Zzzzzzzzzzzzzzzzzzzzzzzzzz Posted November 14, 2017 Share Posted November 14, 2017 https://www.thesun.co.uk/news/4902639/philip-hammond-will-cut-stamp-duty-for-first-time-buyers-in-bid-to-attract-young-voters-with-2000-tax-boost/ Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted November 14, 2017 Share Posted November 14, 2017 '...is said to be considering...' Putting out the feelers anyone? Quote Link to comment Share on other sites More sharing options...
btd1981 Posted November 14, 2017 Share Posted November 14, 2017 He does get that reducing this tax, in a high demand market, will only result in the headline prices increasing to take up the slack, does he? Quote Link to comment Share on other sites More sharing options...
Kilham Posted November 14, 2017 Share Posted November 14, 2017 Appear to help FTBs and keep homeys happy with more HPI at the same time. Win-win. But not for us. Quote Link to comment Share on other sites More sharing options...
winkie Posted November 14, 2017 Share Posted November 14, 2017 What is a first time buyer? What if you bought a place in your twenties, got divorced for argument sake......rented for 20 years then decides to buy in 50s.....how would anyone know if they owned 20 years ago? Not a first time buyer. Anyway all for it, buying a first home means buying furniture and other items/decoration to create a home, what would have been paid out in SD comes back in VAT. Quote Link to comment Share on other sites More sharing options...
nothernsoul Posted November 14, 2017 Share Posted November 14, 2017 Completely agree with kilham. They know house prices are causing a problem, but at the same time dont want a dramatic fall. The current zero percent level is 125 grand. Doesnt sound a lot but that is  over 4 times the average income. In a normal society 4 to 5 times average income would buy a first time buyer somewhere decent. Quote Link to comment Share on other sites More sharing options...
JDI Posted November 14, 2017 Share Posted November 14, 2017 35 minutes ago, winkie said: What is a first time buyer? What if you bought a place in your twenties, got divorced for argument sake......rented for 20 years then decides to buy in 50s.....how would anyone know if they owned 20 years ago? Not a first time buyer. Anyway all for it, buying a first home means buying furniture and other items/decoration to create a home, what would have been paid out in SD comes back in VAT. If you have bought in the past then you're not a first time buyer. I'd be surprised if they can't/don't check the land registry for previous purchases.  You might be lucky - if the records don't go back far enough. Quote Link to comment Share on other sites More sharing options...
winkie Posted November 14, 2017 Share Posted November 14, 2017 9 minutes ago, Just_Do_It said: If you have bought in the past then you're not a first time buyer. I'd be surprised if they can't/don't check the land registry for previous purchases.  You might be lucky - if the records don't go back far enough. Can they check to see if already own one anyway? Quote Link to comment Share on other sites More sharing options...
JDI Posted November 14, 2017 Share Posted November 14, 2017 It'll be stored on the land registry, whether they actually check it is another matter. Quote Link to comment Share on other sites More sharing options...
DarkHorseWaits-NoMore Posted November 14, 2017 Share Posted November 14, 2017 (edited) 18 minutes ago, winkie said: ...I'd be surprised if they can't/don't check the land registry for previous purchases. I bet no one checks anything like that. Na, no way. Ask yourself, who would benefit by doing so? FTB = not having a mortgage in the last 6 months. ie. anyone with a pulse. The image that "First Time Buyer" conjures up in the general publics' ill-informed mind bares no connection with actual reality but makes a great heart warming headline.  More HPI props comming soon, sadly many on HPC will be very disappointed. Edited November 14, 2017 by DarkHorseWaits-NoMore Quote Link to comment Share on other sites More sharing options...
winkie Posted November 14, 2017 Share Posted November 14, 2017 10 minutes ago, Just_Do_It said: It'll be stored on the land registry, whether they actually check it is another matter. Does John Smith own a property in the UK? Quote Link to comment Share on other sites More sharing options...
Funn3r Posted November 14, 2017 Share Posted November 14, 2017 I own a square foot of land on the moon am I still an FTB? Quote Link to comment Share on other sites More sharing options...
winkie Posted November 14, 2017 Share Posted November 14, 2017 1 minute ago, Funn3r said: I own a square foot of land on the moon am I still an FTB? Does it have planning permission? Quote Link to comment Share on other sites More sharing options...
LittlePig Posted November 14, 2017 Share Posted November 14, 2017 I think spreadsheets maybe as politically capable as May. What a pair. Quote Link to comment Share on other sites More sharing options...
Parkwell Posted November 14, 2017 Share Posted November 14, 2017 2 hours ago, Maynardgravy said: '...is said to be considering...' Putting out the feelers anyone? If so, listen up Hammond Feelers. Speaking as a potential FTB you can stick your stamp duty cut up your tediously unimaginative ****. Quote Link to comment Share on other sites More sharing options...
Philby1 Posted November 14, 2017 Share Posted November 14, 2017 I just know that I'll be in a really bad mood for the rest of the week once the idiot Hammond has announced his stupid ideas, that will keep house prices up. Ideas that don't help anyone in society other than the Rentier class and he knows it. The only saving grace is the Tories are going to wiped off the face of the earth at the next election, I'm only hoping that's not in 4 and a bit years time. Quote Link to comment Share on other sites More sharing options...
Dorkins Posted November 14, 2017 Share Posted November 14, 2017 Clueless Tories laying out the welcome mat for the next Labour government. Quote Link to comment Share on other sites More sharing options...
Dražen Petrović Posted November 14, 2017 Share Posted November 14, 2017 28 minutes ago, Dorkins said: Clueless Tories laying out the welcome mat for the next Labour government. I think it is a high speed lift.Pulling Corbyn from rubbles to No:10 Quote Link to comment Share on other sites More sharing options...
mattyboy1973 Posted November 14, 2017 Share Posted November 14, 2017 2 hours ago, btd1981 said: He does get that reducing this tax, in a high demand market, will only result in the headline prices increasing to take up the slack, does he? I'm quite sure that is exactly why he is doing it. Quote Link to comment Share on other sites More sharing options...
BorrowToLeech Posted November 14, 2017 Share Posted November 14, 2017 Not too bad. It'll push up prices a bit, but restricting to first time buyers will ameliorate that a bit, and I'd guess that it landlords driving what was the FTB market. Quote Link to comment Share on other sites More sharing options...
Mapatasy Posted November 14, 2017 Share Posted November 14, 2017 (edited) BTL has been touted by Osborne, Carney etc for quite a while now as a real and present threat to the stability of the economy and the wider banking system... by 'helping out' FTBs they will in fact be enabling overextended members of the BTL market to bail out with a soft landing - ultimately reducing risk for all parties. Two birds - one stone. Annoyingly it makes sense. Â Â Â Â Edited November 14, 2017 by Mapatasy Quote Link to comment Share on other sites More sharing options...
dugsbody Posted November 14, 2017 Share Posted November 14, 2017 2 minutes ago, Mapatasy said: BTL has been touted by Osborne, Carney etc for quite a while now as a real and present threat to the stability of the economy and the wider banking system... by 'helping out' FTBs they will in fact be enabling overextended members of BTL to bail out - ultimately reducing risk. Two birds - one stone. Annoyingly it makes sense. It is more stimulus to the demand side, which isn't what we need. However, it might help them buy some young votes from people who don't realise they're being played and also move the figures back toward more OOs a little so they can claim they're doing the right thing. Since the UK economy largely relies on high house prices, it makes sense to the government but it's still not the right policy. Quote Link to comment Share on other sites More sharing options...
Mapatasy Posted November 14, 2017 Share Posted November 14, 2017 Just now, dugsbody said: It is more stimulus to the demand side, which isn't what we need. However, it might help them buy some young votes from people who don't realise they're being played and also move the figures back toward more OOs a little so they can claim they're doing the right thing. Since the UK economy largely relies on high house prices, it makes sense to the government but it's still not the right policy. Agreed... it's absolutely the wrong thing to be doing but time has proven that stability within the banking sector is the only importance. Bank stress test results out on the 28th! Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted November 14, 2017 Share Posted November 14, 2017 Stamp duty holidays? Anybody would think there was a property crash and a financial crisis. How things change with the demons of ZIRP. Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted November 14, 2017 Share Posted November 14, 2017 Whats the average FTB price? Is it really stamp duty stopping people buying houses? 1%? If it were 10/15% ok, I'd agree Quote Link to comment Share on other sites More sharing options...
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