Stamp Duty Exemption for 2nd homeowners

grumiofoundation

ILBfree1day said:

SpiderLegs said:

Ah diddums. Did the nasty man not give you a big enough lollipop.

No, he just didn't give me any lollipop at all.

Yes he did - have you even bothered to read the new rules ? 

https://www.gov.uk/guidance/stamp-duty-land-tax-temporary-reduced-rates

SpiderLegs

ILBfree1day said:

SpiderLegs said:

Ah diddums. Did the nasty man not give you a big enough lollipop.

No, he just didn't give me any lollipop at all.

You‘be started a thread complaining about something you haven’t understood.
lots of posters have pointed out how you haven’t understood it.

you still haven’t understood it.
there is no hope.

[Deleted User]

The problem is any exemption will be massively abused. People claiming they live somewhere they don't, putting it in their partner's name, that sort of thing. The whole market is toxic.

foxy-stoat

I own 1 home, I think its unfair that I cannot own 2 as I do not have enough money......wheres my lollipop at?

[Deleted User]

ILBfree1day said:

Yes I have read the rules and fully understand them.
In the lolly analogy, I concede. There is a lolly for 2nd homeowners. The lolly is simply not big enough to be fair to all circumstances. IMHO. 

If you are stuck on a previous property that is subject to say a mesher as part of a divorce financial settlement, then that home is ignored for SDLT 

moneysavinghero

ILBfree1day said:

Yes I have read the rules and fully understand them.
In the lolly analogy, I concede. There is a lolly for 2nd homeowners. The lolly is simply not big enough to be fair to all circumstances. IMHO. 

Life is not fair. If a poor person, who cant afford a house but who has been desperately saving up to try and afford one one day, loses their job then they wont get any unemployment benefit because they have too much savings. Someone living in a one million pound house but has little savings (or has them hidden in off shore accounts) would be entitled to benefits if they lost their job.

Just be happy you got a lolly, even if it's not as big a lolly as you think you see other people getting.

bolwin1

The sense of entitlement is ridiculous. You could get exactly the same benefit as everyone else in the UK buying a home, saving potentially £15,000 over the same purchase yesterday & you are still complaining its unfair. 

[Deleted User]

ILBfree1day said:

Densol said:

ILBfree1day said:

Yes I have read the rules and fully understand them.
In the lolly analogy, I concede. There is a lolly for 2nd homeowners. The lolly is simply not big enough to be fair to all circumstances. IMHO. 

If you are stuck on a previous property that is subject to say a mesher as part of a divorce financial settlement, then that home is ignored for SDLT 

Thanks Densol.
But the other owner is a family member so I'm unsure if this would apply. But perhaps there is something in law that is similar to a mesher concept perhaps in the form of some sort of court order (that I will be forced to apply for myself unrepresented if this continues any longer) could perhaps apply to what would technically have been cohabitees but not a couple. A right mess. But thanks! - will investigate. 

Then its a land and trusts application to force a sale of that property and get yourself released. Only time courts may be reluctant is if minor children of yours still live in the house. If not and its an adult relative, then a forced sale may have to happen

Id start another thread with a heading specific to your circumstances - as someone may have knowledge if a “loophole / caveat” exists 

sheramber

a case of needing to move whilst trying to mitigate the expense due to our limited borrowing.
But you now need to pay less than you would have had to pay yesterday so have more potential to buy than before.

tobedivorced

Densol said:

This is great news 
We only pay 3% surcharge on top of (now) zero SDLT up to £500k 

so if I'm purchasing a second main property at £137,125 do I pay 3% of the £137,125 ??