Stamp duty question, Shared Ownership

SDLT_Geek

stringer97 said:

SDLT_Geek said:

stringer97 said:

thankyou so much, the figures bring some relief to me and make a big difference to money I have available to reach 100%.

The one part I'm stuck on is this meaning: The fraction is £81K / £386K. I don't understand what your doing here to get SDLT of £1,427.

I am taking £81 / £386 of £6,800.

The £81,000 represents the staircasing payment getting you over a 80% share.  The £386,000 is the total you have paid for the lease, including staircasing payments.

Thankyou.
Just played with the calculator and worked out how you got the figure. 

If I could ask you one more question before we part ways, you already helped me out so much and taken a world of stress off my shoulder. Looking at these figures I see I'm better off the way I done it rather than pay the full price back in 2017. Why isn't this explained better to us when purchasing first time and why is it the so much less than the 9k originally quoted to me.  It really is a mind fk. 

Dan

I doubt if anyone would have predicted in 2017 that the SDLT threshold would have increased from £125K to £250K (in a form of pandemic driven "holiday") by the time you completed the staircasing.  That is a major factor in the way the figures look.

Also, the way your staircasing has gone, going up to 80% at first, but not beyond until in one final step, has worked well for you.

Just as well you decided not to spend the £9K in 2017!

stringer97

SDLT_Geek said:

stringer97 said:

SDLT_Geek said:

stringer97 said:

thankyou so much, the figures bring some relief to me and make a big difference to money I have available to reach 100%.

The one part I'm stuck on is this meaning: The fraction is £81K / £386K. I don't understand what your doing here to get SDLT of £1,427.

I am taking £81 / £386 of £6,800.

The £81,000 represents the staircasing payment getting you over a 80% share.  The £386,000 is the total you have paid for the lease, including staircasing payments.

Thankyou.
Just played with the calculator and worked out how you got the figure. 

If I could ask you one more question before we part ways, you already helped me out so much and taken a world of stress off my shoulder. Looking at these figures I see I'm better off the way I done it rather than pay the full price back in 2017. Why isn't this explained better to us when purchasing first time and why is it the so much less than the 9k originally quoted to me.  It really is a mind fk. 

Dan

I doubt if anyone would have predicted in 2017 that the SDLT threshold would have increased from £125K to £250K (in a form of pandemic driven "holiday") by the time you completed the staircasing.  That is a major factor in the way the figures look.

Also, the way your staircasing has gone, going up to 80% at first, but not beyond until in one final step, has worked well for you.

Just as well you decided not to spend the £9K in 2017!

Thankyou so much kind Sir.

You have been of Great help. All the best.