Jump to content

Unfair First Time Buyer Scheme


UnbelievableTekkers
 Share

Recommended Posts

 

 

Lost in their own greed, Piss Off ! ! !

 

Your not getting it, any of you, it's not about the feckin 30%, I think you will find that they are all very grateful getting on the property ladder but it doesn't mean you should have to stay on the first rung because of the Govt cock-up, it's about the fact they want it to go on for 21years, why 21years?? when all the other FTB have clauses that end after 10years MAX.

 

And the fact the Govt want money for the extensions too that the house owners have used their own money to expand on, that money invested should not be included in any argument.

 

Understood you think you know it all -- FxxK ALL more like!!!

Link to comment
Share on other sites

They just want to fire comments of sheight; not look or listen to facts

 

Has this been taken up with your MHK? (the contract issue not the sheight!)

 

ETA: Also, did any of the FTB take independent legal advice or were they 'forced' to use the appointed advocate for the scheme?

Edited by Andy Onchan
  • Like 1
Link to comment
Share on other sites

They just want to fire comments of sheight; not look or listen to facts

You just repeat post the same argument but it is just moaning. People get it all right. I think they understand the scheme you signed up to more than you do. The clue is in "shared equity". The government has an equity share in your house. When you sell it they get part of the equity released. You agreed to that. If you want to improve your house you do so in the knowledge that you are also improving the equity value that government has a share in. It's not unfair. You got free money to buy a house FFS. Stop fucking moaning. It's always someone else's fault isn't it - wah, wah, I thought I'd signed up to a scheme that gave me free money to buy a house but I have to pay it back with interest/capital appreciation.

Edited by thesultanofsheight
  • Like 4
Link to comment
Share on other sites

But then it wouldn't be "free money" would it?

But to follow the moronic argument above it would be. The government took an equity stake in someone's house and you have to assume they didn't do it for nothing. So if they gave someone 30% of the purchase price they must surely expect that government would want to get that back plus at least the cost of the working capital they have tied up making the advance? What these people seem to be saying above is - I'm happy for them to get their 30% back but not anymore than that even if the house is trebled in value. So they were clearly expecting to be given free money. Dear Eddie Teare - give me £30,000 and I'll give you back £30,000 in 10 years time when I sell and not a penny more. Well life doesn't work like that. Treasury wants a slice of the capital growth back because it's tied up money in someone else's house for years and it wasn't making a gift. That is the commercial reality. Those who improved these houses with extensions etc were doing it to improve THEIR comfort not to increase their investment as government had made it clear that it had a stake in the EQUITY of that house.

Edited by thesultanofsheight
  • Like 3
Link to comment
Share on other sites

Lost in their own greed, Piss Off ! ! !

 

Your not getting it, any of you, it's not about the feckin 30%, I think you will find that they are all very grateful getting on the property ladder but it doesn't mean you should have to stay on the first rung because of the Govt cock-up, it's about the fact they want it to go on for 21years, why 21years?? when all the other FTB have clauses that end after 10years MAX.

 

And the fact the Govt want money for the extensions too that the house owners have used their own money to expand on, that money invested should not be included in any argument.

 

Understood you think you know it all -- FxxK ALL more like!!!

ffs go to sleep in you 70% owned house.

Link to comment
Share on other sites

Lost in their own greed, Piss off ! ! !

 

Your not getting it, any of you, it's not about the feckin 30%, I think you will find that they are all very grateful getting on the property ladder but it doesn't mean you should have to stay on the first rung because of the Govt cock-up, it's about the fact they want it to go on for 21years, why 21years?? when all the other FTB have clauses that end after 10years MAX.

 

And the fact the Govt want money for the extensions too that the house owners have used their own money to expand on, that money invested should not be included in any argument.

 

Understood you think you know it all -- FxxK ALL more like!!!

 

I think if you can provide the answer to this : http://www.manxforums.com/forums/index.php?/topic/46364-unfair-first-time-buyer-scheme/page-11#entry1037045

 

then it might help some of us put things into perspective.

Link to comment
Share on other sites

Lost in their own greed, Piss off ! ! !

 

Your not getting it, any of you, it's not about the feckin 30%, I think you will find that they are all very grateful getting on the property ladder but it doesn't mean you should have to stay on the first rung because of the Govt cock-up, it's about the fact they want it to go on for 21years, why 21years?? when all the other FTB have clauses that end after 10years MAX.

 

And the fact the Govt want money for the extensions too that the house owners have used their own money to expand on, that money invested should not be included in any argument.

 

Understood you think you know it all -- FxxK ALL more like!!!

Go on then, I'll humour you.

Can you explain to me how the Govt have "cocked up"?

Link to comment
Share on other sites

http://www.manxradio.com/news/isle-of-man-news/harcroft-scheme-under-scrutiny/

 

Residents were 'advised to use same advocate' at the time, because they were a lot cheaper.

 

As stated Previous, not even the advocates knew of the 21year pre emption right, it's not in the deeds.

 

Go on have another dig hillshepperd and thesultanofsheight...

Link to comment
Share on other sites

http://www.manxradio.com/news/isle-of-man-news/harcroft-scheme-under-scrutiny/

 

Residents were 'advised to use same advocate' at the time, because they were a lot cheaper.

 

As stated Previous, not even the advocates knew of the 21year pre emption right, it's not in the deeds.

 

Go on have another dig hillshepperd and thesultanofsheight...

It seems fairly clear to me.

This isn't a Deeds issue. It's a contractual arrangement issue that a FTB completes and signs before it goes to a lawyer. The lawyer is conveying a Freehold Title and the 21 year pre emption right wouldn't be in there. So it isn't a surprise that the advocate knows nothing about it. Their job is do the conveyancing and report on title etc.

Basically, the government have a legal charge on the property. This is covered in the paperwork the FTB signs up to at the point they apply to be FTB's on that scheme. At that point the 21 year pre emption right will be in THAT paperwork.

It's pretty simple really. Either it is there or it isn't. If it isn't, the government don't have a leg to stand on. If it is, the FTB doesn't have a leg to stand on.

 

That manx radio link doesn't mention anything about a 21 year pre emption right.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...