Am I right in saying that stamp duty is calculated on completion?
So I've exchanged and waiting for completion so I won't have to pay SD? (House under 500k)
Yes this is my understanding as it's only payable on completion. Check with solicitor though.
Yeah will do tomorrow. From what I'm reading it sounds positive!
2nd property buyers pay an higher rate of stamp duty already. This isn't about helping the rich. It's about helping 'Average Joe' buy their own house.The free stamp duty is just for the rich, those that can afford a house up to 500k dont need free stamp duty.
All this does is gives an incentive to 2nd property buyers, whereas first time buyers will find it hard to get on the ladder.
They should have done something about mortgages, most lenders have pulled 5% and 10% mortgages at the moment.
They could have also brought back help to buy isa and improved the help to buy isa, by increasing the bonus payment from 25% and allowing the bonus to be used towards the deposit.
This is about reinvigorating a market now that lockdown is (mostly) done. It's never going to please everyone but seems like a positive step.Shame they didn't bother helping the people who struggled through with their purchases throughout the lock down eh?
2nd property buyers pay an higher rate of stamp duty already. This isn't about helping the rich. It's about helping 'Average Joe' buy their own house.
What more can they possibly do to help with mortgages than set the base rate at 0.1%?
2nd property buyers pay an higher rate of stamp duty already. This isn't about helping the rich.
Not in the South East it isn't. And nearer London, that gets you a flat.The average Joe doesn't have a 500k house. The average UK house price is 247k.
This is about reinvigorating a market now that lockdown is (mostly) done. It's never going to please everyone but seems like a positive step.
It's about helping 'Average Joe' buy their own house.
like I said most lenders have scrapped 5% and 10% mortgages.
For average joe to buy their first house, the existing occupants have to want to sell it.Actually it's more about helping the "Average Joe" being able to move house - FTB's were already exempt on purchases upto 300k.
For average joe to buy their first house, the existing occupants have to want to sell it.
It is.I thought the rebate was 36 months?