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Plaid welcomes help for house buyers

By South Wales Evening Post  |  Posted: November 14, 2012

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A MORTGAGE guarantee scheme backed by the Welsh Government and house builders has been welcomed by Plaid.

It will come into force in the spring and is backed by £27million of Welsh Government cash.

It will see home builders and the Government act as guarantors for first-time buyers and those living in housing pressure areas.

Plaid has been calling for action to help people get on to the housing ladder.

These proposals have included a "rent now, buy later" scheme outside of social housing and help for first-time buyers in areas where demand for second homes has pushed up prices.

The party's housing spokesman Rhodri Glyn Thomas said: "We welcome the mortgage guarantee scheme which builds on the work the Party of Wales started under the One Wales Government with the home-buy scheme. Plaid believes that sufficient support should be available for first-time buyers who find it extremely difficult to make their first step on to the property ladder."

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  • Dan01  |  November 15 2012, 9:41AM

    If you look at the Rightmove website you will find over 200 properties for sale at £100k and under in the County of Swansea alone. Majority of these are perfectly good for first (or second) time buyers. Problem is the government will not provide any form of assistance to buyers for these, whereas they make it far easier for buyers of new, overpriced , homes. A lot of young buyers would prefer to buy a traditional older property but are being pushed towards overspending on new ones, inevitably leading to more financial problems and repossessions in due course.

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  • williamwaun  |  November 14 2012, 11:13PM

    Totally agree with you Neathboy. We go through life and I don't understand why people worry about money housing and benefits. Make the most of your life, travel,enjoy your family and make sure you and your partner are happy. We all have to do something, and that is die. So when we go down we can say we had a great family and travelled the world and met many good people and had a great time. The last thing I will be remembering is I had a 200k house and now I'm dead.

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  • Neathboy234  |  November 14 2012, 10:55PM

    Dan01 thats the problem some who have only just bought want them to go up, those who are yet to buy want them to go down. Me i'd rather see them more affordable. BTW i do feel sorry for your son and others in his position, but at the end of the day it was going to come to an end. As they say the bigger the boom, the bigger the bust

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  • williamwaun  |  November 14 2012, 10:48PM

    Dan01 What if your son wanted to buy an house now like many youngsters. The average tidy home is about 130,000. The last government crippled the people. I feel sorry for the people who have a average paid job who can't afford a average home. Boom Bust, house prices boomed but never bust, that's what we need.

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  • Dan01  |  November 14 2012, 10:24PM

    Neathboy234, it may be ok for you if prices dropped further but there are thousands,my son included, who purchased their houses circa 2005 who are in negative equity and can't move house to take up new jobs etc. Not their fault that property was at ridiculous levels at the time. Many have lost their jobs during the recession and are now in dire situation.Their desperate hope is that property prices will recover fully sometime soon.

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  • Neathboy234  |  November 14 2012, 4:50PM

    williamwaun i agree with you, and like yourself would like to see further falls in house prices. Just before the year 2000 i bought my 4 bedroom detached house for £98,000. I watched it go up and up in price, it was just total madness. To be honest i wouldn't care if it feel all the way back to 98k. At the end of the day a house is for living in, not an investment

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  • williamwaun  |  November 14 2012, 2:53PM

    From 2001 to 2011 the price of the average home increased by 94%, while wages rose by just 29%, according to the NHF. The last government borrowed and let people get into debt, and if they was in power now, god help us. The average worker who would love a house cannot afford one, the problem was people wanted an home to make money, it's an home for life. Can't stand the Labour party they have ruined this country for me and my children's future.

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  • Stork  |  November 14 2012, 1:55PM

    First time buyers will be pushed to be able to afford new build houses. There was a 2 bed new build "affordable home" on BBC Wales Today last night. "Affordable" at £130,000 ! First timer buyers want affordable homes at about half that price.

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  • Dan01  |  November 14 2012, 9:24AM

    Sounds fine in principle but the important thing is that the borrower can afford to repay the loan. The guarantee covers the lender not the borrower. Easy borrowing contributed to the mess the country is currently in. And the scheme only applies to new builds which are usually overpriced in the first instance, leading to negative equity and repossessions. Help is needed for people to buy an "used" first home. That would assist in moving the entire property market, where currently chains are blocked at the bottom end.

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