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Stamp duty changes
nick205 - 4/12/14 at 08:58 AM

Currently moving house and the new stamp duty rules will save us a good chunk of money on the purchase.

Had been getting annoyed that the conveyancing was taking so long as well

whitestu - 4/12/14 at 08:59 AM

Anyone exchanging recently would be pretty pissed off.

loggyboy - 4/12/14 at 09:11 AM

Its actually a bit of shame for me - the houses we were looking at are around the 250k mark a lot of these were priced down by 5-10k or so to avoid being just over the tax threshold. There was a big gap in the market between 250k -300k, this will now be filled, so whilst I might save £5 on stamp duty , we'll be paying 10k more for the house!

[Edited on 4-12-14 by loggyboy]

mark chandler - 4/12/14 at 09:18 AM

Estate agents will soon fill the gap, I may have to let the butler go when we move, so unfair

loggyboy - 4/12/14 at 09:28 AM

quote:
Originally posted by mark chandler
Estate agents will soon fill the gap, I may have to let the butler go when we move, so unfair


Didn't realise Tadley had be come that affluent!

nick205 - 4/12/14 at 09:56 AM

quote:
Originally posted by loggyboy
Its actually a bit of shame for me - the houses we were looking at are around the 250k mark a lot of these were priced down by 5-10k or so to avoid being just over the tax threshold. There was a big gap in the market between 250k -300k, this will now be filled, so whilst I might save £5 on stamp duty , we'll be paying 10k more for the house!

[Edited on 4-12-14 by loggyboy]



Fair point and as the £250 to £300 gap is filled, it will drag everything else up as well, which is not good either.

bi22le - 4/12/14 at 11:16 AM

We are currently moving but not exchanged yet. This has saved us 4.
5k. We both agreed last night to spend it on a new larger garage! !!

Thanks George!

jeffw - 4/12/14 at 11:48 AM

We have the same problem with the £1M mark....but not anymore

big_wasa - 4/12/14 at 12:19 PM

We are due to exchange this week and the saving will buy me a good workshop shed to supliment my single garage

britishtrident - 4/12/14 at 01:00 PM

A couple of weeks from now watch what has happened to house prices, the hike on those near the threshold will be much greater than any saving on stamp duty, it will then have a knock on effect, the only winners will be sellers of houses above the threshold.

Stamp Duty is a pretty nasty tax but a change as major as this can't be done without hurting somebody

mark chandler - 4/12/14 at 01:33 PM

It was however long overdue.

When we sold a few years ago juggling the price around the thresholds was a real pain, taking off a £5000 saved the buyer £15,000, as above the hike due to charges left a big gap, the difference between getting what you want and what you can afford for many.

Don't worry loggyboy, we shall keep the maids on whatever, it is very posh around here we even have embossed toilet paper this week . Nice.

beaver34 - 4/12/14 at 03:42 PM

same here just saved 1k

happy days

russbost - 4/12/14 at 06:46 PM

My daughter has saved over £900, she's a happy bunny - as someone else said, she was fed up conveyancing taking so long - very glad now they didn't hurry it thro'!

joneh - 4/12/14 at 08:30 PM

My mate at work completed last week and reckons he's lost £14k!

I assume he's counting the £10k he dropped to get it under the old 250 value...