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big ben
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10-12-2019, 02:54 PM
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Affordable homes

The government say they have built 42,000 affordable homes in the last few years. Affordable to who?
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10-12-2019, 02:58 PM
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Re: Affordable homes

I've always wondered what exactly they mean by ' affordable' Ben?

Affordable to who?
The homeless? Those with no money to even buy a sandwich?

What do the wealthy members of parliament with several properties each, call 'affordable?'
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10-12-2019, 03:11 PM
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Re: Affordable homes

It's another name for Part Ownership.

Affordable to people who can only afford half a home.

One foot on the property ladder.
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10-12-2019, 03:17 PM
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Re: Affordable homes

It’s nonsense .
They are not affordable at all.
It another word for small expensive boxes.
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10-12-2019, 03:36 PM
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Re: Affordable homes

Originally Posted by d00d ->
It's another name for Part Ownership.

Affordable to people who can only afford half a home.

One foot on the property ladder.

If they only own part of their house, Dood, what happens if they want to move out later on?
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10-12-2019, 03:36 PM
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Re: Affordable homes

Here in Dorset we have a lot of small developments. The price of the new houses are shocking . Unavailable and unaffordable to local working people . I know 25% of new homes must be available to the housing associations to let , these are usually 2 bed mid terraced . The wages are low here unless you work in the public sector , mostly minimum wage of around £8 .10 p per hour . Some of the houses are 4 beds and selling for £500 thousand upwards
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10-12-2019, 03:44 PM
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Re: Affordable homes

Originally Posted by Mups ->
If they only own part of their house, Dood, what happens if they want to move out later on?
There are different deals but basically ... you sell your share back to the freeholder, this may be a housing association or some entity set up by the local authority. They have a waiting list of eligible people to offer it to.
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10-12-2019, 04:19 PM
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Re: Affordable homes

Originally Posted by d00d ->
There are different deals but basically ... you sell your share back to the freeholder, this may be a housing association or some entity set up by the local authority. They have a waiting list of eligible people to offer it to.


Oh I see, I didn't know that.
Thank you dOOd.
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10-12-2019, 04:21 PM
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Re: Affordable homes

So many questions. One I would like an answer to is, Where is the deposit coming from? There are thousands who long for their own homes but cannot find enough for a deposit. There are so many paying extortionate rents to unscrupulous landlords because they cannot find the deposit for a home of their own. How can the powers that be help these people?
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10-12-2019, 04:29 PM
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Re: Affordable homes

Originally Posted by Mups ->
If they only own part of their house, Dood, what happens if they want to move out later on?
Another way it can work is, lets say you have a 50/50 share of the new price with the lender, and for arguments sake the property was £200k, you technically own half £100k, usually written in the deal is that any market value increase in the property, when resold is not shared 50/50, could be 80/20 in the lenders favour, so if the house increases by £20k, you don't get £10k each, you get £4k, they get £16k.
..
 
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