Does anyone know if there will be any provision in the universal credits for those low paid workers with mortgages?I know under the present system there is for mortgage interest payments for the very low paid or unemployed.
I know the arguments against it, but to give an example, we have a small mortgage, less than £450 a month. We don't take up any vital social housing and obviously have to cover our own repairs and maintenance.
Someone in the Same position as us but in rented property would be about £400 a month better off due to HB they would receive.
I understand that after the mortgage term we own a property, but when you factor in that someone in rented property may cost the tax payer for 50-60 years and the extra costs of maintenance. Also any low paid workers who decided to sell their property would be subject to the UC rules on capital, so it isn't an obvious asset in those regards.
Also, you hear that many who get older having to sell their properties to pay for care.
I know there will be many strong opinions about this, but it just seems to me that if you are a low paid worker it is wiser not to try better yourself, certainly not by buying property anyway, because it seems that you pay extra in the short term only to have it taken from you in the long term, whereas
those in social and private rented properties get HB ad infinitum, have no worries with repairs etc..., week to week they have a better standard of living which is frustrating when I see it all around me.
I know the arguments against it, but to give an example, we have a small mortgage, less than £450 a month. We don't take up any vital social housing and obviously have to cover our own repairs and maintenance.
Someone in the Same position as us but in rented property would be about £400 a month better off due to HB they would receive.
I understand that after the mortgage term we own a property, but when you factor in that someone in rented property may cost the tax payer for 50-60 years and the extra costs of maintenance. Also any low paid workers who decided to sell their property would be subject to the UC rules on capital, so it isn't an obvious asset in those regards.
Also, you hear that many who get older having to sell their properties to pay for care.
I know there will be many strong opinions about this, but it just seems to me that if you are a low paid worker it is wiser not to try better yourself, certainly not by buying property anyway, because it seems that you pay extra in the short term only to have it taken from you in the long term, whereas
those in social and private rented properties get HB ad infinitum, have no worries with repairs etc..., week to week they have a better standard of living which is frustrating when I see it all around me.