Stamp duty in deprived areas

Lally

I thought I would post this in case anybody else didnt know about it. But then, you all probably do, Ima lways the last to know <sob>

http://www.inlandrevenue.gov.uk/so/pcode_search.htm

In certain 'deprived' areas the threshold is £150,000. My area is covered, its not the best but I certainly wouldnt call it deprived. And whats better is that the flat Ive seen for offers over £110,000 is now within my grasp!

nearlyrich

I heard something about this recently as a friend of ours bought an ex local authority house in a development zone or what ever they are calling them this month. Good luck to you hope you are successful in getting your flat and that you are very happy there.

SnowyOwl_2

I bought in a "deprived area" last year. I didn't know it was a deprived area, you certainly cannot tell by looking! My solicitor pointed it out to me and I unintentionally saved myself quite a few pennies by choosing this house over many others which I viewed.

I think it'd be a good bet to buy in a deprived area (speaking from experience anyway). The area is getting attention and hopefully financial aid to help it develop and lose the label "deprived area". Maybe you could look into it to see what is going on eg new/refurbished sport/community facilities, improvements to public transport, employment creation and so on. These sorts of schemes all add to the future desirability of the area and so you'd have a lesser struggle when the time comes to move on.

akh43

I bought my property in 2002 and knew nothing about this, nor did my solicitor!

I had lived there over a year when I saw an article on this in the Daily Mail, I checked my postcode and found I was eligible. I was able to get back the £850 I had paid stamp duty and managed to get a few quid for the interest as well. Also, living in a 'deprived' area I also got a grant a lot quicker than usual.