expressman33 wrote: ↑
Sat Feb 05 2022 3:00pm
macliam wrote: ↑
Thu Feb 03 2022 4:09pm
................ and Sunak mortgages our futures to the market - a lump sum this year to be paid for over the next five years.
Someone buying a house in December won't get the £200 rebate will will have to pay £40 for 5 years
The mechanics of how the scheme will work have not yet been announced/worked out. So I am not sure how you know that. According to the Paul Lewis Money Box programme
today on Radio 4 and to this article
Rishi Sunak announced a repayable £200 discount on bills for homes in England, Wales and Scotland from October.
The exact mechanics of how this will be knocked off the bills, and repaid over the subsequent five years, have yet to be explained in detail.
However, you are expected to have to pay instalments of £40 in each of the five years from April 2023 through your bill. This indicates there is no interest to be paid.
The support announced by the chancellor on Thursday covers people who use pre-payment meters too.
The process of giving you the temporary discount on bills is a little more complex - the details are still to be ironed out.
In all likelihood, anyone on a newer "smart" pre-payment meter will get the funds transferred automatically.
About two million people are on old-style pre-payment meters. They will probably need to redeem a voucher.
I am aware that the other Martin Lewis from moneysaving expert.com is saying in a video what you have repeated. But he is also a bit premature.
The government has until October to elaborate on their plans. There is still a lot more information to come and speculation before the details have been announced does not help at all. What you say may or may not come to pass. But there is no information in the public domain apart from speculation to back it up as yet that I am aware of. Also to come is the detail on what happens when people move supplier.
There is no doubt that it is an ill-baked half thought out scheme by this current incompetent government. Also that it is a (compulsory) loan rather than a rebate as announced by Rishi Sunak.
Announcements followed some time later by the details of how schemes work seems to be the order of the day