#372134 - 01/12/11 09:15 PM
Re: so, any public sector workers about
[Re: Burn4]
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Registered: 01/03/05
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Loc: Westbury-on-severn, Gloucester...
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Did some searching earlier and yes the gap has narrowed but it's still there. re: mortgages anybody on a low income can get help on a shared ownership house. It's not just for key workers like it used to be. As long as your a first time buyer and earning under 60k household income a year you can get one. At current they do pay into their pensions. When the rates go up under this scheme they are going to pay more and get the same or less back. My mum will be paying an extra 60% over what she does now and getting the same back. When she signed up to the pension scheme it was a final salary scheme. When you pay for something you expect it to be the same and not change. I'll stick with  explaination as it explains it perfectly. Ask the hr manager or accountant in the firm you work for about your pension schemes. Most companies have one or have a look for one yourself from a private company?
Edited by Micky (01/12/11 09:16 PM)
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#372135 - 01/12/11 09:21 PM
Re: so, any public sector workers about
[Re: Scotty]
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MountooningTipster
Registered: 26/08/07
Posts: 11640
Loc: here
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Quote:
Private sector... well... we are getting f**k all at the moment... no contributions and no decent pension plans. So... if your willing to oppose my view then go for it... but i guarantee i'll have a better argument.
Solution... The last government employed FAR too many public workers and initiated stupid job roles. Over 1 million jobs were created during the recession to which ALL these people are entitled to the healthy pension. Well... get rid of all these job roles and this will free the money for essential services such as teachers, nurses, boarder staff etc.
Instead of the government asking for a larger contribution to the pension they actually reduced your wages by £2,000+ a year... This is probably what should be done to keep all public sector people in work. I could understand people kicking off then.
anyone can take out a private pension or other long term saving, likely they do not bother in todays must have society
is there something wrong with having people in employment or rather have them on benefits, people with money circulate it back into the economy and create jobs. This has been an issue with people in this country for a long long long time perpetuating that having a job is a bad thing, mainly aimed at PR workers, jealously I guess but we come to your business and buy things keeping you in a job. Okay some quango employment has been created which would have been better diverted say doing admin for police to get them on the streets, or doing something for the community cleaning streets...............
IF you want to talk government created job roles then please look to Europe the government jobs created there on mega money, if the public knew just what the EU is ordering pan governments to do and create and the private companies taking contracts from this and I mean multi multi million pound deals for "things to be created" then the recent riots would look kids play in a park when it kicks off
uumm, some PS workers earn very little and these are the majority grades, percentage decrease across the whole civil service may have been a way.
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#372136 - 01/12/11 09:25 PM
Re: so, any public sector workers about
[Re: Adam08]
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MountooningTipster
Registered: 26/08/07
Posts: 11640
Loc: here
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Quote:
I agree with raising the age, why should public be able to retire earlier than private, you can't say the jobs are harder, not saying they are easier either
agreed but staggered to lessen the financial burden that we have already planned ahead for what we thought we were getting, I get a pension forecast every year, this is in writing can I legally challenge this, probably not.
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#372137 - 01/12/11 09:28 PM
Re: so, any public sector workers about
[Re: YellowBadge]
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MountooningTipster
Registered: 26/08/07
Posts: 11640
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stay well clear of shared ownership schemes when buying a house.
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#372138 - 01/12/11 09:34 PM
Re: so, any public sector workers about
[Re: YellowBadge]
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Registered: 01/03/05
Posts: 11552
Loc: Westbury-on-severn, Gloucester...
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Quote:
stay well clear of shared ownership schemes when buying a house.
I do know. I lost 90k and had to go bankrupt because of that f****** ******* usless waste of space scam. (sorry if anybody took offence to my language)
Just saying that anybody can get them not just public sector workers.
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#372139 - 01/12/11 10:43 PM
Re: so, any public sector workers about
[Re: Micky]
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Registered: 25/05/10
Posts: 8576
Loc: Birmingham, England
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Quote:
Quote:
stay well clear of shared ownership schemes when buying a house.
I do know. I lost 90k and had to go bankrupt because of that f****** ******* usless waste of space scam. (sorry if anybody took offence to my language)
Just saying that anybody can get them not just public sector workers.
was just thinking "maybe I should look into one of those" then read this and changed my mind back 
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#372142 - 01/12/11 11:30 PM
Re: so, any public sector workers about
[Re: Duncan_P]
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The idea is good but the way it works isnt. As the tennant you are resposable for the property. Paying for any repairs boiler services etc. The h/a doesn't put any money towards repairs no matter what % you buy. But the biggest point is you don't get a house at the end of it. Even if you get up to 100% You are buying into the lease which is the right to live there. The h/a can move you to another house. Sell the land from under it [freehold]. If you miss a few rent payments they can also take the house off you and not give you any of your money back Shocking they can get away with it but it's all in their small print. 
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#372147 - 02/12/11 01:30 PM
Re: so, any public sector workers about
[Re: Micky]
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MountooningTipster
Registered: 26/08/07
Posts: 11640
Loc: here
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Quote:
The idea is good but the way it works isnt.
As the tennant you are resposable for the property. Paying for any repairs boiler services etc. The h/a doesn't put any money towards repairs no matter what % you buy.
But the biggest point is you don't get a house at the end of it. Even if you get up to 100%
You are buying into the lease which is the right to live there. The h/a can move you to another house. Sell the land from under it [freehold]. If you miss a few rent payments they can also take the house off you and not give you any of your money back
Shocking they can get away with it but it's all in their small print.
all correct, however you can exercise your right to buy the freehold but only when you have bought 100% of the leasehold, typically you buy the leasehold in stages so you might buy 50%/75% of it first in return for this large discount though you also pay quite a high monthly rent. Negative Equity can also have a bigger impact on SO houses.
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#372148 - 02/12/11 01:34 PM
Re: so, any public sector workers about
[Re: Micky]
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MountooningTipster
Registered: 26/08/07
Posts: 11640
Loc: here
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Quote:
Basically yes.
You get your money back when you sell much like a normal house but even then selling is a pain. Everything has to be approved by the housing association.
Also most will be mixed in with council propertys (before i get slated i know all council estates aren't bad be tbh most are) We didn't know this and were told the new estate was s/o and private rents which is why we got stung when the gypos arrived.
We had a 40% share and the rent was something like £318 a month. Oh yeah forgot about that. The rent goes up each year too. The scumbags kept that one quiet! And a small 24k mortgage which was £150 a month.
We paid 95k for our share. Due to how the area went and it was overpriced to start with sold for 47k. We got that desperate.
And after all the debt we racked up running two houses(we had to move for saftey reasons) we got a massive 3k back.
So not a happy s/o experience.
lease premiums and increases are all listed in the actual Lease which should be read fully by the purchaser/solicitor.
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