PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Government to temporarly scrap stamp duty up to £250k?

Options
blizeH
blizeH Posts: 1,365 Forumite
Name Dropper First Anniversary First Post
in House buying, renting & selling
Hey guys,

Just heard on the BBC news that it's quite likely that the government will be temporarily scrapping stamp duty up to £250k - has anyone else heard anything about this? Or when it might come into play?

I'm currently half way through a house purchase - got the mortgage etc approved and it may only take a couple of weeks or so before everything's sorted, is it worth me trying to stall by a week or two as it's potentially quite a substantial saving?

Thanks
«134567…11

Comments

  • blizeH
    blizeH Posts: 1,365 Forumite
    Name Dropper First Anniversary First Post
    Options
    Oh, it's the budget tomorrow - sorry I'm stupid, I'll wait until then and see what they say :)
  • DaddyBear
    DaddyBear Posts: 1,208 Forumite
    Options
    Another attempt to keep the house price bubble inflated..... yawn. Labour clearly trying to buy more votes with the property dream.
  • ParanoidAndroid_4
    ParanoidAndroid_4 Posts: 10 Forumite
    Options
    We are due to complete our purchase as first time buyers on Friday - can anyone remember precedence from last time - would this come into effect immediately if announced tomorrow?
  • CloudCuckooLand
    CloudCuckooLand Posts: 1,905 Forumite
    Options
    Unlikely. 1st April - which would be a real joke, or perhaps 6th April being new tax year...maybe.

    I think its a smokescreen, for the Govt to appear strong by "fighting off" the temptation to offer goodies, and dealing with the debt instead.
    Act in haste, repent at leisure.

    dunstonh wrote:
    Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.
  • ParanoidAndroid_4
    ParanoidAndroid_4 Posts: 10 Forumite
    Options
    CloudCuckooLand wrote: »
    Unlikely. 1st April - which would be a real joke, or perhaps 6th April being new tax year...maybe.

    I think its a smokescreen, for the Govt to appear strong by "fighting off" the temptation to offer goodies, and dealing with the debt instead.

    That would be frustrating, we tried desperately to complete before Xmas but our vendor stalled things for no reason (it's taken 5 months with no chain!). How "set in stone" is a completion date?!
  • CloudCuckooLand
    CloudCuckooLand Posts: 1,905 Forumite
    Options
    Wait until tomorrow. If it does happen, the market will come to a standstill until the date it applies from...

    Unless Labour really want to blow the debt, and back-date to cover the period since the £175k was removed, too...

    Never sure about anything these corrupt people might try to keep their noses in the trough.
    Act in haste, repent at leisure.

    dunstonh wrote:
    Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.
  • ParanoidAndroid_4
    ParanoidAndroid_4 Posts: 10 Forumite
    Options
    Yep - a case of wait and see! Thanks for the quick replies, CloudCuckooLand!
  • tootsmyboots
    tootsmyboots Posts: 198 Forumite
    Options
    ooh, we are part way through a purchase too, will be interesting to see what happens. Though if it causes our buyer to delay we will end up spending more renting. Will be watching intently!
  • barrybarryr
    barrybarryr Posts: 98 Forumite
    Options
    I'm interested in this too. I exchanged today but don't complete until 22 April.

    I may be lucky.
  • harding1985
    harding1985 Posts: 224 Forumite
    Options
    Also halfway through a house purchase at the moment, expected the complete mid April, extra 1500 in my pocket would come in handy :)
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.6K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.8K Work, Benefits & Business
  • 608.8K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards