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

[blahloney]

I’m actually feeling quite annoyed. I currently work full time, don’t receive benefits but cannot afford to buy a house despite my rent being more than a mortgage. How is this fair?

HA has the right to acquire, capped at £17k discount. Even in the cheapest area you aren't getting a bargain.

Yes that’s exactly what this means.

@JustTheOneSwan

Maybe I've misunderstood but if people claiming housing benefit and the housing element of UC will be able to use that income to pay a mortgage on a new purchase? Sure,y that means they will continue to receive the housing benefit or housing element of UC once they've bought? Seems unfair not to extend that to owners who lose their job after having owned for several years.

Martin Lewis thinks it's a crazy idea and I value his expertise above Boris Johnson and co.
DM and guardian comments online also agree too ; very rare occurrence!

This is just to grab headlines.

Was just hearing two women on the radio one from a think tank and another a mortgage advisor. Both pointed out that if you are on housing benefit then you are a lower earner.

The mortgage advisor also pointed out that when it is explained to people that they will be responsible for housing repairs both internal e.g. boiler and external e.g. roof that most people would prefer to continue to rent from a Housing Association.

Also if the Housing Association is a terrible landlord they aren't going to be better as your freeholder whether it's for the entire property or just the grounds.

Harsh.
So because you got fucked over you want others to?

Well I live in such an area and have a perfectly decent job thanks 😁I don't want to move, even if I could afford it.

Well you can only have £6000 before it starts affecting your benefits .

If you are entitled to hb you either earn very little or are on full benefits. I doubt very much a bank would want to lend me the money even if I did have 16,000 deposit

Is it to do with rtb

The stars must be aligned 🤣

Apparently they’re going to get round the deposit issue by using the discount as the deposit. So 40% discount, the mortgage would be 60% LTV.

It's not what the PM said though. It is for people on benefits. Won't work of course.

You haven't misunderstood.
Boris is talking crap.
It's an old Dave Cameron policy that didn't work then.
it won't happen.

It makes sense to me that people who own their own home on a mortgage are able to get housing benefit if they need it. Mortgage payments are often cheaper than rents for similar properties and the purpose of the benefit system isn't to punish people by making them lose their home.

Elderly having to sell their house to pay for care homes is irrelevant. They can't live in 2 places at the same time, it's not like they are being made homeless!

What expertise does Boris have except wasting money saying he will do things that are purely headline grabbing and then the ideas never coming to fruition?

I'm in London so I'm thinking of the water cannon he purchased which were illegal to use and the garden bridge as a start.

He needs to get better advisors and cabinet ministers.

The government have relied on bank forbearance and in a time of increasing house prices, that has made commercial sense to lenders. Ie mortgage holidays etc.

I didn’t “get fucked over”

I used my assets to fund myself before resorting to taxpayer benefits which is what we all should do as responsible citizens.

Why is it “being fucked over” to have to reduce your circumstances to the same level as every other benefits recipient before taking handout?

I’m not “better” than people on benefits who never had the opportunity to save a deposit and own a home in the first place. I don’t deserve to have my assets protected because they’re in bricks and mortar while their assets are all in cash. I’m not special.

It will help those who currently have a mortgage but lose their job/ become unable to work.
Some people won't choose to take up the offer- if you own you have to pay for repairs/upkeep if you rent your landlord pays that.

So the government is going to underwrite the other 60% for when the owners default on their mortgage due to excessive repair bills? Refusing to pay the bill for up keep of the communal grounds?

Anytime you are forced to move from your home is being made homeless. The fact you find a place to go to, doesn’t negate that fact.

The proposed idea is absolutely bonkers and will never happen. I also wonder why the PM thinks it will be a vote winner among Conservative supporters?

But it's given everyone something to talk about again

it shows how out of step Doris is with people on benefits.

whilst many are working, their ability to save enough for a deposit on a house is going to take a considerably longer time

then which lenders would actually agree to a mortgage for those living on benefits or topping up working low salary with benefits? None have stepped forward

often many on benefits have had troubles with money, it’s just the way things are, so without a decent credit score, if they can find a lender into this scheme the likelihood of passing a credit check maybe low

where in the country can you find a house cheap enough to be purchased on working benefits - which top out for a single parent with childcare at approximately £40ish grand - but affordability reduced due to nursery

its all shambolic to try to get those on benefits to vote for him

People on low incomes but working who don't qualify for benefits are totally screwed in this country.

That's because old people's home is now the care home. They don't actually live in their previous home anymore.

Its completely uncomparable.

I grew up in an area of social deprivation in the 80's. It was rough but definitely became nicer through the 90s as people took advantage of right to buy. With home ownership they were better off working in many cases including my Mum's. There are benefits to these schemes.