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Stamp duty was one of our incentives from the developer...
Comments
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Are you sure you're looking at the contract? Does it say how much the allowance is?Ellebellejolie wrote: »I am due to complete soon and stamp duty was given as an incentive in the contract it states:
LESS
Allowance towards SDLT
Where would i stand with this?0 -
Does anybody know if mortgage offers have to be amended due to the stamp duty no longer being paid by the developer ? 3 weeks off completion and worrying now we'll have to go back to NatWest to get it amended !
Thanks0 -
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Ellebellejolie wrote: »Yes ive just double checked it is definitely the contract under the financial summary section it says £3,000 next to it?
Ok, you're still getting £3k off then. If in doubt speak to your solicitor.0 -
After a call to the solicitor yesterday we have been told that people are getting it retained, however after another call today the solicitor has said in the contract they hold if stamp duty is reduced they do not legally have to offer another incentive to replace but they are dealing with it on a case by case basis.
The solicitor will be talking to the developer and getting back to us today hopefully.
Ideally we would like cash as our house is now complete and all they could offer as an incentive would be white goods which would be a lot less than the stamp duty.0 -
Since you exchanged, you cannot back out (well you can but face costs), so i would be surprised if they offer anything.0
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Have you checked your lender's policy on a cashback instead of SDLT as I suggested earlier?giggl3fac3 wrote: »After a call to the solicitor yesterday we have been told that people are getting it retained, however after another call today the solicitor has said in the contract they hold if stamp duty is reduced they do not legally have to offer another incentive to replace but they are dealing with it on a case by case basis.
The solicitor will be talking to the developer and getting back to us today hopefully.
Ideally we would like cash as our house is now complete and all they could offer as an incentive would be white goods which would be a lot less than the stamp duty.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 -
Mutton_Geoff wrote: »I wouldn't worry, your house has probably just risen in value by the amount of SDLT saved!
http://www.thedailymash.co.uk/news/business/house-prices-increase-by-precisely-the-amount-of-stamp-duty-cut-20171123139622
You are aware that is the Daily Mash, right? Bit disingenuous to include that link without comment if you are.0 -
kingstreet wrote: »Have you checked your lender's policy on a cashback instead of SDLT as I suggested earlier?
Sorry I didn't reply. I have looked through my documents but I can't find it, can you point me in the right direction? My lender is Nationwide.0 -
Builder cash incentives are acceptable upto 5% including deposit/cashback on a standard purchase, but deposit/cashbacks aren't acceptable on shared equity, such as HTB Equity Loan.giggl3fac3 wrote: »Sorry I didn't reply. I have looked through my documents but I can't find it, can you point me in the right direction? My lender is Nationwide.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
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