POLL: Does todays changes help your situation - Stamp duty & interest free mortgages?

A_little_stressed!!

The new changes to stamp duty - none for properties under £175,000 (1year)

And the possible interest free mortgages for buyers of new builds.

Will this make a difference to your situation?

Whether your a buyer or a seller your input would be great!

ginvzt

Where is the poll?

A_little_stressed!!

I have to make it after my post! It only lets you do it after!

chartreuse_2

I put "Don't Know" because the blessings are mixed:
- On the positive side, the Stamp Duty thing should help, as our house is prob worth £165K - £170K.
- On the negative side, the 30% other stuff might well push FTBs towards new build and away from resale properties.
- Where I'm more uncertain, much of the stuff appears to be aimed at propping up housebuilders or preventing reposessions. While this won't directly benefit me, it might act to prevent a fire sale on properties, which could only drag values down. So I might be cautiously optimistic about it, though I'd have preferred it if the assistance was available for all types of property.

Maseillo

I put "Don't know" too. The stamp duty won't have much effect on us as we won't be able to find a property for less than the new threshold that would be big enough for us and our 2 children. Not at the moment anyway. We are priced out of our area completely - we can't get a mortgage for above about £120,000 at the moment! I don't think this will kick start the market either - the problem is clearly that prices are too high and first time buyers simply can't afford them! Being able to save a max of £1750 in stamp duty isn't going to make people buy I don't think. I mean it's a bonus for those people who are benefitting, but it's not going to rescue the whole situation. Also the 30% loan bit - it's only on new builds so won't help people buy resale houses - therefore won't help the people trying to sell their houses who can't! Also the details arn't very clear - its a free 5 year loan - so what happens after the 5 years? In 5 years time will we be landed with huge payments??

I have no idea what the solution would be to help, but I'm sure that although this may be a bonus for a few in that they save some money, I can't really see how its the solution. I'm pretty sure that people arn't not buying houses because they can't afford the stamp duty - more that they can't afford the deposit they need!