Massive stamp duty changes!! In place midnight tonight

wrkactjob

pinkteapot wrote: »

I'm expecting everything listed around the £250k and £500k marks to suddenly increase in price.

The irony is that people will end up paying more for their house.

Some buyers think they are onto a good thing but:

The house that was being marketed for £249,999 will now be selling for £260-265K. Buyers will pay less in SD but over the course of the mortgage that extra £10-15K will mount up.

So less initial expenditure in terms of SD but more long term expenditure in terms of total cost.

But this will only apply to those houses initially priced around that threshold level.

TheCyclingProgrammer

wrkactjob wrote: »

The irony is that people will end up paying more for their house.

Some buyers think they are onto a good thing but:

The house that was being marketed for £249,999 will now be selling for £260-265K. Buyers will pay less in SD but over the course of the mortgage that extra £10-15K will mount up.

So less initial expenditure in terms of SD but more long term expenditure in terms of total cost.

But this will only apply to those houses initially priced around that threshold level.

It's hard to say for sure if this will cost more long term - depends how much prices rise by. If prices rise in line with the stamp duty savings, then buyers who now face a lower stamp duty bill should be able to use the cash they saved towards a bigger deposit, so not necessarily a bigger mortgage and more interest.

harrys_dad

wrkactjob wrote: »

Thanks Conservatives you have just bought my vote for next May, its the least I can do.

How sad is that. It is precisely because we have so many people who can only see their own short term interests that we have a government and a country with no medium to long term strategic vision at all, to the detriment of almost everyone.

powerpk

Hi all,

A quick info please. We have exchanged, to be completed in 12 Dec. Is the new rule apply to us? It would be great if it does!

wrkactjob

powerpk wrote: »

Hi all,

A quick info please. We have exchanged, to be completed in 12 Dec. Is the new rule apply to us? It would be great if it does!

Yes it does! break out the champagne and vote Conservative as a thankyou!

wrkactjob

harrys_dad wrote: »

How sad is that. It is precisely because we have so many people who can only see their own short term interests that we have a government and a country with no medium to long term strategic vision at all, to the detriment of almost everyone.

I would have voted for the Conservatives anyway...not too sure on the "medium to long term stategic vision" of UKIP/Lib Dems or even the Labour party! :rotfl:

nothomealone

We were due to complete this afternoon got builder to delay til tomorrow after seeing sky news. so in affect ive saved £900 by delaying until tomorrow is this correct?

TheCyclingProgrammer

nothomealone wrote: »

We were due to complete this afternoon got builder to delay til tomorrow after seeing sky news. so in affect ive saved £900 by delaying until tomorrow is this correct?

Yes. Well done.

KiKi

I exchanged nearly two weeks ago, completing on Monday, and now have a £3k rebate coming - very pleased!

Unfortunately the flat I was selling was £250k, on the 3% threshold. It was worth around £265k, but of course no-one would contemplate that, so although I get a rebate, had I waited I'd have been even better off.

However, although my vendor took the house I'm buying off the market and waited NINE WEEKS for me to sell (bless him!!), I'm sure he wouldn't have waited until December!!! I would have lost my dream house. So ultimately I'm very pleased.

KiKi

nubbins

Yeahhhhh £1500 saved:beer::T