MSE News: Budget 2017: Chancellor to unveil Government spending plans

Former_MSE_Callum

The Chancellor Philip Hammond will unveil a wave of measures in today's Budget...

Read the stories:
'Budget 2017: Chancellor to unveil Government spending plans'


Autumn Budget 2017: Universal credit wait times to be reduced

Autumn Budget 2017: Personal tax allowance to be raised to £11,850

Autumn Budget 2017: Stamp duty axed for most first-time buyers

Autumn Budget 2017: National living wage to rise next April


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Former_MSE_Andrea

We're updating our news story. Click the link to read the updates.

Former_MSE_Andrea

Autumn Budget 2017: Universal credit wait times to be reduced

Former_MSE_Andrea

Autumn Budget 2017: Personal tax allowance to be raised to £11,850

Former_MSE_Andrea

Autumn Budget 2017: Stamp duty axed for most first-time buyers

Former_MSE_Andrea

Autumn Budget 2017: National living wage to rise next April

emelho

Hi,

We are first-time buyers and have already exchanged but not completed. Will the stamp duty cut apply to us, seeing as we haven't completed? Or will they take our exchange date into account?

Thanks

short_cake

Stamp duty only becomes effective from completion date - so if u have not completed yet , then you will qualify for today announcement

AirlieBird

emelho wrote: »

Hi,

We are first-time buyers and have already exchanged but not completed. Will the stamp duty cut apply to us, seeing as we haven't completed? Or will they take our exchange date into account?

Thanks

From https://www.gov.uk/government/publications/stamp-duty-land-tax-relief-for-first-time-buyers/stamp-duty-land-tax-relief-for-first-time-buyers

This measure will have effect for transactions with an effective date (usually the date of completion) on or after 22 November 2017.

TT2018

Hi

I am currently in the process of buying a property jointly with my wife - She is a first time buyer and has never owned a property. However I have previously owned a buy to let jointly with my parents around 3 year ago (now sold).

Given this is the firs time i am buying a house to live in does this new stamp duty relief apply ?

i can only find the statement "A first time buyer is defined as an individual or individuals who have never owned an interest in a residential property in the United Kingdom or anywhere else in the world and who intends to occupy the property as their main residence"

mailmannz

TT2018 wrote: »

Hi

I am currently in the process of buying a property jointly with my wife - She is a first time buyer and has never owned a property. However I have previously owned a buy to let jointly with my parents around 3 year ago (now sold).

Given this is the firs time i am buying a house to live in does this new stamp duty relief apply ?

i can only find the statement "A first time buyer is defined as an individual or individuals who have never owned an interest in a residential property in the United Kingdom or anywhere else in the world and who intends to occupy the property as their main residence"

Sadly it looks like you won't benefit from this change! BOTH have to be first time buyers!

Although, as Im in the same boat as you, I have asked this question of my solicitor.

If the change doesn't apply to us I have asked what needs to be done to put the house only in my wifes name and then we can change this later.

Regards

Mailman