Stamp Duty - Potential Good News

Time to buy the million pound mansion on interest only

 

Excellent idea but who's paying for it longterm,it has to replaced with some other taxation system or the wheel stops turning.

 

learnt fvck all have we ? Keep feeding the haves, £1.5 bn handed to arts during what is going to be the worst economic crisis ever.

 

..........and have you not mentioned the handouts to rich corrupted countries that goes on this very day as we speak.

 

They'll extract it much later inlife from you with death duties or other...they always win in the end.

 

My completion is provisionally due end of August at the earliest. Though a 2nd wave could push it into next year. A stamp duty holiday would be a real boost as all government incentives have done feck all to help me. My business has suffered and I'm stuck in my post divorce rental paying through the nose every month due to Covid delays up the chain. However, knowing my luck this will, in some way, not be applicable to me. Going to have to wait until tomorrow to find out but not holding my breath.

 

We are actually going to have to raise tax to get out of the crap, unless we pass it on to our kidsagain. Plus like a junky, we keep going back to the house market for the fix

 

I stopped collecting stamps years ago when I was at school. So, I suppose that it saves me nothing - unless I start collecting stamps again. Maybe Boris collects them.... oh no, that is illegitimate kids...… so I'm told.

 

This would be good news and likely to be successful in terms of bump starting the housing market. Various stamp duty holiday schemes have been used post-2008 and for the most part, they certainly helped. Only sticking point used to be how the brackets at which point stamp duty became applicable again would cause house prices to become stuck at that level until they could jump far enough past. We had houses stuck at £250k that would then have to jump to £270k, it basically wipes out any house being worth £251k to £265k so everyone started putting £5k through as "fixtures and fittings".

So if this holiday is up to £500k as rumoured, I would say that it will likely wipe out any houses being worth £501k up to possibly £540-550k, the house has to be really worth it to stump up the £25k of stamp duty at that level.

(Merely the opinions of an ex Estate Agent for my sins, don't all fire at once, at least let everyone get a go! )

 

It's now looking like it's not actually happening until the October budget with just an announcement tomorrow... if that's really the case that's the property market utterly fecked for the next few months then Doesn't look like they've thought this through very well... not quite the rescue package that the industry or myself as a sitting-on-the-shelf since the beginning of March house-buyer envisaged after the initial rumours earlier today.

Guess we'll have to wait until tomorrow to find out, it's all a bit too speculative at the moment.

If this means I have to risk loosing the property that I have my heart set on or stump up the duty then I'm going to be very

 

I just seem to be having the perfect year.
Set up as self employed in Jan, while living in a stupidly priced rental and trying to buy a house with all the cash from my previous house in the bank.
Covid hits - nowt from the self employed relief as aint been at it long enough. Nowt from the benefits as I've got too much cash. House market stalls as everyone frightened of moving. My business needs foreign travel, so work dries up completely.
Find a house to buy just as lockdown starts, but move blocked so 3 more months stupid rent down the shitter.
Finally things start to shift, so house move goes ahead. Within 3 weeks of moving, they say they may knock stamp duty on the head.
TOO F*CKIN LATE......... Am seriously fed up of throwing money away this year that could have been spent on bikes.

The sort of year I'm having, the pani R will be leaving the Donington Ducati day in bin bags.

 

whats a mortgage?

 

At least you're into the house you want. At the beginning of March when offer was accepted I was told exchange was going to be end of April by estate agent... well that turned out to be May as they tend to lie/tell you want you want to hear. Then it became June. Earliest I'll be in will now be end of August but if this stamp duty holiday happens as it looks this afternoon then it's going to be a case of proceed, pay £8.5k you wouldn't have had to in a month or loose the sale. All I've been doing all year is going backwards financially, I'm close to having nowt left in the way of savings once the move is done, at my age that's not good. Like you my business has suffered and I've had zero help from the government.

Will have to see what's announced tomorrow. First thing everything looked hopeful and rosy, now it looks even bleaker than it did yesterday. Nothing about it on the MSM news at lunchtime.

 

I don't get why they "leak" these schemes months in advance. In this case l, as has been mentioned, who would buy a house now. So everybody waits to see if they can have a bargain. Same with the 500 pound per adult voucher. Might never happen but am I going to spend money on let's say a sofa or new leathers now. Of course not. I wait if this voucher comes my way. Sure thing to stop spending in its tracks.