Missed stamp duty deadline

peeps70

So my 1st time buyer changed mortgages at the last minute so myself and everyone in my house buying and selling chain have missed the stamp duty free deadline. 
We were supposed to complete on 30th sept. 
Now, no idea.
How is this even allowed.

SpiderLegs

It’s not allowed. Call the police immediately.

MaryNB

Have you exchanged? 

If not, any part of the chain can do that before exchange. They can do anything that could potentially delay exchange without penalty - completion isn't legally binding until exchange

If you have exchanged well then your buyer is in for some financial pain...

GoogleMeNow

Have you exchanged?  

NameUnavailable

peeps70 said:

So my 1st time buyer changed mortgages at the last minute so myself and everyone in my house buying and selling chain have missed the stamp duty free deadline. 
We were supposed to complete on 30th sept. 
Now, no idea.
How is this even allowed.

Not 'allowed' if you have already exchanged contracts, you can hold the FTB liable for your 'damages' but it will entail costly legal action and assuming you win the legal case you then have to actually get them money out of them.

If you haven't exchanged contracts yet then it is very much allowed as there is NO contract yet.

If you don't like the legal process of buying property then you should write to Boris and get him to do something about it.

Thrugelmir

peeps70 said:

So my 1st time buyer changed mortgages at the last minute

Did their original mortgage offer lapse? 

Bonniepurple

We’ve missed it because we couldn’t get removals.  We physically can’t move ourselves so we have to pay.  Looking at the somewhat dire weather forecast for Thursday I suspect £2.5k is a small price to pay for our stuff staying dry!  

It’s a small amount in comparison to the overall cost of moving- the new property, estate agent fees, solicitor fees, removal costs, mortgage costs etc etc.  

Flugelhorn

Bonniepurple said:

We’ve missed it because we couldn’t get removals.  We physically can’t move ourselves so we have to pay.  Looking at the somewhat dire weather forecast for Thursday I suspect £2.5k is a small price to pay for our stuff staying dry!  

It’s a small amount in comparison to the overall cost of moving- the new property, estate agent fees, solicitor fees, removal costs, mortgage costs etc etc.  

Totally agree - antics just about to start next door as they are moving themselves nearly 200 miles, couldn't get removals but determined to complete by end of month. 

Flugelhorn

peeps70 said:

So my 1st time buyer changed mortgages at the last minute so myself and everyone in my house buying and selling chain have missed the stamp duty free deadline. 
We were supposed to complete on 30th sept. 
Now, no idea.
How is this even allowed.

Would you have moved if the stamp duty holiday wasn't in place? in the long run  you will have spent far more than you saved - it'll happen sometime and probably be far less hectic

user1977

peeps70 said:

How is this even allowed.

No, I don't know why people were being allowed to not pay stamp duty either.