Tackling stamp duty thresholds

loanranger_4

what is the best strategy to purchase houses on the wrong side of the stamp duty threshold?

1. offer the stamp duty threshold - may lose the house to some who pays a 'that little bit more' so keep fingers crossed !
2. offer the stamp duty threshold and offer separate payment for fixtures and fittings - will this mean more legal work and is subject to inland revenue scrutiny for up to 9 months?
3. offer to split the extra stamp duty with the vendor - has anyone got this to work?

Any other ideas?

Many Thanks

theGrinch

you have it about right and the order correct.

try £249,995 first....then something for FF. you can also offer to pay legal fees and the agent fees if required.

though most sellers and their agents should be aware of the natural £250k barrier!

BrixMorta

The revenue have really clamped down on this so if you do offer an amount for fix and fitt' the chances are you will need to support this with a professional chattels valuation of the items in question. Also the 3% actually kicks in at £250,001 so your ok at £250,000.

The market between £250 and 275k has been a real problem since the hike in stamp duty rates. The best way really is for the seller to make a contribution of some sort.

Holiday

If buying a property with land is it legal to buy the land separately to avoid the higher rate or are the Inland Revenue against this approach?

Say £275K for property and 6 acres. Property £250K Land £25K ?

loanranger_4

Thanks for the advice.

Paying estate agents fees/legal fees is a good one. It would be very interesting if this happened as their agents would effectively be working for you !

A chattels valuation is also a great idea, I wonder what they charge for houses?

As for separating land and property, I assume that the land register would have to be modified and the land/house split into separate plots and given separate titles. You would then have to buy each individually. (btw I am not an expert).