(because people are confusing HtB1 - the equity loan scheme -

with HtB2, which is a mortgage guarantee scheme.

Suspect you were asking about the latter - under which there's no fee, or amount to be repaid to the government, or anything like that. All that happens is the government guarantees the bank that they'll repay them if you default on the mortgage. Has no implications for you, other than you get a mortgage with a very low deposit. (But the interest rate on the mortgage probably won't be as cheap as if you had a bigger deposit.)

Posted By: Tricky Hawes on October 8th 2013 at 17:10:34

Message Thread

this new help to buy scheme (General Chat) - SCC 28, Oct 8, 15:53:01
- ... (General Chat) - CB41, Oct 8, 17:52:12
- thanks all will hold fire then (n/m) (General Chat) - SCC 28, Oct 8, 16:42:08
  - should warn you - quite a few of the answers below aren't right (n/m) (General Chat) - Tricky Hawes, Oct 8, 17:05:38
    - (because people are confusing HtB1 - the equity loan scheme - (General Chat) - Tricky Hawes, Oct 8, 17:10:34
      - yes that's it (General Chat) - SCC 28, Oct 8, 17:12:41
        
        tho there is a fee (General Chat) - SCC 28, Oct 8, 17:13:35
        
        I don't think so. Where have you seen that? (General Chat) - Tricky Hawes, Oct 8, 17:30:36
        
        near the bottom (General Chat) - SCC 28, Oct 8, 17:32:09
        
        oh i see that's the equity one (General Chat) - SCC 28, Oct 8, 17:33:37
        
        depends on the interest rates on the two different types of mortgages (General Chat) - Tricky Hawes, Oct 8, 17:37:02
        
        ok thanks (General Chat) - SCC 28, Oct 8, 17:38:43
        
        Yup, pretty sure you're also confusing the equity loan scheme (General Chat) - Tricky Hawes, Oct 8, 17:31:48
- after 5 years the govt whack 1% a year on top of base rate (n/m) (General Chat) - MIKEWALKER, Oct 8, 16:00:11
  - I believe it's a 1.75% fee after 5 years, plus they take 20% at sale, not what they leant (n/m) (General Chat) - CROMAGZ, Oct 8, 16:03:44
    - lent (n/m) (General Chat) - CROMAGZ, Oct 8, 16:05:39
    - yes, then it goes up 1% every year until you burst (n/m) (General Chat) - MIKEWALKER, Oct 8, 16:05:05
      - got to be better than renting though? (n/m) (General Chat) - SCC 28, Oct 8, 16:05:32
        
        Possibly. The proliferation of buy-to-letters has basically fucked things forever (n/m) (General Chat) - MIKEWALKER, Oct 8, 16:08:39
        
        yes they should all be locked up imo (n/m) (General Chat) - SCC 28, Oct 8, 16:10:43
        
        not saying that at all (General Chat) - MIKEWALKER, Oct 8, 16:13:15
        
        there is also money to be made from payday loans (General Chat) - SCC 28, Oct 8, 16:14:15
        
        ^^^VMT (n/m) (General Chat) - CROMAGZ, Oct 8, 16:12:15
  - would that be a lot? (n/m) (General Chat) - SCC 28, Oct 8, 16:01:13
    - Its all a bit vague but to me it reads like this (General Chat) - MIKEWALKER, Oct 8, 16:03:55
      - well surely... (General Chat) - CROMAGZ, Oct 8, 16:15:29
- They need to build more houses, not fuel another boom (n/m) (General Chat) - duke of york, Oct 8, 15:58:41
  - You do wonder about this lot (General Chat) - Old Git, Oct 8, 16:12:11
    - The former is out of consideration for the good burghers of Birmingham (General Chat) - Old Man, Oct 8, 16:36:32
      - and go to London?? Fuck me, out of the frying pan........ (n/m) (General Chat) - CB41, Oct 8, 16:38:52
    - Beats me (n/m) (General Chat) - duke of york, Oct 8, 16:33:40
  - so how would the boom be bad for people who do this (n/m) (General Chat) - SCC 28, Oct 8, 15:59:45
    - Bad for the poor first time buyers coming through (General Chat) - duke of york, Oct 8, 16:02:55
      - yeah thought so - not too bad then (n/m) (General Chat) - SCC 28, Oct 8, 16:04:06
        
        You don't want people in their 20s to be able to afford a home? (n/m) (General Chat) - duke of york, Oct 8, 16:05:20
        
        well i wasn't lol (General Chat) - SCC 28, Oct 8, 16:06:31
        
        Rising house prices is a fucking disaster (General Chat) - duke of york, Oct 8, 16:07:49
        
        ffs why can't things just be like 30 years ago (n/m) (General Chat) - SCC 28, Oct 8, 16:09:29
        
        15%-17% interest on mortgages again... (General Chat) - Pixelman, Oct 8, 16:16:01
        
        1983. Going to football was like going to war back then. (n/m) (General Chat) - Pit, Oct 8, 16:12:38
        
        If the government really wanted to help people buy homes (General Chat) - MIKEWALKER, Oct 8, 16:12:01
        
        Nail, head.... boom... (General Chat) - Pixelman, Oct 8, 16:20:48
        
        Probably wouldn't literally go boom, unless it was an exploding nail (n/m) (General Chat) - Old Man, Oct 8, 16:23:58
        
        property boom ahoy... (General Chat) - Pixelman, Oct 8, 16:28:13
        
        You could make the nail out of fulminate of mercury I guess (n/m) (General Chat) - Old Man, Oct 8, 16:24:19
        
        vmt (n/m) (General Chat) - duke of york, Oct 8, 16:12:39
        
        Had already started going to shit in 1983 (General Chat) - duke of york, Oct 8, 16:11:36
        
        40 then (General Chat) - SCC 28, Oct 8, 16:12:14
        
        1973 - start of the oil crisis which fucked the world. (n/m) (General Chat) - Pit, Oct 8, 16:13:45
        
        50? (n/m) (General Chat) - SCC 28, Oct 8, 16:14:44
        
        1963 - sounds good to me. CB41 - what was it like to be (General Chat) - duke of york, Oct 8, 16:18:45
        
        I'm told it was groovy man. (General Chat) - CB41, Oct 8, 16:28:45
        
        #lolcats (n/m) (General Chat) - Pit, Oct 8, 16:19:23
    - Every bubble bursts (n/m) (General Chat) - Old Man, Oct 8, 16:00:04
- will fuel house price inflation which will negate some of the benefit. (n/m) (General Chat) - Pit, Oct 8, 15:57:39
  - but rich cunts will lose out on rent money (n/m) (General Chat) - SCC 28, Oct 8, 15:59:00
    - i doubt it. rental sector is rampant. espc in LDN. (n/m) (General Chat) - Pit, Oct 8, 16:10:04
    - That's exactly how Osborne announced it in the Commons (n/m) (General Chat) - Old Man, Oct 8, 15:59:48
- Apparently the treasury will charge the banks 4% more interest than the banks (General Chat) - CB41, Oct 8, 15:56:25
  - There's the whole Propping The Economy Up On A Housing Bubble catch. (General Chat) - Arizona Bay, Oct 8, 16:00:28
    - Well yes, there is that. If I were a selfish c**t, I'd hope they really go rampant (General Chat) - CB41, Oct 8, 16:26:30
- It's the thing that keeps the door closed when you've shut it (General Chat) - Old Man, Oct 8, 15:54:15

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