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Bovril

Camclegg And Stamp Duty

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Hi All,

What do people think Cam/Clegg and Osbourne will do to Stamp Duty in the emergency budget if anything at all?

The main reason I ask is that our landlord wants to sell the flat we have been renting for the last 4 years (spooked by CGT). We weren't planning to buy for a while and have been taking a wait and see approach, but we have found a mortgage (we have a 25% deposit) that will be less in monthly repayments with a 5 year fix than we pay in rent or that we would potentially pay in rent in any of the properties up for let in our area. This has made us tempted. Annoyingly the LL wants £20k over the Stamp threshold and as we are FTB that would mean paying £8k odd instead of nothing.

Edited by Bovril

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i expect them to cement in the 'temporary' 0% stamp duty for FTB of houses under 250k. It starts at 125k for the rest of us, but I suspect that may go up a bit to 130k or even 150k.

I take it your l/l has priced the house at 270k. There is no way anyone will pay this if they have half a brain, 249,999 at the most. As you say, £1 more will cost £7.5 + in stamp duty, to anyone. There's alway the jiggery pokery of £249k for the house and £10k for the "furniture," ahem. It's been clamped down on a bit I believe after there were payments of £50k or more for the 'fixtures and fittings.'

Edited by deflation

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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