Mortgages for people on UC. Is it the stupidest idea ever?

[Notch7]

It’s certainly near the top.

you can’t get UC if you have savings of £16k

what mortgage can you get with no deposit.

the govt haven’t bothered to discuss it at all with mortgage providers.

what forkwit came up with that pile of rancid hogwash

 

[fillyboy]

what forkwit came up with that pile of rancid hogwash

President Clinton originally I believe, 'ninja' mortgages (no income no job - everybody should be able to buy there own home).

What could possibly go wrong?

 

[Doug99]

Money lenders will not support the idea, so the taxpayer will be burdened with it again if made policy.

 

[conny]

I was under the impression that UC, (like it's predecessor UB), was to allow people out of work to have a minimum standard of living.
This, to me, meant being able to pay your standard bills such as average use of gas/electricity/water. Enough to buy basic food supplies for an 'average' family and other essential bills such as TV licence, clothing etc.
Many years ago when I had to claim 'dole' I was given the standard rate plus the cost of the interest on my mortgage. I was given nothing, (quite rightly in my opinion), to pay off the capital.
So to me, suggesting people on UC should be able to buy their own homes seems to intimate they get more money than they actually NEED!
If that is the case then lower the rates and it may 'encourage/force' the workshy to get off their games consoles, stop watching the huge plasma sky screens and actually earn their own income.

 

[charliegolf]

This is absolutely, totally, a ****** stunt so that Boris can feel good about himself and assure himself the little people love him. It will come to nought.

 

[Notch7]

Now tell them to ring a mortgage advisor and say “I want a mortgage and I’m on Universal Credit and my deposit will be £0.00”

 

[Notch7]

'encourage/force' the workshy to get off their games consoles, stop watching the huge plasma sky screens and actually earn their own income

In this wonderful country, you are never more than 2 minutes away from a good old right wing trope.

 

[Deleted member 294929]

It’s certainly near the top.

you can’t get UC if you have savings of £16k

what mortgage can you get with no deposit.

the govt haven’t bothered to discuss it at all with mortgage providers.

what forkwit came up with that pile of rancid hogwash

As dumb as it sounds there is this.

New 99% mortgage for first time buyers launches - how it works

It comes after Boris Johnson vowed to "fix Britain's broken housing market" by introducing a new 5% deposit mortgage scheme for two million first time buyers

www.mirror.co.uk

 

[Deleted member 294929]

It’s certainly near the top.

you can’t get UC if you have savings of £16k

what mortgage can you get with no deposit.

the govt haven’t bothered to discuss it at all with mortgage providers.

what forkwit came up with that pile of rancid hogwash

I too think it's pretty crap. But let's say a couple have £15999 each and parents tgst are prepared to lend them some money for a deposit. Then isn't this possible ?

 

[Notch7]

I too think it's pretty crap. But let's say a couple have £15999 each and parents tgst are prepared to lend them some money for a deposit. Then isn't this possible ?

Above £6,000 in savings reduces universal credit payments (I think, I’m not an expert on this stuff)

 

[Deleted member 294929]

Above £6,000 in savings reduces universal credit payments (I think, I’m not an expert on this stuff)

I don't understand UC but isn't it possible that they get their foot on the ladder in the hope that life and fortune will improve

 

[conny]

In this wonderful country, you are never more than 2 minutes away from a good old right wing trope.

I certainly don't consider myself right or left wing. More a moderate middle who just thinks, if people want things in life they should be prepared to actually work towards those goals, not expect to just sit back and have it handed to them on a plate through the efforts of others.

 

[Deleted member 294929]

I too think it's pretty crap. But let's say a couple have £15999 each and parents tgst are prepared to lend them some money for a deposit. Then isn't this possible ?

On a 99 year fixed term....

 

[Deleted member 294929]

,)(

 

[Deleted member 18243]

Why can't Johnson just print a few more billions in funny money and buy everyone a house?