No stamp duty <£250k

lostinrates

tara747 wrote: »

Y'know, it's actually a shame that this only applies to *true* FTBs. If it applied to anyone who had sold their main residence more than 6 months previously, there would be a MASSIVE rush to STR for 6 months and prices would collapse!!! :rotfl: :rotfl:

Well, it seems to me odd, that it doesn't have a time limit after all, off the property ladder (I really despise that term) for, say ten or twenty years, any str pot wouldn't go far would they? no further than the potential savings of ftb of the same vintage?

silvercar

There going to have to come up with some better guidelines.

Does a timeshare in Tenerife sold twenty years ago count?

Could one partner buy initially as FTB and then put the property in joint names after a month?

Could you buy a property in the name of an (adult) child and then transfer the deeds a month later?

CloudCuckooLand

http://www.hmrc.gov.uk/sdlt/transaction/transfer-ownership.htm

Property given as a gift

If the property is received as a gift there's no SDLT to pay, so long as there's no outstanding mortgage on it. But if the person who receives the gift takes over some or all of an existing mortgage, then SDLT may be payable if the value of the mortgage is over the SDLT threshold.

MissMoneypenny

Really2 wrote: »

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.:)

It hasn't worked like you suggest before.

I'm selling a house in that price bracket. I'll let you know how it goes.

ukcarper

MissMoneypenny wrote: »

It hasn't worked like you suggest before.

I'm selling a house in that price bracket. I'll let you know how it goes.

I can't see why you think it will knock over 15% of the value of a house over £250k if anything it will be 3%.

tara747

silvercar wrote: »

There going to have to come up with some better guidelines.

Does a timeshare in Tenerife sold twenty years ago count? - probably

Could one partner buy initially as FTB and then put the property in joint names after a month? - if they are offered enough of a mortgage on one salary yes, not sure about the legalities of putting it in joint names so soon

Could you buy a property in the name of an (adult) child and then transfer the deeds a month later? - I would imagine that if you buy it in your child's name then you/they would have to pay SD, and if a mortgage is involved then SD would be incurred

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