Tonto Posted March 17, 2007 Share Posted March 17, 2007 Here's the latest government joke. You have a first time buyers register - so my daughter - 21, steady job, money saved up to pay a deposit - fills in the forms to register. She gets a call from someone who says words to the effect of 'dont hold your breath, you only have minimal points and you need 30+ to get a house/flat' - SO what does she have to do to get the points? Ah well, according to the website FAQ they are not discriminating against young professionals - well it certainly looks like it from where I'm sitting! Presumably she must be living in a broom cupboard with her jigsaw children from different fathers and other relationships, preferably with 1 or 2 on the way, slightly disabled perhaps or even better caring for a couple of rellies in the broom cupboard with her? I'm sorry but its making me see red, I'm sorry for people in this position, but there has to be a balance, some fairness shown otherwise what incentive is there not to go under and join the rapidly growing underclass of society who dont work and spend all their time pro-creating? And fair play to them if they get first crack at a house - can you blame them? So, we go out into the big world of finance and estate agents and start looking for somewhere to buy using the so called 'top up grant' of £25K which, added to her savings and 4-5 times her salary should get her to £140K maybe. So - we go out today and look at a variety of flats, from the sublime to the ridiculous but all in the region of £110 to £135K - and we find a purpose built practically brand spanking new one and get all excited that we think - with a bit of help and living on air for a year or 3 we might be able to afford. BUT the flat isn't big enough to qualify for the government grant!! I kid you not. The flat that she would have to take to get the grant qualifies on size but is a grotty poorly done conversion in an old house which is damp, dark and needs major revamping, no proper heating - a giant lounge and a kitchen in a matchbox and a toilet that had to be smelt to be believed. AND IT COSTS MORE THAN THE PURPOSE BUILT BRAND SPANKING NEW ONE!!!!! The estate agents told us variously that the government is using the restriction in floor size to slow the market down or even that it is a misguided attempt to stamp out situations where people are having to live in broom closets with no fire regulations - how that works in practice I dont know! Anyway, I know we all started in grotty flats and she recognises that and is willing to do that as well, but I think it is totally unfair to say you have a top up loan available and then to put such a restriction on it as to ensure the person puts themselves deeper in dept because the only flat they can then afford is a more expensive and in this case a totally unsuitable one. Sorry to all those hard working folk out there in dire circumstances not of their making but a final point - who is going to be able to pay into the future pension bills - the people with 35 points on the housing list or people like my daughter? Link to comment Share on other sites More sharing options...
Pragmatopian Posted March 18, 2007 Share Posted March 18, 2007 I'm seriously considering buying in Prague, where I can afford a nice 2 bedroom apartment with underground parking in a good central area. In London I might just be able to get a studio flat in a condemned ex-council building on a sink estate for the same price and pay exorbitant council tax and utilities bills for the privilege. I've given up the UK housing market as a lost cause for now. I'll take another look in 5 or 10 years, when the country might have come to its senses. Link to comment Share on other sites More sharing options...
mtj73 Posted March 18, 2007 Share Posted March 18, 2007 I've given up the UK housing market as a lost cause for now. I'll take another look in 5 or 10 years, when the country might have come to its senses. Me too.. Link to comment Share on other sites More sharing options...
Juan Kerr Posted March 18, 2007 Share Posted March 18, 2007 Here's the latest government joke. You have a first time buyers register - so my daughter - 21, steady job, money saved up to pay a deposit - fills in the forms to register. I don't see what the problem is. She's only 21 what the hell does she want to buy a house for? Most people spend an amount of time in a series of rented flats (some grotty some not) before buying their own home. I agree with the government - if your 21 and single why the hell should the taxpayer be helping you buy a house? Link to comment Share on other sites More sharing options...
immortalpuppet Posted March 18, 2007 Share Posted March 18, 2007 Most of my mates that went on the register had to wait between 12-18 months before being allocated a property, most of them fit the profile of single 21-25 steady finance jobs. Thats not too bad in my opinion but some people are not prepared to wait that long and look for other ways to get on the ladder. Link to comment Share on other sites More sharing options...
Roger Smelly Posted March 18, 2007 Share Posted March 18, 2007 Well to be honest with you i would rather see couples get a house before single peope because the couples are looking for a Home to start a family. The trouble these days is most people wanting to get on the ladder see the scheme as the only way to get a house, the government don't have to do this scheme so why moan that you have to wait? Most people i know got a house of there own back by saving like mad and SACRIFICING going out and spending. I personally think the main problem is these developers, what is really needed is a housing cooperative that invests its profit into making more affordable housing for the lower paid. I think the days of a single person who want's to buy are gone. Link to comment Share on other sites More sharing options...
mojomonkey Posted March 18, 2007 Share Posted March 18, 2007 Is it realistic for a 21 year old to be able to expect to buy a house? The price of houses over here is a direct result of living in an affluent society. I'd put more blame on the estate agents, as they're the ones who invent the house prices. Link to comment Share on other sites More sharing options...
Juan Kerr Posted March 18, 2007 Share Posted March 18, 2007 Is it realistic for a 21 year old to be able to expect to buy a house? The price of houses over here is a direct result of living in an affluent society. I'd put more blame on the estate agents, as they're the ones who invent the house prices. Its a good point, I don't think its ever been realistic for a 21 year old to buy a property here or elsewhere and I certainly don't see that the taxpayer should be subsidising it. Even when houses here were cheap very few 21 year olds bought or could afford to buy. Its something you did later on after you'd got up the job chain and had a few quid behind you. Its quite sad that inflated aspirations drive people so young to want to buy. House prices here are ludicrous but I don't think anyone of that age has a "right" to homeownership when we have low income families who really need good affordable housing. Link to comment Share on other sites More sharing options...
Slim Posted March 18, 2007 Share Posted March 18, 2007 I'd put more blame on the estate agents, as they're the ones who invent the house prices. What utter rot! Link to comment Share on other sites More sharing options...
mojomonkey Posted March 18, 2007 Share Posted March 18, 2007 I'd put more blame on the estate agents, as they're the ones who invent the house prices. What utter rot! Who values a house then when it goes on the market? Link to comment Share on other sites More sharing options...
Roger Smelly Posted March 18, 2007 Share Posted March 18, 2007 Well look at what is happening in the US property market at the moment, last year houses were sold within a week now in certain places they are not even selling. The US interest rates have been rising for the past few years and now the market there is finnished for a few years. The same could happen here all it takes is interest rates to rise. If i was 21 now i would be saving a big deposit. Slim could you explain how the prices are valued ? i always thought estate agents did it but i could be wrong. Until the government realise there is going to be a lost generation unable to buy we will have this problem. Instead of giving the developers the land why not sell the plots off to the people who can use LOCAL BUILDERS AND SUPPLIERS to build there own little piece of the island. Link to comment Share on other sites More sharing options...
Slim Posted March 18, 2007 Share Posted March 18, 2007 What utter rot! Who values a house then when it goes on the market? Ah, now you're changing what you said. An estate agent will value a property, yes. The estate agent however does not somehow fix the price at which the property is sold at. The value is the asking price, the purchaser sets the price it's actually sold for. The estate agent can't set that price above what someones prepared to pay. If it sells, that's what it's worth. If it doesn't sell, it's priced too high. Link to comment Share on other sites More sharing options...
mojomonkey Posted March 18, 2007 Share Posted March 18, 2007 What utter rot! Who values a house then when it goes on the market? Ah, now you're changing what you said. An estate agent will value a property, yes. The estate agent however does not somehow fix the price at which the property is sold at. The value is the asking price, the purchaser sets the price it's actually sold for. The estate agent can't set that price above what someones prepared to pay. If it sells, that's what it's worth. If it doesn't sell, it's priced too high. I'm not changing anything I said. Link to comment Share on other sites More sharing options...
Roger Smelly Posted March 18, 2007 Share Posted March 18, 2007 haha then that means the estate agents are fixing stupid prices lol Slim i think you have said enough Link to comment Share on other sites More sharing options...
Slim Posted March 18, 2007 Share Posted March 18, 2007 Who do you think are to blame? Between the developers and the estate agents its all stitched up. There's a bunch of reasons our prices are high. Lack of supply vs ever increasing demand is probably the single biggest reason, and certainly developers have played a part in that. There's a bunch of other factors though; low interest rates, high earnings, low unemployment, more single buyers, more lenient lending, etc. It's pretty simplistic to blame it on estate agents or developers. Link to comment Share on other sites More sharing options...
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