We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Stamp duty cut from today
Comments
-
A political sop. If it encourages FTB all it will do is raise house prices.0
-
See post #49 above.A political sop. If it encourages FTB all it will do is raise house prices.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Completion definitely took place today, 22 November 2017?armstrong1955 wrote: »Solicitor says we can't get a refund since we completed and paid it this morning
There are different rules if you’re buying your first home. You get a discount (relief) that means you pay less or no tax if both:
you complete your purchase on or after 22 November 2017
the purchase price is £500,000 or less
https://www.gov.uk/stamp-duty-land-taxI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
lwhiteman88 wrote: »Interestingly the OBR believe this won't help FTB but actually people selling their homes. Presumably because people will now raise their house price assuming FTB can now afford more
Don't let Crashy hear you say this!If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0 -
Does anyone know how much you pay after 300k?0
-
Just to clarify, the cut applies from today in England, Wales & Northern Ireland. But, in Wales, the Welsh Govt will have to decide whether it continues after April 2018 when Stamp Duty is devolved.whatdoyouthink... wrote: »Crossing my fingers this is correct..."the UK government said that a planned cut to stamp duty land tax for first time buyers will apply in Wales up until April 2018 when the tax is devolved."Not even wrong0 -
5%, so £10k on a £500k purchase, instead of £15k.Does anyone know how much you pay after 300k?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
"Rates if you’re buying your first home
You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000."0 -
armstrong1955 wrote: »Although we benefit personally I'm skeptical that this will actually help get people on the ladder. For us (and probably quite a few other FTB) it's a welcome addition to the furniture/ DIY budget but not the difference between buying and not.
Honestly I doubt there'll be any increase to the furniture/ DIY budget as you'll be paying more for the home in the first place.
Psychologically this will feel good. Realistically it won't make a bit of difference.0 -
It's such a miniscule amount when you are talking about such a huge amount needed to buy a home. Nothing to get excited about I'm afraid.
Fair enough in terms of overall financial commitment, but it makes a bigger difference with the actual up front cash requirement for FTBs for whom getting their deposit together is often the toughest financial part of the process.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.9K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.1K Spending & Discounts
- 245K Work, Benefits & Business
- 600.5K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards