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23. Mars 2013, 00:24:34

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Sujet: Re:not the same as mae or mac... even though it essentially does the same thing?

Iamon lyme: It doesn't though, not imo. In the end your banks sold mortgages to other companies, who sold them onto other companies, etc.

...not the same as this.

Any lenders will have to pay a fee to have it 'underwritten'.

It seems the rules will be..

5-20% deposit
20% shared equity loan
75-60% mortgage

It replaces a system called FirstBuy, which helped first time buyers.. now it is being extended to those buying a new home under £600,000 ($900,000 approx)

It does not sort out the problem of a lack of social housing which started in the Thatcher years. Long term tenants were allowed to buy their homes at a greatly reduced price. The money went to the councils, but they were not allowed to reinvest it in new stock by order of Queen Maggie.