together instead of their as**s a viable, beneficial and practical solution can be found.

HBG

It's already coalition policy to reduce the 25% deposit required for first time buyers to 5%, the other 20% being funded by the government. Wandsworth has become one of the most expensive boroughs in London, only people like Gordon Ramsey and Will Hutton can afford to live there.

I think the 50K from the council is to pay for a parking space.

steviedeluxe

My opposition to this has little or nothing to do with ethnic origins of the councillors concerned, or indeed of the origins of social housing tenants in Wandsworth. I object to A ) A council funded from general taxation, trying to buck a market, and choosing to benefit a few. Why not give free interest loans to tenants wishing to buy a car? After all, what's wrong with helping someone out.... B ) It's a kick in the teeth, to someone who's worked for years in the area, pays their rent, struggles to save the deposit, and then finds that someone who's been on housing benefit for years, can get their deposit supplied by this scheme.
Still, why should I care?

johnnyone

Isn't this the very people the scheme would be aimed at?

steviedeluxe

No, the scheme is aimed at social housing tenants (indeed, the motive for this, as far as I can ascertain is to get people away from living in rented accommodation paid by housing benefit). Not that you don't get working people in rented social housing, but nowadays you have to be in dire straits (eg homeless mothers, disabled, refugee who's been tortured etc) to qualify for a council place. Someone who's worked for years has little or no chance of getting a place, unless they are lucky enough to "inherit" a tenancy via family. As I say, I think this scheme continues to send out the wrong signals, but hey, maybe it's none of my business as I don't live in Wandsworth. I suspect though, other councils will implement this if the scheme goes ahead in Wandsworth.

JLFS

I dont think it has been well thought out either, because more people will move into social housing as the tenants with the 50k deposit move on to buy, then to give the new tenants the same advantage Isuppose that they will also qualify for the 50k.

The locals and people who are unable to get council houses will then feel doubly cheated, as the council tenants will be getting cheaper rents and the 50k to boot, while the ones in private rentals will still have to pay more and ever increasing rent with no state funded deposit to help them get on the housing ladder.

jackytoo

If people are on a low income and claim housing benefit how will they get a mortgage to buy a property?

steviedeluxe

They will get family or investor "friends" to assist them, I think.

steviedeluxe

Excellent description of how I feel about this. Still, the scheme may prove different to how we're interpreting it.

anonimouse

Quote jackytoo

If people are on a low income and claim housing benefit how will they get a mortgage to buy a property?



It's a great idea, Uncle Tom, Aunty Emma, and cousin Jim 50 k each deposit = 150k = house paid for, live together in total harmony

Domino

sounds like the muslim way of buying house - the bit you missed out is the property is owned by family company to whom they pay the rent under a rent agreement, which enables all to claim housing benefit.

Sharia works every time.