5% deposit for property

[maryp0ppins]

What's everyone think about this new scheme the gvt wants to bring in? ATM it looks like we could never afford a house as would take us ages to save enough for a deposit, haven't read enough about it to make a firm decision if I'm for or against it but I think I'd probably benefit from it. I realise it would cost us more in the end but it would make it a lot easier to purchase the property in the first place.

 

[Leafy]

i havent heard about this will have a look now, but sounds good if its only 5% compared to what it is now xx

 

[cherryglitter]

yeah it does sound good it it's only 5%.

 

[Rhi_Rhi1]

whats the catch ?!

 

[Gretaa]

for me it sounds ridiculous as 5% deposit will only be on the new built houses. And their prices start at £150grant for one bedroom in most big cities...so even this 5% is a lot. I think a big reform should happen in order to put the housing situation into a better place

 

[maryp0ppins]

whats the catch ?!

new build houses only i think

 

[Rhi_Rhi1]

oh thats one hell of a catch! i wouldn't buy a new build, you have to spend twice as much to get half as much space in my exp

 

[ellismum]

Bad decision and flawed in so many ways. It will just keep already over inflated prices high and force people to borrow more than what they can afford. Oh, and I as a tax payer will be helping pay/fund for this and see social housing tenants buy an already cheap home at 50% of it's value, supposedly to pay for these new rabbit hutches that may as well be built of straw. I don't own and would be one of those targeted but I wouldn't go near it with a barge pole.

 

[Lauren25]

We brought a new build house last summer and moved in in January, we only payed a 5% deposit and the housing company matched it which was amazing for us!! I have to say though our mortgage is super high though but saying that we know someone who has brought a 2 bed new build house in a not so nice area and his is £500 a month!!

It was perfect for us though as we had £9000 for a deposit, we would have never been able to afford £18000!!!

I dont know if this is the same thing as i havent heard the news today