Help to Buy: mortgage guarantee available 3 months early – News stories – HM Treasury – GOV.UK

HM Treasury building

HM Treasury building (Photo credit: HM Treasury)

This is a quite amazing announcement by the UK Government‘s HM Treasury. It’s a MUST READ, in my view. Check it out!

Help to Buy: mortgage guarantee available 3 months early – News stories – GOV.UK.

The same HM Treasury has been proposing excessive austerity which has brought unnecessary financial and social hardship to millions of middle and working class people.

The latest initiative compensates for the banks that are still not prepared to lend on commercial terms. It is likely to be inflationary, creating a massive feel-good factor ahead of the next election.

Why don’t HM Treasury offer massive incentives to stimulate investment and exports? Also what about an enormous increase in foreign languages capability?

Any thoughts?

 

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5 responses

  1. Too early in the game to see how this will all play out in my opinion, not enough big boy banks getting into the game yet. Also a little too complex for your man in the street to understand, all the schemes are very similar in wording. Saying that though, with virgin Money stepping up very soon we will hopefully see the other banks take note and get a bit of competition going for business. It has to be noted though that this in no way makes home owning ‘Cheaper’, just a little bit ‘Easier’ in my opinion and there is always the interest to pay after year 5 to the government for guaranteeing the mortgage!!

  2. Pingback: Chancellor of the Exchequer, in China (with images, tweets) · hmtreasury · Storify « Dr Alf's Blog

  3. Pingback: Opinion: Help to Buy: mortgage guarantee available 3 months early – ex HM Treasury – John Gelmini « Dr Alf's Blog

  4. The Coalition are only concerned with one thing and that as Dr Alf,s question implies is getting re-elected.
    The electoral arithmetic is against the Conservatives and as Lord Tebbit has said,without change Ed Miliband is on track for number 10 Downing Street despite his economic and business illiteracy and despite the fact that the public turned their backs on socialism decades ago.
    Rebuilding British exports,inward investment and our dumbed down State education system would take concentrated work and effort and a long term strategic view.
    It would also take a real desire to improve the prosperity of everyone in the country.
    Sadly no politician is prepared to get the UK public to do what it takes to make that happen so facile attempts to throw money at the housing market are seen as an electoral quick fix which will then be followed by a severe clampdown making what is happening now pale into insignificance.
    Cameron and Osborne assisted by Clegg have wasted the first 3 years of this Parliament and will lose the election on the basis of present polls just because of the”bedroom tax” and its perceived unfairness.
    Cameron for all his laziness and propensity to open his mouth without thinking has now seen some writing on the wall and he does not like what he sees.
    We can expect more panic moves to win back a contemptuous public who would like to see him do something about immigration,jobs,policing and unfairness but despite what he says they will be disappointed .

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