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

mikeybmikey

I couldnt get a mortgage on my own, and asked my dad and by boyfriends mum to come on the mortgage with me. We explained this all to the lender (nationwide) and they said this is fine. The mortgage was agreed and myself, dad, and boyfriends mum are all on the mortgage.
How will this stand when it comes to stamp duty? I know the other two parties have property, but I am a new buyer. Would it be possible to either -
Submit the HM Rev payment in my name (1st time buyer)
Or
Get relief as there is a 1st time buyer on the mortgage (1/3) of the total payable.

Thanks guys, look forward to hearing you views.

Please be aware, its not my aim or goal to evade tax, simply avoid it! :-)

markshark_2

Does anyone know what happens if you aren't a first time buyer pls? :question:

Cannon_Fodder

The details, definitions of FTB, etc are not yet clear. When he sits down the Treasury and HMRC websites will have more details, hopefully.

nomnomnom

morg_monster wrote: »

Really feel this is deeply, deeply unfair to the FTBs who have bought in the 125-175 bracket since the start of the year.

It is actually. Yes, I am so thankful we didn't buy before now. However, it's normally me that has bad luck so I am suprised to be benefiting for a change

m3ech - It's takes effect at midnight tonight doesn't it? So I can't see why you should pay it even though you've already exchanged.

shane42

ftb= person or person who are not or have not been on the land registry

m3ech

nomnomnom wrote: »

m3ech - It's takes effect at midnight tonight doesn't it? So I can't see why you should pay it even though you've already exchanged.

Oooh I really hope you're right nomnomnom... Can't get through to the solicitor yet, I'm desperate to know!! Let hope we're right!

nomnomnom

m3ech wrote: »

Oooh I really hope you're right nomnomnom... Can't get through to the solicitor yet, I'm desperate to know!! Let hope we're right!

Yeah I've emailed mine but he's out of the office today.

Harbour_Lad

It's due on completion so I think you are quids in on this one!

mikeybmikey

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.

Silly man, and i guess you must use £50 notes for toilet paper... 1% is 1%, and in any case (regardless of how much someone has in the bank) alot of money... this saddens me greatly.... Maybe the country is in such a mess, due to people with the above attitude.. ''its only a £-grand'', stick it on the plastic, and then BANG! Credit crunch! We should all watch the pennies. And if you could offer any advise to people on haggle 1% off a sale price, which is already agreed, i for one would love to hear that!

mrsmay

I am waiting for my adviser to call me back, I am a first time buyer and hope I do not have to pay the stamp duty, but I am not sure,the sale has been agreed however we have 4 weeks or more to go untill we have to exchange contracts and we are yet to be told the completion date so hopefully as this will take effect at midnight I could save £1350 which would be fantastic..