Social housing can it be fixed?

[lesleyann]

That is the one thing we have been looking into when looking at morgages is the payment protection or what ever its called so if Oh does lose his job our house would be safe/paid for, for a year after he first loses his job. It is unfair though that just because you own your home that you get no help if you really need it as at the end of the day one would guess if they only say paid the intrest off so just enough to keep the house you would be one of those claiming benefits for less time due to wanting to still buy your home.

look into it really well, i may be completly wrong but the way i understood it was of you lost your job under x,y and z circumstances they would cover 60% of it or something like that. seems weird to me, i mean if my OH lost his job then it would need to be comepletly covered, not just part of it, as i say i may be wrong though so look into it.

We have had Oh's dad looking it to it, he had one for his house paid into it for 20+ years got made redundant and only had 4months worth of payments left but his cover was for the full amount. But will make sure all the T's and C's are well read and looked at

 

[tallybee]

mortgage rates are ridiculous anyway, well house prices are anyway.

Aye, it's not mortgage rates that're the problem atm... interest's at rock bottom! It's the other things, like ludicrous house prices and stupidly high deposit requirements, that are obstructive...

xx

 

[Laura2919]

You have to have a whopping great big deposit and nobody has that kind of cash these days.

 

[Rhi_Rhi1]

... there are alot of good deals out there if you look about ... but only works if you want a new build, for example only needing 5% deposits, or paid equity, or deposit match that sort of thing x

 

[lesleyann]

Well acording to the news in the next 12-18months some banks will be bringing back 100% moragages for low income family who otherwise would be forever stuck renting

 

[tallybee]

Well acording to the news in the next 12-18months some banks will be bringing back 100% moragages for low income family who otherwise would be forever stuck renting

Well that's something positive, but its no use if those on incomes low enough to be classed as 'low income families', aren't able to afford actual property prices in the area... It was all screwed by the by-to-let boom of recent years.

I donno what the answer is really

xx

 

[LoraLoo]

That is the one thing we have been looking into when looking at morgages is the payment protection or what ever its called so if Oh does lose his job our house would be safe/paid for, for a year after he first loses his job. It is unfair though that just because you own your home that you get no help if you really need it as at the end of the day one would guess if they only say paid the intrest off so just enough to keep the house you would be one of those claiming benefits for less time due to wanting to still buy your home.

You have to be careful with Payment protection too- one that we went with wouldnt pay out for the first 3 months either xx

 

[Eternal]

even with big deposits its hard to get a mortgage, it took us months to buy the house we are currently in, it was crazy!

Its a difficult one, i do think home owners should be able to get short term help if needed, it would in the long term save a huge amount of money from people having to declare bankrutpsy (sp) and mean that people can remain in their homes if they are able to find alternative employment.

However it being a long term thing wouldnt work, as then those in that circumstance would be meg benefitting because unlike renting homeowners own their homes or at least some of it, so it wouldnt be fair to get long term housing benefits when basically yoru mortgage is being supplimented.

It would be good if there was something just to tie people over for a few months, but not something that ended up paying mortgages for years. JMO.

 

[Rhi_Rhi1]

personally i think the right to buy caused more hassle then it was worth ... x

 

[summer rain]

personally i think the right to buy caused more hassle then it was worth ... x

yes it did, our old house had no RTB (pretty much nothing built after the early to mid-90s in London does) but some of the residents in that estate SUED the housing association to give them a RTB! Even though they knew full well there wasn't one when they moved in.

 

[Rhi_Rhi1]

it really gripes me.. because as far as i'm concerned mortgages were easier to get and yet everyone snatched up the cheap council houses.. now we all have to find 35K deposits to live in new builds with gardens the size of my shed.... okay i know its not that black and white .. but you get my drift x