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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To think "the government giving £3'000 to peoples first home" isn't s good use of public money

82 replies

DyslexicScientist · 15/12/2015 16:21

With so many essential services cut, doesn't seem right to me to give people money to buy a first house.

Apart from anything the average house price in england has just hit 300k and this is about 12 times the average wage, so prices are in a bubble and unsustainable. This just seems to be adding fuel onto the fire, help to buy as seemed to have the affect of also stoking house prices, making people worse off as they have a loan to repay in 5 years.

OP posts:

Samcro · 15/12/2015 16:24

yanbu seeing as there is a terrible situation with adult social care, it is beyond daft(unless its a loan)

SunsetBeetch · 15/12/2015 17:23

YANBU and I totally agree with your analysis of the situation. I wish the government would stop interfering with the housing market.

BlueJug · 15/12/2015 17:30

YANBU - agree with you.

I also think it will be used by youngsters whose parents are astute enough to set their kids up to take advantage of this.

Genuinely poor people are excluded from this. However it was a people pleasing idea and designed to be a sweetener to all those complaining about the housing market.

It is a small sum though and probably doesn't cost much. It will be recovered in stamp duty.

citybushisland · 15/12/2015 17:32

£3k is sod all in relation to a deposit on a first property, but it's a lot out of the public purse. If the government has all this spare cash I'd rather it went into building social housing/social care/NHS/education/general welfare budget any or all of them in no particular order as they are all priorities way above helping people to buy property.

CrotchetQuaverMinim · 15/12/2015 17:36

It also isn't much help to those of us who live in areas with massive house prices, because even the smallest flat is over the maximum price that you can use the deposit money for (max is £250,000 I think). You need a massive deposit for that kind of thing anyway, not sure how anyone does it without a partner and probably help from parents or something too.

GhoulWithADragonTattoo · 15/12/2015 18:39

YANBU - it's a stupid idea.

We3KingyOfOblomovAre · 15/12/2015 18:51

I too think this is a silly idea.

jellyfrizz · 15/12/2015 18:52

YANBU - so many areas where this money could be better used.

ThreeRuddyTubs · 15/12/2015 18:56

You have to save for 4 years to get the full whack as well

Owllady · 15/12/2015 18:56

I agree with you too:o

Osolea · 15/12/2015 19:06

While I agree that there are many places where this money could be better used, I don't think it's a bad scheme. It's better to help people set up home on their own, where they will pay their mortage themselves, where they will be responsible for all the costs of maintaining the home themselves, than it is to give them housing benefit for years years.

TheXxed · 15/12/2015 19:11

YANBU, this govt is desperately trying to keep the price bubble from popping ; expanding right to buy, pension unlocking, help to buy etc it's so fucking transparent.

citybushisland · 15/12/2015 19:15

Osolea - people on HB aren't generally in a position to save enough of a deposit to qualify for this scheme. The top whack of a qualifying property is £250k, 10% deposit £25k, so they'd have to save £22k over 4 years to qualify anyway - not likely if you don't make enough to pay rent anyway...

BlueJug · 15/12/2015 19:23

Osolea - agree in theory - but the HB people are unlikely to be the beneficiaries of this scheme.

knobblyknee · 15/12/2015 19:58

YANBU. I need a carer for 13 hours a week and dont get any DLA/PIP. I dont qualify.

Tamponlady · 15/12/2015 20:05

Would you they get council housing

Perversely when we lived in London we had a council home couldn't afford to rent but would of been able to afford a mortgage as the monthly payments were lower than private rent

We are now in our own home thanks to help to buy we have freed up a council home that would have been lived in then passed down to my children never coming back into use.

Our council rent was 500
Our mortgage is 700

Our private rent would have been 1565

Anything thang can be done for people to own there own homes is a good thing usually it's people who don't rent haven't suffer the insibilty and haven't had the stigma or humiliation of living in a council home say renting is fab

Tamponlady · 15/12/2015 20:08

It's a a madness we lived in a street we're professionals firemen were living in council homes my oh is a nurse and years ago a professional would of been able to comftabley afford there own home

We have had to leave all our support network eveyone we no and love because we can't afford to live in the place of my birth

citybushisland · 15/12/2015 20:32

Would you they get council housing
I would much rather there was more council housing, I would also prefer that rental controls were brought in to dictate how much landlords could charge for properties in the private rental market and to give private tenants security. Yes, the ideal is that everyone owns their own affordable property, sadly we don't live in an ideal world.

As an aside, I don't understand how we all pay more and more council tax and yet services and housing are being cut, well down south anyway - we lived in the south until earlier this year, libraries closing plus much more and yet up here in the north I have easy access (on frequent bus routes) to 15 or more well stocked libraries, yet most northerners go on about how the south has so much more blah blah blah but that's a whole other thread

redstrawberry10 · 15/12/2015 20:33

I think the government policy is to do anything but helping to solve the problem. we need more homes.

Tamponlady · 15/12/2015 20:42

City

I don't living in a council home was fucking grim

Are house was all but falling down the council wouldn't do anything about yet we weren't allowed to make basic improvements our selfs

It was freezing and mouldy and when they did finally get the money together to do repairs we couldn't get a contractor because the council take so long to make payments

If the house burned down God forbid that would of been us in temporary accomdation

I love having my own home i feel so proud and my husband walks a little taller tbh our home is decorated how we like I can have a nice kitchen not a shitty council one may not mean much to yu but for 200 more a month we own this house own it

redstrawberry10 · 15/12/2015 20:47

the problem is prices are too high because demand is too high. that just makes that problem worse. it doesn't solve the shortage problem.

Higge · 15/12/2015 20:50

Give all first time buyers £3k and you just increase the price of the first rung on the property ladder by £3k - Australia did this 14 years ago, and it was a joke policy, that did not help first time buyers back then too - the money will help those exiting the market though.
We need more housing stock. It's the lack of housing that is pushing the prices up.

SchnooSchnoo · 15/12/2015 20:53

It sounds pointless. If you can save up tens of thousands for a deposit, then three grand's not going to makeup have difference. And if you can't, then ditto. Will probably increase house prices too. Waste of money.

Tamponlady · 15/12/2015 20:57

If yu so low demand only thing will happen demand for council housing will increase the Troy's and LABOUR failed on building more homes

ProvisionallyAnxious · 15/12/2015 21:00

If you can save up tens of thousands for a deposit, then three grand's not going to makeup have difference. And if you can't, then ditto.

I don't know - if you're, what, looking for a 10% deposit on a £150,000 house, £3,000 is a pretty big chunk of the deposit - if someone was saving £3,000 a year then the government scheme would get them there a year early.

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