In November 2012, George Osborne made £450,000 profit selling his taxpayer-funded second home
It’s time the Opposition told people just how big a political con Help to Buy is, why it is using public money to reelect the Conservatives, how it only helps Tory donors in the construction industry, and why it can only make Britain’s housing problems worse. The Slog offers a briefing to the Ed Miller Band ahead of PMQs tomorrow.
Some of you may not have realised this, but take a squint at this excerpt from the Government’s guide to Help to Buy (HTB) – emphases are mine:
‘The Help to Buy initiative involves an equity loan scheme which is available onnew build properties up to the value of £600,000. There is no salary cap for purchasers, and it is available to both first time buyers and existing home owners. Eligible purchasers receive a Government loan of 20%, which means that they only need to put down a 5% deposit and obtain a 75% loan-to-value mortgage…’