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Stamp duty threshold being raised today...

13

Comments

  • lucasmum
    lucasmum Posts: 324 Forumite
    This is quoted off BBC website. 'From this April, key workers such as teachers and nurses, will be able to borrow money from shared equity schemes. Stamp duty on shared ownership homes will not be required until people own 80% of their home.'

    Does this mean only key workers who take part in shared ownership benifit or anyone who is buying a shared ownership house? (asks the non keyworker buying a shared ownership house!!)
  • hermanmunster_3
    hermanmunster_3 Posts: 647 Forumite
    Ha ha

    I think most buyers are in shared ownership .... with the Bank or Building Society owning most of it!!!!!
  • otter1_2
    otter1_2 Posts: 91 Forumite
    hermanmunster wrote: »
    Ha ha

    I think most buyers are in shared ownership .... with the Bank or Building Society owning most of it!!!!!

    How true.

    This does seem remarkably shortsighted, for the reasons dannyboycey mentions.
  • dannyboycey
    dannyboycey Posts: 1,060 Forumite
    In fact, this measure is such a pathetic gesture that it's hardly been mentioned on the news.
  • Ivana_B_Rich
    Ivana_B_Rich Posts: 599 Forumite
    Part of the Furniture 500 Posts Name Dropper
    IMO the government are aware that house prices are falling and didn't increase stamp duty so that as the market corrects they don't loose too much potential revenue.

    Is this possible?
    Saving a house deposit. Member no.7 100% of target :D

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  • dannyboycey
    dannyboycey Posts: 1,060 Forumite
    Ivana_B_Rich wrote: »
    IMO the government are aware that house prices are falling and didn't increase stamp duty so that as the market corrects they don't loose too much potential revenue.

    Is this possible?

    Good point actually. There's a correlation between price drops, threshold rates and the amount they rake in from us.

    As prices drop, thresholds are effectively higher anyway. More house for your money.
  • ds1980
    ds1980 Posts: 1,213 Forumite
    Say a typical ftb house is worth £125-£150k thats only £1250-£1500 more than if under £125k

    If someone can't afford £1250-£1500 they shouldn't be buying a house in the first place. Raising the threshold will do nothing but inflate prices above ftb's so they can't move up the ladder so its all a bit pointless really.

    Its a fact of life just like any other tax get over it.
  • dannyboycey
    dannyboycey Posts: 1,060 Forumite
    ds1980 wrote: »
    Its a fact of life just like any other tax get over it.


    Shall I just get a big tub of vaseline and bend over?

    That kind of attitude is precisely why governments squeeze us for what they can!
  • ds1980
    ds1980 Posts: 1,213 Forumite
    We need taxes to help others. Unfortunately, the nhs, the elderly, school children, families, single parents, under privileged kids and everyone else to that matter all come before you. I feel very sorry for you but go and buy a flat.
  • dannyboycey
    dannyboycey Posts: 1,060 Forumite
    ds1980 wrote: »
    We need taxes to help others. Unfortunately, the nhs, the elderly, school children, families, single parents, under privileged kids and everyone else to that matter all come before you. I feel very sorry for you but go and buy a flat.

    If you think they spend all your hard-earned money on worthwile causes such as those, you are sadly disillusioned. As a business owner who writes out a sizeable tax cheque to the government each year, I feel I have the right to an opinion on how they spend it.
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