Why we need more council houses

May 1, 2017May 1, 2017 / Minimalist Christian / 1 Comment

The chart below shows the income distribution in the UK (latest figures available from government statistics) and the corresponding amount that you can borrow if you have a 10% deposit (using the Halifax building society mortgage calculator).

Two thirds of the working population would be earning too little to buy a house for £150,000 by themselves. If you do not have the ‘bank of Mum and Dad’ then you have no chance.

Your only option is to rent, from the private sector, at a cost that is higher than your mortgage repayments would be if you were able to get a loan.

That is why we NEED more council houses.

That is why I’m voting for a Labour government. (see Pledge 2)

A tale of housing exploitation….

December 28, 2016November 21, 2021 / Minimalist Christian / 6 Comments

Here is a tale of the exploitation, told from the point of view of a young single girl trying to find a home.

How to really make Britain great again.

December 26, 2016December 26, 2016 / Minimalist Christian / Leave a comment

The headline tells us “Brexit to send UK tumbling down world economic league table…”. and we ask “Is this making Britain great again?”

But the headline, indeed the whole question of where Britain ranks in the world economy has absolutely NOTHING to do with whether Britain is great. What matters is whether Britain is becoming more human.

Being human has nothing to do with the economy or wealth, but everything to do with values. It is about valuing everybody equally, irrespective of colour, class, wealth or religion. It is about selfless behaviour for the good of others. It is about acting with integrity and speaking truth. It is about doing what is right, irrespective of the consequences.

Britain will become great when those who are well off are willing to contribute enough to ensure the wellbeing of those who are not well off, when we are willing to give up our own comforts for those who have nothing, when we are willing to give sanctuary to those fleeing war dispite the risk of personal harm.

Britain will become great when we stop expecting a political system that gives everyone all the rights that they demand, but encourages us all to self-centredness. We cannot demand perfection from public services that we are not prepared to fund. We need to stop demanding perfect treatment from others, when we cannot give it ourselves. We need to stop demanding that teachers work until midnight to keep up. We need to stop expecting to be treated in A&E within minutes when we have drunkenly staggered into a lamppost. We need to stop abandoning our personal responsibility for our own circumstances.

Britain will become great only when we choose to love one another; when we learn to contribute what we can, and to keep our expectations of others reasonable. That is my hope for 2017. Make it yours.

Worried about where your children are going to live?

August 22, 2016 / Minimalist Christian / Leave a comment

Worried about where your children are going to live? You should be.

The average house price in the UK is around £300,000, with average first time buyer house price at around £200,000. https://www.theguardian.com/business/2016/may/16/average-asking-price-first-time-buyer-home-buy-to-let-stamp-duty

If a prospective first time buyer has raised the £20,000 deposit, then taking into account costs they will need an income of around £39000 a year to be offered a mortgage. And they will be charged around 4% for the privilege. http://www.halifax.co.uk/mortgages/mortgage-calculator/calculator/#

Only the top 20% of earners in the country have that level of income. http://www.salarygraph.co.uk/

So, if your children want a home of their own, then without help they will need to be in the top 20% of wage earners.

How can you help as a parent? Here’s one example. If you own your home and have paid off your mortgage already then you could take out a mortgage on your home at a much better rate, and then lend the money to your children. Suppose your home is the average value, then you would need to borrow just under 65% of the value. An offset mortgage with the Coventry for instance offers a rate of under 2% (lower because of the better loan to value ratio) http://www.coventrybuildingsociety.co.uk/mortgages/AccountSummary.aspx?socseqno=1&prodCode=OFL50&Company=1 Taking out an offset mortgage on your own house also means that you can set up the mortgage before your children need the money to buy a home. So even if they are some years away from wanting to buy, you can still be putting arrangements in place.

But you could make good use of the funds in the meantime. Why not do something immediately to help others who are desperately in need of homes? Think about the suggestion in this article: https://www.churchtimes.co.uk/articles/2016/29-april/comment/opinion/use-what-power-you-have-to-help-the-poor . Or if you want even lower risk, then you could buy a house and lease it to your local council. http://www.independent.co.uk/arts-entertainment/let-your-home-to-the-council-paul-gosling-reports-on-a-tenant-who-could-prove-ideal-1535702.html

The housing situation is difficult, not just for our own children but for many others. This is worrying, but I hope this short article shows that as individuals we are not helpless. If you are in a position to help, then why not have a go? It can be fun and rewarding.