Social Housing

Excuse me but what would be wrong with you mortgaging your own home, if you have one. Don't you want to help your son out, why should the taxpayer help your son get a home, it is this sort of attitude that destoys our society. If you can't afford it, tough.

However, there is another problem. Let us say that your son does buy the flat, and the developer can't sell the others. The other flats are rented out, let us say for social housing. Now then your son will live in a block of flats, which he is paying for, and hoping it doesn't fall in value, in the meantime the other occupants in the block are social housing. Now, who would want to buy a flat in a block with the other occupants being socially housed?

I think that your son has had a narrow escape, who on earth would buy a new flat or house where the value will decline as the new homes around become nothing other than council houses.