UK Politics - July 2022: Jämmerwrigglerung

Let’s start this month off with a doozy

I genuinely despair.

11 Likes

Damn that’s bleak. :pensive:

1 Like

Generational wealth for some, generational debt for everyone else

3 Likes

Love to inherit my parents’ house and have to keep paying the mortgage on it until I die.

6 Likes

Playing to the base aren’t they (old people). I have power of attorney though so one sniff of this and she’s going down the salt mines.

2 Likes

is it possible to legally disown yourself from your parents? like a divorce.

3 Likes

So you can say you have a plan to make it easier to buy a house AND the banks get more in interest and house prices don’t have to come down. Lol

Mental gymnastics to avoid just building more homes is the one thing that unites right and left in the UK, we should probably have some gratitude for it not really obviously

2 Likes

Can’t see that lenders would be particularly interested in this unless the kids are already of age and earning well, so able to become additional parties to the contract.

The risk of default becomes too great otherwise.

1 Like

Generational resentment taken to its logical extreme. Top Torying.

2 Likes

IF YOU KNEW ABOUT THIS DOMINIC WHY DIDN’T YOU SAY ANYTHING.

FUCKING PRICK

8 Likes

First draft of the seeker by the who was rapidly rewritten

1 Like

Completely shits on the potential benefits of rightsizing / downsizing too, as it’ll increasingly trap people in houses that are way too big for what they need.

Someone must have pointed out that banks turning down 40 year old’s mortgage applications on the basis their parents are 75 and still owe a couple of hundred grand is going to be an absolute shit show for the market.

The next generation won’t be obligated to keep paying the mortgage; it’ll be an option available to them.

The purpose of the policy is solely to prop up house prices. It won’t make it easier to buy a house, it’ll just allow house prices to increase by another 20-30 years’ worth of repayments

5 Likes

I imagine it will make probate an even less enjoyable experience too.

Plus the banks will get more opportunities to turn the market value of their assets into real cash.

For all my dislike of Jack Lopresti (nearby Tory MP) it was interesting to see him saying house prices need to fall in his column in the local paper a while back. I don’t think that would go down well with the homeowners of Downend

Obviously conservatives in the UK have been thinking about forced birth of late as well

2 Likes

Heaven forbid that they consider reducing housing costs, increasing housing security or reducing childcare costs.

8 Likes

No. More white babies

1 Like