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Reduce Right to Buy Discount

It is grossly unfair on all those who buy modest houses immediately and have to take out 95% mortgages, that others who have been lucky can have a superior financial position a number of years later.

How can it be right if someone for example has a £100k house, with a £95k mortgage, who after five years on current rates may have paid off £5-6k, be in a worse position after 5 years compared to someone lucky enough to get to play the system

If you get a council house, after 5 years you will get a 35% discount. So the same house could of been bought for £65k

Making the person who was lucky enough to have a council house be in a position where they have equity of £35k.... compared to the mortgage payer of £7k

Who probably in that time has spent more in mortgage payments compared to the council tenant & probably spent money on renovations etc, that the council tenant had paid!

Therefore, any discount should be massively reduced, and only be done at 1% per annum!

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Currently ranked 38,723 out of 104,776 petitions ever created.

Diversity index: 100%

Status

Closed

Created By

Mr Smith

Created On

Thursday 27 March 2014

Closing Date

Thursday 2 April 2015

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