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Stamp Duty - Towards New Build House
KEEP_GREEN
Posts: 3 Newbie
Hi Everybody,
I am in the midst of buying my new home, within weeks from now I will be legally exchanging contracts. I was offered an amount towards incentives and part of this amount was towards the stamp duty. Since the new budget ,the stamp duty has been abolished. Am I right in thinking that the builder will now have to pay the amount towards other incentives or will I lose that proposed amount since the SDLT has been abolished. Do i need to contact my conveyancer to sort this out before legal exchange of contracts?.
Any advice would be much appreciated .
Thanks in advance .
I am in the midst of buying my new home, within weeks from now I will be legally exchanging contracts. I was offered an amount towards incentives and part of this amount was towards the stamp duty. Since the new budget ,the stamp duty has been abolished. Am I right in thinking that the builder will now have to pay the amount towards other incentives or will I lose that proposed amount since the SDLT has been abolished. Do i need to contact my conveyancer to sort this out before legal exchange of contracts?.
Any advice would be much appreciated .
Thanks in advance .
0
Comments
-
You need to ask your developer what their stance is.Since the new budget ,the stamp duty has been abolished.
It hasn't been abolished. There's an exemption for first time buyers up to given limits.0 -
They don't have to give you a replacement incentive. Have you asked the developer?0
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