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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

so the people with low rent that is subed, will now be able to buy with a sub total madness

238 replies

medona · 14/04/2015 08:15

The people in the country with rent that us subbed will be promised a discount of up to 100000 to buy this property. It's madness all over again.

This scheme is estimated by some to cost 29 billion.

There really is no point working in this country, the middle just get squeezed more by the day. Best off either never working or being rich.

OP posts:
LargeGlassofWhite · 14/04/2015 16:16

singinghinnies that is cheap compared to most of the country.
I think it's hard to say what a 'fair' rent is and everybody always blames the landlords but they're not always at fault and they're not all bad.
I'm both a landlord and a tenant and we don't really make any profit on the house we rent out, the small amount of 'profit' we get from it stays in a separate account to pay for repairs and any future estate agent fees.
The only thing we're benefitting from keeping that house is that hopefully it'll regain some value in the future so we can sell it without making a loss.

We're also really lucky that our landlord is lovely and really looks after the house we live in. The rent we're paying is probably about the same as what we'd pay on an interest only mortgage if we owned it.

The landlords are given a bad name but actually it's the estate agents and also the tennants who determine the rental income.

Mintyy · 14/04/2015 16:25

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

SingingHinnies · 14/04/2015 16:28

You can buy a 3 story 3 bed council house with a garage on my estate atm for between 80-90k, one like mine, 3 bed without garage is going for between 70-80 depending on what been done with them. Its a very sought after estate as some are better than others, mine is made up of blocks of 4 terraced houses making cul de sacs. Out of my block and the next 4 so 5 blocks of 4 = 20 houses there are 4 council houses, the rest are bought, out the 16 bought ones about 9 are owned by BTL landlords or rented out, the rest have the original tenants in who are probably mortgage free, one was bought for 14K and one for 7K when bought in the 90s under RTB

SingingHinnies · 14/04/2015 16:33

obiously the LLs didnt buy them for what the tenants did, it was my DM bought hers for 14K kept it for the 3 years she had to then it was valued at if i remember correctly somewhere about 125K in the bomb so she sold. It was then reppoed and sold at autction to the current BTL LL who paid 73K, he rents it out to a friend for £650 pcm, my rent on the same house with the council is £320pcm.

RTB was good for those who stayed in their home and are mortgage free but it has now had a massive effect on people who need and would normally have got social housing. When my DM had me in the 70s she said you could more or less get a house wherever you wanted one or have a very short wait, there were not many families of 4 in 2 bed flats

SingingHinnies · 14/04/2015 16:34

appauling typing in the bomb? = boom obviously

SingingHinnies · 14/04/2015 16:35

gives up Blush

Mintyy · 14/04/2015 16:54

You've explained it all perfectly Hinnies.

And the Tories want to enable more of the same. I despair.

Mintyy · 14/04/2015 16:55

Why do HA tenants need this? They already have the security of tenure that no private renters in this country enjoy!

Arsenic · 14/04/2015 16:59

Don't you be an arse Mintyy. Why would you choose to sympathise with the LL when a family is homeless FFS?

And come to think of it, aren't you one of the posters who posts about the decor/property dilemmas of their £800k - £1m houses? Isn't it in slightly poor taste to be throwing your hands up in horror because some tenants might clamber on to the bottom rung?

Mintyy · 14/04/2015 17:04

I don't believe you are THICK Arsenic, so I won't even bother to explain again.

Just in a mood for a pointless little fight this afternoon are we? How pathetic.

Mintyy · 14/04/2015 17:05

"And come to think of it, aren't you one of the posters who posts about the decor/property dilemmas of their £800k - £1m houses?"

No.

Arsenic · 14/04/2015 17:05

You can't see a poor taste issue then?

Mintyy · 14/04/2015 17:06

No.

ilovesooty · 14/04/2015 17:09

I think SingingHinnies has explained exactly why this is such an appalling policy.

BarefootShirl · 14/04/2015 17:11

Regardless of whether the policy is good or bad (and I happen to disagree with it), it amazes me that each party comes out with all of these "new" proposals just for the election - why the f* didn't they do these things during their 5 years in government if they really believe in it??? Do they really think we are so stupid that we don't realise they just want to get elected and then the promises will all get abandoned or watered down as usual?

Arsenic · 14/04/2015 17:11

I apologise Mintyy. It was £625k plus renovation budget

www.mumsnet.com/Talk/property/a2198131-How-much-to-renovate-and-modernise-this-house

As I said, poor taste.

Original poster
medona · 14/04/2015 17:11

So let the message ring out from this generation of Conservatives: you’ve worked hard, you’ve saved, the home you live in, it’s yours to buy, yours to own…

What fucking planet is he on? Have social tenenats worked harder than private? Have they saved more?

I seriously hope this blow up in their faces. It really should.

OP posts:
Baddz · 14/04/2015 17:12

My mums council rent was nearly £400 pm for a 3 bed terrace!
Where do some of you guys live!?
HA are more....
My late aunt was paying nearly £500 for a tiny 2 bed.

Baddz · 14/04/2015 17:19

Tbh I dont see how the council tenants who live near my mum could ever buy.
The vast majority of her neighbours are on HB.
It just wasn't like that years ago (30) when I was young.
Back then everyone worked (the so called working poor) sometimes there were 4/5 wages coming in once children had left school and gone to work, but being the 80s people still struggled financially.
My mum was paid £2.50 an hour at a nursing home as a housekeeper and my late father about £180 a week as an engineer. And he was a time served skilled man!
THis was normal back then.
I think the huge majority of council tenants now are either on HB or in the "working poor" bracket.
I do know my cousin bought Her council house last year for £38k. A huge 3 bed on a corner plot.
(Btw...you cannot sell for 5 years after buying under RTB - or if you do you have to pay he council a % of the price back)

Mintyy · 14/04/2015 17:26

I don't see a "poor taste" issue at all Arsenic.

We have a property section - people link and discuss properties all the time. Unfortunately for me and all the other people who live in London (and other property hot spots) houses cost an absurd amount to buy. Should I not be allowed to discuss property because of the on-paper value of my extremely ordinary house?

If you put your considerable advanced searching skills to work and search the words "tenant" "rent" "council" etc under my name, you will see I have a consistent history of moaning about the appalling state of private renting in this country, siding most definitely with the tenants. And offering advice/experience where I can.

Arsenic · 14/04/2015 17:33

The reason I remember your posts Mintyy (about schools etc as well as houses) is that we're near-neighbours.

I'd feel really uncomfortablegetting too pearl-clutchy about any home ownership schemes, myself, knowing how hard it can be for those of us under 40 to get a toe hold, and appreciating that I'm luckier than many. That's all.

SwanneeKazoo · 14/04/2015 17:36

It will never happen. They will not be able to force HAs - which are private companies - to sell their assets at below market value. It's just pie in the sky typical Tory bollocks, but sadly it seems that some people are taken in by it.
And incidentally, to Peanutstash and one other poster, a 50% tax rate does NOT mean that half your income is taken in tax.

Mintyy · 14/04/2015 17:50

Oh really, near neighbours? I expect your house is worth a couple of bob too.

I don't give a shit about any of that.

I said "We have people on Mumsnet who have had to make themselves homeless in order to go on a council waiting list. Meaning they put their private landlord through a whole lot of stress and bother, but there is just no other way to be eligible for local authority or housing association houses!"

Which was a general comment about what a disgraceful state of affairs the private rental sector is in this country, and you chose to interpret that as me siding with the landlord!

The last thing we need is more people having to pay higher rents and this is exactly what this policy will cause. See SingingHinnies excellent post.

A simple apology for picking my post apart would have sufficed.

SirChenjin · 14/04/2015 17:57

YANBU OP

The idea that people on non-means tested, protected tenancies on low rent will be able to buy at a discount is utter madness imo. It will leave a decimated housing stock, with some properties being sold on a massive profit like my ex colleague plans to do. The whole rental market is madness - social housing should be means tested, you should not be able to get housing of this type if you already own a property, and housing stock should not be sold off. Ever. IMO opinion, obviously.

Arsenic · 14/04/2015 17:58

But the capital receipts of RTB have been earmarked for reinvestment for about four years now. The proceeds will be used to build. So where's the big economic disaster coming from?

Yes, it's cynical electioneering. True, it doesn't help private tenants. But who can blame eligible tenants for saying 'yes please'?