Autumn Budget Stamp Duty

LazyWhippet

mrginge wrote: »

So you have the income to support a house purchase of around £450k?

What level of salaries are we talking about here?

We are buying a house for £465k.

LazyWhippet

SuboJvR wrote: »

Having just completed I'd be a little frustrated about this but, if we hadn't bought the house we wanted now, similar ones are now advertised for £25k more so I think I'll take the Stamp Duty!

We have factored in the stamp duty - I don't mind paying it, of course - but it could be a nice saving!

xsor

Yeah, in the middle of purchasing too.

But deveoper's solicitors taking the ****! It's been a month or so and we're still waiting for lease info.

Then again, this is all good news to my ears, I'll probably have them do the snagging too before I exchange, as we are probably paying quite a bit of a premium for this.

Superclarkkent

What is the definition of 'first time buyer' out of interest?


I'm in a similar position but sold a property in June this year, so I'm not a first time buyer but I'm also not currently on the property ladder.

LazyWhippet

Superclarkkent wrote: »

What is the definition of 'first time buyer' out of interest?


I'm in a similar position but sold a property in June this year, so I'm not a first time buyer but I'm also not currently on the property ladder.

I think it's someone who has never held title over any lands/buildings or whatever - so you definitely wouldn't be a FTB.

xsor

Nah, you would not count as one sorry.

As they tend to ask you "have you ever owned a property" etc.

davidmcn

The last time there was a FTB concession for stamp duty it meant "someone who had never owned property anywhere in the world" - but it could be different next time (and the same goes for when/how any new rates or concessions are introduced).

NaughtiusMaximus

xsor wrote: »

Nah, you would not count as one sorry.

As they tend to ask you "have you ever owned a property" etc.

How would it work in the case of a joint mortgage where one party is home owner but the other isn't?

Like the previous poster my GF sold her house in the summer, we're currently renting a property from close family and plan to buy within the next few months. The mortgage for the new property will be joint but I have never been a home owner.

Superclarkkent

Thanks - that puts my mind at rest that it's not worth delaying by a few days on the flat I've been waiting to purchase since February!!!!

K4yl5

FTB here - paid my stamp duty this morning...:undecided

Property was out of budget and only had my (rather low) offer accepted because the vendor wanted a quick sale. I would have liked to wait till the end of the month to complete, however it wasn't worth the risk of loosing the flat.

I read the proposed “stamp duty holiday” whereby the majority of first-time buyers don’t pay a penny for one or two years as a delay in the stamp duty payment, rather than there being no charge at all?