Stamp duty threshold increased to £175k for one year

pawpurrs

I would have thought you would be just in time as Stamp duty is paid on completion.

mattpoker_2

Just spoken to someone else at the company - they haven't been given guidance yet as to whether it's from exchange date or completion date. Apparently, it's been both in the past.

moike

HammersFan wrote: »

It's my guess that the 175k threshold will become permanent, and that other thresholds will be adjusted upwards also (a guess would be the 250k one being lifted to 300k and so on). Labour has an established record of nicking tory ideas. When all of this comes up for review, the election will be very close, so I just can't see it being withdrawn.

Well as each step has been double the previous, it would be logical to make them 175, 350 & 700, but I'm more than happy with the current change !

dannyboycey

If the 175k house loses 30% of it's value as a result of current market conditions, it would have been under the threshold anyway. Net result = absolutely nothing gained.

Whilst this move will no doubt please many simpletons, it will not stop the downward trend of house prices. It will be welcomed if it remains after a year, as it will give prudent savers a little more purchasing power when the market eventually begins to rise again. If they do infact revert back to the previous thresholds though, the whole thing will have been another pointless PR exercise by Brown and Co.

lkk88

I exchanged contracts yesterday and am waiting to hear from my solicitors if I can get my stamp duty back - my guess is they dont yet know. As soon as I know if it is exchange or completion you pay on I will let you know! PLS BE COMPLETION!!!!!

epz_2

fimonkey wrote: »

Or even a rising effect? Some of the properties I've been keeping my eye on are two bed freeholds in the Bournemouth/Christchurch area. They're currently at £160K and I was hoping to see them drop to about £150K, but now I wonder if property bee will show them rise?

btw, I think the Queensland Government gives about $3000AUS to FTB's for their deposit. (Or used to be something like that in 2004).

I cant see them going up, any 190k houses are going to be dragged under the 175k bar, its unlikely a 150k house can compete against a 190k one

re gifting deposits to ftb's, the logic of taxing people losing a chunk of the cash on admin and corruption then giving it back out escapes me.

neas

Its the banks who will decide... if they wont give mortgage to joe bloggs with no income and low deposit then they will keep on sliding down.

In the end house price crash is good for us if its slow.

geoffky

It Will Cut The Losses On One Month From 4grand Down To 2 Grand.....wow

steadysaver

If people can't afford 1% of the property price then they should not be buying to start with.

Just the Government trying to win votes from the uneducated masses. Early spring 2009 election maybe? Doubtful

Now if only carlsberg did elections too.....

LittleMissAspie

I don't see how this will make much difference to FTBs. The price of 175-200k houses will now come down but FTBs wouldn't be paying that much anyway.

The bottom rung is still out of reach, and furthermore, 125-140k houses now have no incentive to lower their prices.

This only helps the 2nd or 3rd time buyer.