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    • ViolaLass
    • By ViolaLass 23rd Nov 17, 12:06 PM
    • 5,592 Posts
    • 7,723 Thanks
    ViolaLass
    No, the 95% figure means that 95% of first time buyers will be 'helped' by the changes to stamp duty.
    Originally posted by northwalesd
    Which undermines Mersey's claim that 'the majority of people' will be helped by this.
    • simond83
    • By simond83 25th Nov 17, 9:26 PM
    • 19 Posts
    • 2 Thanks
    simond83
    I bought my first home in April this year. However, it was a shared ownership property, and i was able to afford 65% of it.

    The total price of the property was 295,000, meaning my 65% share was bought for 191,750. On that price, my Stamp Duty cost came to 1,335. Had i opted to pay the entire stamp duty bill for 100% of the property, i would have paid 4750, but am very pleased i didn't take this option!

    So, were the value of my property to stay at 295,000 when i come to staircase up to 100%, would i have to pay Stamp Duty on that remaining 35% (3415), or am i still classed a first time buyer and under the 300K mark, so will i get let off? Can find the answer to this anywhere!

    Thanks, Simon
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