Stamp Duty on NewBuild

jonnelson2008

I am currently in the process of buying a newbuild house from Wimpey. Nightmare i know, but hey. Anyways, at the time of making my reservation and paying a £100 deposit, one of the incentives they included was that they would pay the stamp duty for me. This totals £1370. (1% of the house price). Now that the stamp duty has been put on hold for 1 year, should i be entitled to something back from Wimpey. Should i get that money back in carpets for example. Or will they just tell me no way ??!!

Thanks in advance
Jon.

Treadmill

Your best bet is to ask for the £1370 to be taken off your final bill, and borrow £1370 less on your mortgage. I'd be very suprised if they tell you no way.

chickmug

What the builder means is that they would of taken off the amount at legal completion. Perhaps you can ask and hope they give you all but if I were the builder I would try at 50/50.

Another case of asking and playing the game of 'poker' as is the house buying process.

Richard_Webster

In the present market I would still ask for the whole £1370 off. After all the builder was prepared to stand that "loss". Your solicitor will probably still have to report the incentive to your lender.

lonestar1

May not be keen to take 1370 off the price as it would reduce the price of unsold properties (Lan Registry would show cheaper sale price) but they should certainly be able to give you more than 1370 is extras like carpet,fittings etc Dont forget the 1370 they would have spent paying stamp duty is hard cash the extras they can offer may cost you 1370 but the builder will get things much cheaper than you so I reckon you could maybe get 1700 worth of extras or even more