Posted on 08/09/2016 5:37:28 PM PDT by Lorianne
Taxpayers stand to lose hundreds of millions of pounds if house prices fall, thanks to a gamble the government has been making with our cash for the past three years.
Some £3.59billion has been lent to first-time buyers through the Help to Buy loan scheme to help them purchase newly-built properties they may not otherwise have been able to afford, according to the latest government statistics.
The scheme was launched by the former Chancellor George Osborne in 2013, in response to a stagnating housing market.
It effectively lets borrowers with small deposits top them up with a government loan, worth up to 20 per cent of the value of a new build property.
(Excerpt) Read more at thisismoney.co.uk ...
This is a forgone conclusion.
The housing prices will fall.
They will lose either way. If house prices rise, then they’re shelling out more to buy and then they get hit with larger property taxes.
Ah, we, or rather our dim witted liberals tried that.
As we all know, the libs did successfully blame GW for it after their always failing schemes “unexpectedly” failed.
Good luck, UK, on your upcoming train wreck.
Sounds familiar ...
I remember reading several years ago that they had also gambled on green energy with pension money so it is important for them to push the green energy bs.
Oh well, the "homeowners" there can always fly the Union Jack upside down from their flagpoles to signal distress.
Subprime mortgages by any other name...
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