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Mortgages & child maintenance
Comments
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Thanks - do you pay 3% on the whole amount of the purchase price or is it stepped like income tax, eg, if we bought a property for £350k would be pay 1% up to £250k? Sorry to ask so many questions!Forever I will sail towards the horizon with you0
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Jewel wrote:Thanks - do you pay 3% on the whole amount of the purchase price or is it stepped like income tax, eg, if we bought a property for £350k would be pay 1% up to £250k? Sorry to ask so many questions!
Yes you do! it's not stepped hence property price voids such as between £250k-265k as the stamp on a £249000 is £2490 whereas a £251000 purchase puts £7530 in the government's coffers.
SSI am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
Jewel wrote:I don't agree with stamp duty!!! But I suppose I would have to pay it!
I think you might have to.
SSI am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
Indeed - Stamp duty is paid on the full amount depending on which bracker you fall into. So as Stan rightly says, if the purchase price is borderline on these brackets, put is an offer lower than the relevant threshold as it may say you a nice chunk in stamp duty
HTHI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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