The Green Party wanted to abolish both the ‘Right To Buy’ and the ‘Help To Buy’ schemes completely, giving power to local authorities rather than buyers. The scheme would encourage those having difficulty meeting their mortgage repayments to transfer the property’s ownership to the local council, who would also build additional homes or purchase them on the housing market in High Park Residences.
High Park Residences
The Liberal Democrat Party advanced the programme, which was least attractive to estate agents, proposing to create 30,000 Rent to Own houses, where tenants would pay over thirty years and eventually own their home, rather than buy it with a High Park condo mortgage loan in the normal way.
Both Labour and the Liberal Democrats proposed a “mansion tax” on very expensive homes. The Mansion Tax idea was panned by property analysts and experts as being one which would have detrimental effects on the economy and repercussions on the whole property market. They claimed that the tax, on homes worth over two million pounds for High Park CEL, would adversely affect overseas property investment, thus having a considerable effect on the UK economy. The p proposal is said to have caused a drop in property demand before the May 7th General Election.
CEL Fernvale Development
Such a tax would hit owners of high value properties, fernvale developers and overseas High Park Residences buyers hard and would turn buyers into renters and also would affect owners, who bought their homes, for a modest sum, a long time ago, in now desirable areas where house prices have risen sharply.
Ed Mead, Douglas, Gordon and Mead’s Executive Director claimed that property accounts for roughly 10% of the UK economy and that the tax would choke off demand and activity at the top end of the market, which, in turn, would negatively affect the entire residential property market.
Highpark Residences CEL Sengkang
Rising United Kingdom property prices mean that more and more High Park Residences properties fall into the two million pounds level. Knight Frank warned that the prices of such properties would fall to below the threshold, meaning lower estate agent commission fees and throwing the housing market into disorder. The company further warned that owners who are cash poor and under these schemes would not need to pay the tax until the home was sold, would avoid selling to avoid the tax, causing stagnation in the top end market stimulating price rises and competition on more modestly priced homes in High Park Residences.