'What is a first time buyer? Stamp duty reduction...' blog discussion

Geedoubleu_2

alsy01 wrote: »

In Australia where there has been a first home buyer grant the main result is that it has pushed up house prices by the amount of the grant.

I can see the same thing happening in the UK as a result of the stamp duty changes.

Agreed, in the same way that petrol has taken advantage of the extra money in our pockets since interest rates were dropped, by pushing up fuel prices to record highs.All what happens is solicitors, surveyors, mortgage brokers and estate agents all jump in to suck up the "free money".house prices have rose so high since the 1990's because interest rates used to be 12-14%. All that happened is house prices pushed up to the maximum monthly payments people could afford based on 4-6% so that there repayments were the same as mortgage rate of 12-14%.The governement should not attempt to make house owning more affordable as the blood suckers just soak up the difference.

hockeyguy

FYI- I contacted or solicitor and there is apparently no way to claim back Stamp Duty if you were a First Time Buyer and bought in Jan. or Feb. I thought it would be a long shot but was worth checking!

MSE_Martin

PS many of this issues are now cleared up here http://www.moneysavingexpert.com/mortgages/stamp-duty

pepsienya

We are both first time buyers that are due to to exchange on a new build in the next couple of weeks!

our "incentive" to purchase a new home was £15k (taken however we liked)

We opted for our SD to be paid, as this was an expense back in October (when plot was reserved) that we didn't want.

Now the SD holiday has come in to play neither us or our "special" builders have to pay this, however we are now told we are unable to use our £2k any other way. So we lose out..

It's nice to see that builders can profit from the SD holiday too..

Be warned Taylor Wimpey I am not going to drop this!