FTB Stamp Duty

darrensen

I understand that the stamp duty up to 250k for FTB expires in March 2012. Do you think in the current climate the government would extend this policy another year at least?

Or maybe until 2014?

I guess they need to do what they can to stimulate the market.

Your thoughts?

Thanks
Darren

GAH

Who knows? To be honest I don't think they will extend it, it has hardly stimulated the market as it is.

What they need to do with stamp duty is re-structure it all together.

Riq

Restructure it.

I'm a FTB, my girlfriend is not.

I think we should just pay half stamp duty

darrensen

I'm worried that we're not going to find somewhere nice before March 2012.

I also think that as we get closer to this date, property that was priced around 230-235 will go up to 250!

Procrastinator333

Personally prefer sone sort of land value tax, but if stamp must stay, it should surely be reformed to get rid of the stupid jumps.

Something like first £100k of a house is 0%. next £100k is 1%. next £100k is 2%. It could easily be set in a way that was revenue neutral. The only difference being the ridiculous jumps at the thresholds would go.

ess0two

darrensen wrote: »

I'm worried that we're not going to find somewhere nice before March 2012.

I also think that as we get closer to this date, property that was priced around 230-235 will go up to 250!

Doubtful.Makes no sense,buyer or seller,only the gov who benefits from stamp duty.

GAH

darrensen wrote: »

I'm worried that we're not going to find somewhere nice before March 2012.

I also think that as we get closer to this date, property that was priced around 230-235 will go up to 250!

If you start looking soon then you will avoid it, if you start looking February next year you won't.

Unless you are looking at buying in London, you will find prices are correcting and will continue to do so into next year and beyond

darrensen

Well the way i was trying to angle it was from the sellers point of view.

If it's getting close to March 2012. The seller might increase their price, to "A" make more on their property and "B" encourage the FTB to buy before the Stamp Duty window closes.

I haven't explained it very well, but can you see what i'm thinking?

Orpheo

They should get rid of it. It's time to kick the buckling props away. There is no real benefit to FTBs, all it means is that vendors can continue to price at £130k+ instead of coming down to less than £125K. Buy next year when vendors will be encouraged to price below the SD thresholds.

hcb42

Riq wrote: »

Restructure it.

I'm a FTB, my girlfriend is not.

I think we should just pay half stamp duty

LOL..what we think about tax and what happens in reality are two different things;)