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Stamp duty cut from today
Comments
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We are completing on 30/11/17. One of our incentives from the developer was for them to pay our stamp duty. Where do we stand with this? Are we entitled to the stamp duty they would have had to pay to the government?0
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Answered the other question elsewhere...!giggl3fac3 wrote: »We are completing on 30/11/17. One of our incentives from the developer was for them to pay our stamp duty. Where do we stand with this? Are we entitled to the stamp duty they would have had to pay to the government?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 -
Advice please...
Our situation:
We are married but I owned our current house prior to marriage (my name on deeds as haven't bothered changing to both since marrying).
We are purchasing our next property in my husbands name.
We have sold our current house but are staying put for a couple of months whilst we carry out major works on new property.
Prior to todays change, we knew we had to pay stamp duty plus the 3% (refundable) surcharge as even though houses in separate names we are still classed as one unit and therefore it would be seen as a second home purchase.
Following todays stamp duty change, in this scenario, is my husband classed as a first time buyer and will he be exempt from paying the initial stamp duty?
All a bit confusing!
Advice much appreciated...0 -
The cut in stamp duty for first time buyers was a start, but the amount saved is chicken feed. It's a shame the government didn't go one step further and force councils failing to meet housing targets to release land for self build - priority being given to first time buyers.0
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Hi guys. I complete on a property next Thurs. The price is £317500 and it's in Hertfordshire. I'm a first time buyer but my partner has owned a property previously but doesn't anymore. Do we still have to pay the full Stamp duty or can we get a the discount? Many thanks0
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we knew we had to pay stamp duty plus the 3% (refundable) surcharge as even though houses in separate names we are still classed as one unit and therefore it would be seen as a second home purchase.
Are you sure about that? How are you "one unit" if your husband is buying it in his name and you are not on the deeds or mortgage? (or has the lender insisted that you are on the deeds/mortgage?)Every generation blames the one before...
Mike + The Mechanics - The Living Years0 -
Neilbanyard wrote: »my partner has owned a property previously but doesn't anymore. Do we still have to pay the full Stamp duty or can we get a the discount?
Assuming you are buying together, sadly you will not be entitled to any FTB "discount" as your partner has owned property before and so is not a FTB.Every generation blames the one before...
Mike + The Mechanics - The Living Years0 -
are you married or civil relationship?Neilbanyard wrote: »Hi guys. I complete on a property next Thurs. The price is £317500 and it's in Hertfordshire. I'm a first time buyer but my partner has owned a property previously but doesn't anymore. Do we still have to pay the full Stamp duty or can we get a the discount? Many thanks0 -
We have not signed contracts yet but have instructed our solicitor to sort the stamp duty out for us .They have funds on account will we be safe from paying . Its £600. If so this will be the first time I'm actually glad the solicitors have been dragging their heels ��0
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Does this still apply if me and my girlfriend apply for a joint mortgage and she is a first time buyer but I'm not?0
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