No stamp duty <£250k

Really2

Harvie wrote: »

We completed on Friday just gone...should we have known this was going to happen? Have I just made a hugely horrid mistake

I presume you would have done it had they not introduced this so yes you may be slightly worse off, but how could you have known.
You never know house prices might be up 1% this month, overall this cost is minimal in %age terms.
You could lose 10X+ more not having a proper survey so don't dwell on it.

MissMoneypenny

Blacklight wrote: »

Just saw this on twitter, you have to hand it to them very quick off the mark:

Not good for those selling 300k and below as that will drop their price to £250.

Really2

MissMoneypenny wrote: »

Not good for those selling 300k and below as that will drop their price to £250.

Why would that be as there is no change (it is still 3%)?

Also would you not offer to pay the stamp duty of £9K (£300K) for the buyer instead of knocking £50K off?

If it really is that important for the buyer to pay no tax I am sure the seller would rather pay the stamp duty.:)

Harvie_2

I have never really paid much attention to politics etc...but have just got a huge sharp shock...talk about nasty pre-election tactics to gain votes. When all they have done is p! a whole load of us off!

Blacklight

MissMoneypenny wrote: »

Not good for those selling 300k and below as that will drop their price to £250.

A £50k reduction to save someone £2.5k? Might drop to £297,500 perhaps.

dopester

Harvie wrote: »

I have never really paid much attention to politics etc...but have just got a huge sharp shock...talk about nasty pre-election tactics to gain votes. When all they have done is p! a whole load of us off!

It's nothing compared to the crash in values which still has to play out.

You could have known... with interest base rates at historic lows and very unhealthy transaction levels is a clear diagnosis for a very fubar market.

You have to expect a lot of political interference to try and keep market prices sustained, including stamp duty measures, but they ultimately will be overwhelmed by market forces - houses are massively overvalued.

Harvie_2

I am assuming retrospective claim will be out of the question? Thanks in advance

ruggedtoast

Emy1501 wrote: »

Does not seem like as you cant of owned anywhere in the world before! Going to affect couples where one has owned but other has not. Not sure if this fair. Will also effect those where famil lend money extra and put their name on deeds to protect interest etc. Maybe a small amount but I know those who have done it.

It says you cant have purchased anywhere before. Not quite the same thing.

tara747

It's for the next two years not one peeps!!!!!!!!!

The increased threshold applies where the effective date of the transaction is on or after 25th March 2010 but before 25th March 2012.

tomterm8

Really2 wrote: »

Cheers CF.
That clears it up then.

So, you are excluded from the scheme if you've inherited a house with your brothers and sisters? Shifty.