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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
We're aware that some users are currently experiencing errors on the Forum. Our tech team is working to resolve the issue. Thanks for your patience.
House purchase before end of stamp duty holiday
Comments
-
Yes, you are correct. In fact it's worse than that - not only do you lose the deposit, you are also in "breach of contract", which means you can be held liable for losses suffered by your vendor - which could include things like hotel costs and storage fees if the vendor cannot complete their onward purchase.lf93 said:Also, are we right in thinking that if we exchange with a view to completing before the deadline, but there is a delay and completion is delayed, and we have to pull out, we lose our entire deposit...? We were thinking of asking conveyancer to draw up papers to prevent this happening - we are aware that we would lose all fees (agents, legal etc.) but that is nothing compared to losing deposit which would include the roof over our heads!
Your conveyancer cannot draw up papers to get around this. Realistically, the other parties are not going to accept a clause where you can pull out without losing your deposit - that is a standard part of conveyancing transactions.
Only exchange when you are 100% sure you can complete.0 -
I think this is incorrect. According to MSE guide:jimmyjammy001 said:I quite certain you can not claim the funds from a LISA if you are buying with someone who has allready brought a house in the past, you both have to be FTBs in order to claim the LISA government top up
'If you're a first-time buyer making a purchase with someone who's owned before – you can still open one and use it towards a home purchase together'
But my partner can't have a LISA for house purchase.0 -
This is not the case. You can still use LISA funds with a non-FTB buyer .jimmyjammy001 said:I quite certain you can not claim the funds from a LISA if you are buying with someone who has allready brought a house in the past, you both have to be FTBs in order to claim the LISA government top up
https://lifetimeisa.campaign.gov.uk/#withdrawing_the_basics
https://www.moneyboxapp.com/faqs/lisa/buying-house-with-someone-else/#:~:text=Yes!,also a first time buyer.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards