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Budget 2010: Stamp duty threshold raised to £250,000 for first time buyers

Former_MSE_Rose
Posts: 128 Forumite
Comments
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They need to define FTB clearly.
Whether 1 of a couple being FTB, the other not, etc will qualify.
And the dates spelt out.0 -
I'm very confused by this. How on earth are they going to police it? And as cannon fodder points out, what is the definition of a FTB?Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.0
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Brilliant news, I am so glad! More money left for decorating0
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Hi to all,
My wife and I are FTB and we've had a £155k offer accepted on a house, solicitors checks are in place and mortgage offered. We haven't got a completion date yet, and haven't signed any contracts (other than to tell the solicitor to proceed with said checks).
Does this mean that we are exempt from Stamp Duty?
Lewis0 -
My understanding at this stage is that it is solely on sale value (the reference to 'ftb' is political dressing).
Since it applies from midnight it would be impossible to set up any policing structure to select FTBs.
The impact of the increase above £1,000,000 also has a number of interesting implications.
Bit of a buggah if you have a £1,000,050 completion scheduled for Friday !!!Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Wait for your solicitor to get all the criteria. Until he sits down, much information is withheld...0
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We are due to move next week, contracts concluded, with sellers paying the stamp duty as the terms. Technically, we are paying them the house price minus the stamp duty which we then pay. Will be interesting how this will pan out, as the price we offered was higher only due to the stamp duty term agreed.0
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My sister and her husband bought their house only a month ago (first time buyers) and had to pay stamp duty, is there any way they could claim back. It seems really unfair that they have just lost out.0
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I'd like them to define a a FTB.
Im sure many are wondering whether it is worth selling then moving in with family/renting, then buying a place, purely to avoid stamp duty.Squish0 -
What will this mean for me - my wife is a first time buyer, and we are meant to exchange contracts today and complete in 2 weeks time. Is midnight tonight relevant for exchanging contacts or completeing. I need to know as this could save me a couple of grand.
Cheers
Fraser0
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