Wealthy homeowners received millions in public money under Government scheme to help first-time buyers
Hundreds of millions of pounds of public money has been given to thousands of wealthy homeowners under a flagship Government scheme designed to help first-time buyers, new analysis has revealed.
More than 5,500 homeowners earning above £100,000 a year have benefitted from taxpayer-funded Help to Buy loans that are aimed at helping people get on the housing ladder, according to The Independent’s analysis of government data.
Since the scheme was introduced in 2013, 5,545 households with an income of more than £100,000 received Help to Buy loans, including 1,287 households that already owned a property.
http://www.independent.co.uk/news/uk/po ... 56631.html
Tories are only interested in helping maintain high house prices then helping wealthy people increase their wealth. No wonder we have a housing crisis and it's getting worse. Help for first time buyers sounds good, it's propaganda, like so much of Tory policy. Media friendly title but used to enrich the already wealthy rather than solve the problem it's purported to.
There was a documentary on tv last year about how many social rent or council houses had been built in developments that promised it. The result was near zero. It was dispatches and revealed how luxury housing was built rather than affordable homes. Some sites even sold by government to developers at knock down prices for the purpose of affordable homes.
The Great Housing Scandal: Channel 4 Dispatches
Harry Wallop investigates the failure to build enough houses in the UK, a generation have been priced out of the property market, but instead of affordable homes being built we find plush mansions and plans for luxury hotels. Dispatches also discovers deals done with big developers which could have potentially lost the taxpayer millions.
http://www.channel4.com/info/press/news ... dispatches
Tory corruption wherever you look.