I really don't understand this.............

[Bugsy]

Newsnight, last night.

An ordinary family, both parents have recently lost their jobs with Woolworths. They are unable to keep up with their mortgage payments and are about to be repossesed. The council will put them in rented accomodation up to a maximum of £625.00 a month. (dead money)

Why don't the council help them with their mortgage instead, retaining a future claim on money spent ffs, and allow the family to stay in their own home ?

It just seems crazy to me.

.

[Théière]

I presume their mortgage repayments were £626.00 [:(]

[Furry Knickers]

Why don't the government buy the houses under threat from reposession? They need more council properties after selling them all off in the 80's and 90's, so instead of building new ones and creating more monstrous carbuncles, they should buy up some of the glut of properties on the market with low interest rate tracker mortgages and rent them out to the the unfortunate. They could prioritise those being reposessed and rent them back to the householders instead of seeing them joining the council waiting list and thus exacerbating the situation.

[Théière]

Furry, I don't believe the councils buy any properties these days, they sub all that out to housing associations. That is the housing associations spend the councils money but share in the profits, just another way to spend everyones council tax.

 

[Furry Knickers]

I know they now mainly sub to private landlords and associations, buy surely they should buy their own properties now with prices and interest rates so low, and they will have a long term investment and would boost the housing market and the overall economy too. It's far cheaper to buy now than rent (if you can get a mortgage) I know a couple that have a £140,000 mortgate that only costs them £52 a month.