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Debate House Prices


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No stamp duty <£250k

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Comments

  • clearing_out_my_pockets
    clearing_out_my_pockets Posts: 2,868 Forumite
    I feel I am very lucky then - OH & I bought our first home and really had to push for a pre-christmas completion before the stamp duty threshold jumped back down. How sick would I have felt to know that we'd fallen into a three month black hole???
    Don't worry about typing out my username - Call me COMP
    (Unless you know my real name - in which case, feel free to use that just to confuse people!)
  • bo_drinker
    bo_drinker Posts: 3,924 Forumite
    sarah_elton wrote: »
    It's confirmed.

    No stamp duty up to £250k for FTBs, for this year. No mention of the definition of FTB -

    Surely there is one definition really ???
    I came in to this world with nothing and I've still got most of it left. :rolleyes:
  • sarah_elton
    sarah_elton Posts: 2,017 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    bo_drinker wrote: »
    Surely there is one definition really ???

    Well I was hopeful due to the bank's definition and the mention of the land reg definition earlier.

    Agree with the previous post - I really feel for any FTBs who completed between Jan 1st and now. :( Can't do a lot for market confidence to keep messing about with the tax rates like this.
  • BigJonnyB
    BigJonnyB Posts: 448 Forumite
    Part of the Furniture Combo Breaker
    bo_drinker wrote: »
    Surely there is one definition really ???

    it isn't that straightforward in a minority of cases though. As others have pointed out, the land registry defines someone as a FTB if they haven't owned for 6 months. Many mortgage companies are the same.

    What about couples where one once owned, but the other hasn't?
  • wolvoman
    wolvoman Posts: 1,191 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    So this suits FTB'ers in the north then. How typical of Labour.

    The average FTB purchase in LOndon is over the £250k threshold, so why should they be dicriminated against by these cretins in power?
  • tomterm8
    tomterm8 Posts: 5,892 Forumite
    Part of the Furniture Combo Breaker
    I think its a finesse. They've changed it for a couple of years, while the top rate stamp duty has been changed permanantly. It's like the fuel price increase when VAT was reduced. The top rate stamp duty is here forever, the carrot will be removed in a few years time after the election.
    “The ideas of debtor and creditor as to what constitutes a good time never coincide.”
    ― P.G. Wodehouse, Love Among the Chickens
  • c0lc0l
    c0lc0l Posts: 27 Forumite
    Does anyone know when this will take effect? Is it effective immediately or will it take a few months of red tape?
  • sarah_elton
    sarah_elton Posts: 2,017 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    c0lc0l wrote: »
    Does anyone know when this will take effect? Is it effective immediately or will it take a few months of red tape?

    Midnight tonight apparently
  • Batchy
    Batchy Posts: 1,632 Forumite
    BigJonnyB wrote: »
    it isn't that straightforward in a minority of cases though. As others have pointed out, the land registry defines someone as a FTB if they haven't owned for 6 months. Many mortgage companies are the same.

    What about couples where one once owned, but the other hasn't?

    id like to know about this too... :-)

    technically im a FTB, but gf isn't but...lol
    Plan
    1) Get most competitive Lifetime Mortgage (Done)
    2) Make healthy savings, spend wisely (Doing)
    3) Ensure healthy pension fund - (Doing)
    4) Ensure house is nice, suitable, safe, and located - (Done)
    5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
  • bo_drinker
    bo_drinker Posts: 3,924 Forumite
    So who will define the F T B if there are ???? over it. We are about to buy, been in temporary for 17 months ???
    I came in to this world with nothing and I've still got most of it left. :rolleyes:
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