FTB Solictor fees / Stamp duty

frembrit

Hi all,

I'm a first time buyer on a new build on the Homebuy Direct scheme.

My first letter from the solicitors indicates that there will be a Stamp Duty Return Fee of £58.75. Is this right? Do I pay the stamp duty and then claim it back?

Thanks.

WestonDave

The fee is for their work in completing the forms - the question is whether on the property you are buying there is a need to do the paperwork at all - if not then you shouldn't be charged. Worth asking about this to clarify as it may just have been included automatically.

Evilm

They are charging you that fee for filling in and submitting the forms. You cannot claim this back.

frembrit

So I do pay stamp duty and then the solictors claim it back for me.

A lady at work is also a FTB, and she said that she hasn't been charged for this. I'm confused.

frembrit

Ah, just spoken to her and her house is less than £125K whereas mine is £153K. So as mine would normally incurr 1% stamp duty I'm guessing that's why I pay it and then claim back...???

giddypenguin

If the house is under 250k and you are a FTB, then you do not pay stamp duty at all. However, the paper work (which some people charge £50ish to fill out for you) still has to be returned. You are not paying stamp duty - you are just paying someone to fill out the stamp duty paper work for you.

frembrit

Right, got it. Thanks.

This buying a house game is quite stressful. :embarasse

giddypenguin

frembrit wrote: »

Right, got it. Thanks.

This buying a house game is quite stressful. :embarasse

Hee hee... Correct! Especially for FTB's... Most of the time we don't have a ding-dang-doo of what the hells going on! Get a good solicitor and say these words to them 'take me through in BABY STEPS' Ours is fantastic, I'm pretty sure he thinks we have IQ's below 50, but at least we know what's going on!

timmyt

if you pay more than £40k then you need to fill in an sdlt form, even if the box is ticked to say you are claiming exemption.

however, the worrying thing is that you have chosen a conveyancer (bet you don't have an actual solicitor acting for you either) who is charging you for what most decent conveyancers already for no extra charge as part of their job. Why isn't he charging you for printing letters out on a Friday, or taking more than 5 minutes to put an elastic band around your file...

Loser firm of conveyancers.

Richard_Webster

Why isn't he charging you for printing letters out on a Friday, or taking more than 5 minutes to put an elastic band around your file...

Sooner or later we will see in some turgid set of terms and conditions extra charges for these items which will be dressed up in legalese.

Perhaps we could have a competition for dreaming up the best way of disguising the reality in goobledegook!

chickpea87

When we were looking at instructing a solicitor it became even more apparent that not only do charges vary, but the items that you are charged for vary too! I wouldn't fancy tackling conveyancing myself, but I feel pretty well educated on what the process involves now :rotfl:

With our current Solicitor we queried this cost as we are FTBer's and had seen a number of Solicitors charge for filling out a Stamp Duty exemption form. They were quite shocked that we had asked about this cost as they said "well it is only a few pages of form, we don't charge for filling it out!". It really is down to the individual solicitor as to what they charge for... :eek:

I did find the various charges/quotes confusing, eye's ached from all the small print reading!!!