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SDLT Increase
Comments
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It could be worse. You could have bought a second house at auction yesterday - no get-out for me!0
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michael1234 said:sammyjammy said:In some ways the OPs reaction is what the government is hoping for, either more money in SDLT for the countries coffers or another house for a person to live in rather than have as a second home.1
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SonnyH said:TheJP said:mebu60 said:TheJP said:mebu60 said:Yes. SDLT is at completion.
You could try renegotiating the purchase price.0 -
KiwiCoop said:It could be worse. You could have bought a second house at auction yesterday - no get-out for me!
In fact exchanging contracts today can work for the transitional provisions.1 -
It’s frustrating how timing with SDLT can add unexpected costs. If renegotiation isn't possible, withdrawing might make more sense financially, though it’s a tough call with so much already invested in the process.
Hope you find a solution that works!0 -
Agree its a tough spot and it was always likely that something would happen in this area - only option that I know some people took was to exchange before budget and hope the +2% date would be exchange and not complete.
I agree with a few others that it's pretty normal to go 50/50 with seller - worst thing they can do is say 'no' or make a counter offer. All depends on circumstances and chains etc so good luck..0 -
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KiwiCoop said:It could be worse. You could have bought a second house at auction yesterday - no get-out for me!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her2 -
mebu60 said:Yes. SDLT is at completion.
You could try renegotiating the purchase price.0 -
sammyjammy said:In some ways the OPs reaction is what the government is hoping for, either more money in SDLT for the countries coffers or another house for a person to live in rather than have as a second home.0
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