Government to temporarly scrap stamp duty up to £250k?

ParanoidAndroid_4

mbga9pgf wrote: »

Why does a paltry 1% matter so much to people. You could haggle 1% off the seller no problem, yet people are willing to put their purchase on hold for a stamp duty break? This country is full of idiots.

1% of a house purchase value in cash is far from a "paltry" amount. Especially when in our case negotiations completed before Christmas (pushed by us in order to avoid Stamp Duty) and it's other factors that have led to the delay in completion (and the vendor is not open to any further negotiation). Granted, it's a small enough amount to prevent us walking away from the deal, but at the same time it will cover the cost a lot of necessary improvements to the property, which could be well in excess of the outlay when we come to sell.

You try to sound like the authority on the matter, and yet tarnish everybody with the same brush. And for the record - a house sub £250k is not a shoe box unless you happen to live in the South East.

sarah_elton

ParanoidAndroid wrote: »

1% of a house purchase value in cash is far from a "paltry" amount. Especially when in our case negotiations completed before Christmas (pushed by us in order to avoid Stamp Duty) and it's other factors that have led to the delay in completion (and the vendor is not open to any further negotiation). Granted, it's a small enough amount to prevent us walking away from the deal, but at the same time it will cover the cost a lot of necessary improvements to the property, which could be well in excess of the outlay when we come to sell.

You try to sound like the authority on the matter, and yet tarnish everybody with the same brush. And for the record - a house sub £250k is not a shoe box unless you happen to live in the South East.

Yep - currently buying a house and getting married in June so a surprise £2,300 would be lovely (though as above, we may not count as FTBs - hey, I lost money on the last place I owned so I'm *worse* off than FTBs!). And we're in the south east and our £231k is buying us a four bed detached which in no way resembles a shoe box.

Sweeping generalisations from some on this thread.

ParanoidAndroid_4

sarah_elton wrote: »

And we're in the south east and our £231k is buying us a four bed detached which in no way resembles a shoe box.

Sweeping generalisations from some on this thread.

Guilty as charged, I was just trying to make a point really...

sarah_elton

ParanoidAndroid wrote: »

Guilty as charged, I was just trying to make a point really...

Nooo not you! Certain polite and charming posters earlier in the thread.

nomnomnom

This will mean we don't have to spend £1400 if it comes to effect. Unless it doesn't happen for the next 6 weeks, in which we could have to delay our purchase that we are in the middle of right now.

lottie176

I don't understand mbga9pgf's rather abrupt reply on this thread and frankly I find it a bit rude. Lucky you if saving £1500 or whatever off the price you were expecting to pay doesn't matter to you but some people may have put their all in to saving and even with beating down the price of a property are stretched to their limits. This could be a real help for people starting out on the property ladder. Although it won't solve the many problems this country may have it is a slight relief for many if it is reintroduced. I for one will benefit by this and although I do not desperatly need the money as I have already budgeted for stamp duty, I would be mad to scoff at the thought of scrapping these fees for me!

morg_monster

well, it's just been confirmed.
"First-time home buyers will pay no stamp duty on properties worth up to £250,000. That will apply this year and next. "
Also
"hike in stamp duty to 5% for properties worth more than a million pounds"
Really feel this is deeply, deeply unfair to the FTBs who have bought in the 125-175 bracket since the start of the year.

shane42

stupid decision
we are broke stamp duty is needed
all this will do is keep prices up when they need to drop so normal folk can buy a house.

m3ech

Hi guys! So it's official, the stamp duty upto 250k has been withdrawn! Hoorah!! We are currently buying our first property and were due to pay out £2400 in stamp... Does anyone know whether we will still be entitled to pay no stamp duty even though we have already exchanged? Our completion is set for next week...

Thanks for anyones help in advance!:D

blizeH

I'm so happy right now! It's like winning the lottery but worse.

A lot, lot worse.

But still, woo!

Might contact my solicitor to confirm it applies to me, can't see why it wouldn't though - hopefully the house isn't too far in to being purchased.