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



  • Geedoubleu_2
    Geedoubleu_2 Forumite Posts: 21 Forumite
    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
    hockeyguy Forumite Posts: 163 Forumite
    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!
    2010 Win(s) - Soft toy Koala, £25
  • MSE_Martin
    MSE_Martin MoneySaving Expert Posts: 8,273
    Part of the Furniture 1,000 Posts Combo Breaker
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    PS many of this issues are now cleared up here http://www.moneysavingexpert.com/mortgages/stamp-duty
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
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  • pepsienya
    pepsienya Forumite Posts: 1 Newbie
    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!
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