Stamp duty threshold

chickaroonee

We've had an offer at 125k and are considering it (house hasn't been on the market long and we have lots of viewings booked). I just wondered how much of a barrier the 125k is likely to be - I know the 250k one is huge.

Yorkie1

What is your house being offered for sale at?

See also this thread which is on the question you asl:
https://forums.moneysavingexpert.com/discussion/4537765

chickaroonee

135k. My thoughts are above 125 might be hard to achieve, agent thinks possible as we've had so much interest.

00ec25

anything over 125K is going to cost your buyer at least an extra £1,250 in SDLT, if you were the buyer would you offer say 128K knowing that its actually going to cost you closer to £130k.

I appreciate 135 down to 125 is asking you as vendor to agree to a 7% discount, but given that, realistically, "every" vendor should expect offers of at least 5% below asking, I'd say that 135K asking is a very realistic proposition to get a 125K actual offer and final sale price

chickaroonee

00ec25 wrote: »

anything over 125K is going to cost your buyer at least an extra £1,250 in SDLT, if you were the buyer would you offer say 128K knowing that its actually going to cost you closer to £130k.

I appreciate 135 down to 125 is asking you as vendor to agree to a 7% discount, but given that, realistically, "every" vendor should expect offers of at least 5% below asking, I'd say that 135K asking is a very realistic proposition to get a 125K actual offer and final sale price

I agree. I'm pleased with the offer, as I said it's the agent who thinks more might be possible, but I wouldn't pay more personally. It just makes you wonder as it's the first person to view made the offer after one viewing and we have loads more booked. Not to say they'll offer any more of course!

Dan-Dan

Make sure they are very proceedable !

kingstreet

Halifax is currently offering FTB products which pay stamp duty for those buying between £125k+£1 to £250k.

These are reasonable products. If you want to get a property for slightly more, using Halifax could give you a free route to do it.

chickaroonee

Dan-Dan wrote: »

Make sure they are very proceedable !

Yes that was my main worry - so much interest and I'd be very annoyed if take it off the market for someone who hasn't really got the funds in place. Agent is investigating.

chickaroonee

kingstreet wrote: »

Halifax is currently offering FTB products which pay stamp duty for those buying between £125k+£1 to £250k.

These are reasonable products. If you want to get a property for slightly more, using Halifax could give you a free route to do it.

Thanks that's really interesting.

I suppose my other worry is that a mortgage valuation may be lower than what we accept, as I know lenders are more cautious these days. I suppose we shall just have to wait and see, clearly a lot can go wrong even after an offer is accepted!!

k0sh

Show it to the others. 1% stamp duty should not be a stumbling block.
Listen to your EA, they should be the experts.