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
Is there enough time left before stamp duty holiday deadline to buy a house?
Singh23
Posts: 46 Forumite
I am looking to buy a property in time to receive the stamp duty holiday relief. Is 8 weeks sufficient time for conveyancers and a mortgage? The deadline is 30/06/2021.
The house purchase is for a neighbouring property, so I do not expect any issues to crop up in searches and we are friendly with the seller. I am not a first-time buyer.
Many thanks in advance
0
Comments
-
It is tight. Have you asked your conveyancer?
there are so many variables no one can give you a definitive answer, where I live it might be possible, but I wouldn’t rely on it.
You should be able to get if through by September though, so are unlikely to have to pay the full whack.0 -
whilst the transaction itself might be really straightforward, it really depends on the workload of the solicitors involved and how long searches are taking ... there's quite a backlog building up ... worst case scenario, if you don't meet the deadline, you'll still enjoy the first £250k being duty free ...
Good luck
0 -
If there is no chain then it is possible.
Even then, you are cutting it fine. My sister just bought a house no chain on either side, and it still took over 3 months.0 -
Would be largely based on the conveyancers on each side and their workload really. But on the other hand, our searches took 8 weeks so there are too many variables. And we completed after 15 weeks for a no chain house. The vendor was on top of it all but the conveyancers were either not, or they were just too busy. If it had not been extended, we wouldn't have made it.
I would go into it as if I'd have to pay the amount in the end if you really love the house and can budget for it.1 -
I'll get my piece of string......But in all seriousness the best answer is maybe/maybe not. Better to ask yourself. Is the property worth your agreed purchase price if you miss the first SDLT window? Would you still proceed even if you miss the first window given it will be the same for every house?
0 -
There's no relief. Just smoke and mirrors. With people looking to cash in while the going is good.Singh23 said:I am looking to buy a property in time to receive the stamp duty holiday relief.2 -
Exactly as witnessed by the crazy advert from hoopla!Thrugelmir said:
There's no relief. Just smoke and mirrors. With people looking to cash in while the going is good.Singh23 said:I am looking to buy a property in time to receive the stamp duty holiday relief.
Yet again we see the emperor's new wardrobe being dusted off and wheeled out.
Your life is too short to be unhappy 5 days a week in exchange for 2 days of freedom!0 -
I would say no, there is not enough time. Expect not to complete by the end of June and you will not be disappointed. The extension was made to help people already stuck in the process, due to everything taking longer to progress. Stamp duty up to £250k will still be zero up to the end of September, if that helps.3
-
If you know the area well, you should be okay without searches. But, I bet your lenders will still want them.No reliance should be placed on the above! Absolutely none, do you hear?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
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards