To think being able to use housing benefits as a mortgage is unfair?

Read the news.

Housing benefit can't be used to pay for a mortgage what you on about.

I'll just find a low paid job and work the minimum amount of hours to quality for UC and not be hassled. Loads around here.

I know and it's appalling.

I thought that buy to let owners did pay a lot of tax? I remember a similar thread once a while back and a btl landlord / woman on here was listing his tax affairs etc. it wasn't all wonderful and seemed genuine. They are not all land owning tories ( although many are ) and they have to pay all the maintenance too. That's a shock as a 'home owner ' paying for that yourself and not cheap!
Anyways, maybe the banks won't play ball here and the stress testing will throw up too many problems even with a big discount towards the mortgage etc. interest rates will go up too :(
It is very fragile for many.

It doesn't mean this though. Lenders have extended a high amount of forbearance to mortgage holders. This forbearance has made commercial sense to lenders due to increasing house prices ie the mortgage holder may have been on a payment holiday but the property was increasing by x amount a year. The question is, if house prices start to drop, are lenders going to extend the same level of forbearance to those who are in negative equity? I know my old Nationwide mortgage terms said that they couldn't start repossession proceedings until I had less than 10% equity in the property. This isn't an issue in an era of rising house prices because mortgage holders start to gain more equity as soon as they move in. It's a completely different story if house prices start to drop.

Yes (as a mortgage payer who has never received HB) I agree with this.

I did a quote the other day out of interest to see how my claim would change if I changed jobs. Two people working full time (around 40k per year joint), paying childcare and renting are eligible for UC (and a fairly decent amount too). But hey all claimants are dirty scroungers according to some posters aren't they?! I think a lot of people are unaware of how many people are actually eligible.

Not sure if it's already been said but housing benefit is paying the mortgage of thousands of private landlords already, why are people suddenly up in arms about this?..

No they won't. Who'd give up the security of work and throw themselves at the mercy of the Tory party during a cost of living crisis when they are being jettisoned from pillar to post like the political football they have become in the hope you might be able to use an undefined amount of housing benefit towards a mortgage the bank won't give you anyway. Meanwhile you can endure your new position in life as a social punchbag for any fucker with a chip on their shoulder.

I'll stick with my job thanks.

I agree, it’s a typical Boris sound bite for headlines. It’s like the Rwanda hotels for deported asylum seekers, never going to happen, but it shuts up the back benchers and the ranters for a couple of weeks while he thinks up another boys own ripping wheeze.

I haven't heard anything to the effect that it's going to help existing homeowners who subsequently end up on benefits. I'd very much appreciate a link to wherever it says that's proposed. (I work in welfare rights and have already had a client ask me about this.)

At the moment, mortgage payers on means-tested benefits can get an element called "support for mortgage interest" added to their UC/ESA/PIP if they wish. But it's only a loan, and the debt to the govt is secured by a charge against the property. It's almost like a mortgage in reverse.

And iirc, the interest on the debt to is around 3.6%, which may be more than people currently pay on their mortgage.

This.
All. Day. Long. This.

I admit I haven't read the full details but I assumed this was almost for the opposite, so if someone owns a house and loses their job, they currently can't claim housing benefit which means people lose their homes and then end up on housing benefit in rented which is more expensive than the mortgage they lost.

I would rather HB went towards paying a mortgage for the claimant, giving someone on a low income the opportunity to acquire an asset, rather than pay the mortgage of a buy to let landlord.

Do you think they’re gonna let you just give up your job and jump onto benefits 🤣
you will be sanctioned at every move if you are signing on as bodied person who hasn’t got a job, you will be required to spend 40 hours a week producing a diary documenting what you have done to find a job. So nobody will be throwing in the towel and going to live the viva Loca on benefits

FreeHouse! 🤑

Bingo.* *

Maybe, not the least fair policy they’ve had though is it? A few people not losing their houses when they become unemployed I’d suggest is one of the least worst outcomes they’d be responsible for. I’m sure they’ll manage to mess it up though somehow so I wouldn’t worry too much. They are not a good government by almost any measure

I agree to a certain extent in that I don't think benefits should be used to fund the purchase of council and ha houses. Main reason being, these properties shouldn't be taken out of circulation for those that will need them in the future. They should be seen as a public asset.

YANBU. I think lots of people will just give up work and go on benefits. I know I will if it is really the case that I can get a free house paid for by housing benefit! Also ridiculous that those on benefits won't be subject to the £16k savings limits while those that aren't on benefits will. What's the point in working harder if you are basically going to be told you need to pay more tax so that someone else, working less or not all all, can be better off than you!

I know. I was just stating it's not a new concept that a deposit isn't always required for a RTB mortgage

That's always been possible. I know quite a few people who bought their council houses this way.

Housing benefit is going to be paying somebody’s mortgage either the benefit recipient at which point there is an end date the end of the mortgage or the landlords at which point you will finish paying his their mortgage after 20 years and then you will continue to just give them pure profit as tax payers which would you prefer ?

Ridiculous - I totally disagree that benefit that are funded by the taxpayer should be used to allow this benefits are there to allow a basic standard of living not to allow the purchase of an asset that will rise in value. In effect I am working and paying nearly £30k a year in tax and NI to purchase someone else a home.

The Labour party should have built more affordable houses in the 90s / 00s.
Even Andy Burnham admits this.
It's only after 12 years that this govt have come up with this recycled idea. I heard today that the Labour Party said it was trialed and failed a while ago , but I don't remember anything about that. A lady on lbc was also pouring cold water over it and she seemed in the know from a financial point of view.