Jump to content
House Price Crash Forum

Recommended Posts

46 minutes ago, “Nasty Piece of work” said:

With it evident (from my own searches) that potential vendors have decided they have a God-given right to SDLT, where do I need to look please to see the increasing rejection rate of finance applications?

Thanks in advance, presuming these numbers are available somewhere.

I am sure it is not listed anywhere

Link to post
Share on other sites
1 hour ago, “Nasty Piece of work” said:

With it evident (from my own searches) that potential vendors have decided they have a God-given right to SDLT, where do I need to look please to see the increasing rejection rate of finance applications?

Thanks in advance, presuming these numbers are available somewhere.

You mean they want £500k+ and wont except £499999.99, so you have to pay 5% SDLT rather than the now 0%?   

As it is now a "cliffedge" tax, try picking something expensive and agreed as "included" in the sale, curtains, carpets, Garden building, curtain poles, and request you buy them as part of the sale but seperate from the house, for £1100, so they get £499k for the house and £1100 for said item, total £500,100. so £100 more for "nothing".   

Depends how much over £500k they are?  But no sympathy from me, i paid £501k in 2016 and paid £15k in stamp duty.

Link to post
Share on other sites
5 minutes ago, markyh said:

You mean they want £500k+ and wont except £499999.99, so you have to pay 5% SDLT rather than the now 0%?   

As it is now a "cliffedge" tax, try picking something expensive and agreed as "included" in the sale, curtains, carpets, Garden building, curtain poles, and request you buy them as part of the sale but seperate from the house, for £1100, so they get £499k for the house and £1100 for said item, total £500,100. so £100 more for "nothing".   

Depends how much over £500k they are?  But no sympathy from me, i paid £501k in 2016 and paid £15k in stamp duty.

It is not a cliff edge tax. 

Link to post
Share on other sites
3 minutes ago, qejunkie said:

It is not a cliff edge tax. 

then the OP is bellyaching then surely, they are getting the first £500k of £0% tax?  So say £501k like i paid, in stead of £15050 SDLT they pay £50!!!  WTF. 

I really dont get it?  Unless they are expecting vendors to drop from £700k to £500k to avoid them paying £10k SDLT? 

What gives, they are getting the first £500k of a property purchase completely free of SDLT!

Link to post
Share on other sites
4 hours ago, markyh said:

I really dont get it?

Agreed.

4 hours ago, markyh said:

then the OP is bellyaching......

No - the OP is amazed that it is claimed by the UK Government that it is another prop to help FTB’s, not potential vendors.  It is an attempt to further “kick the can” at your and mine cost, and extend their miserable existence.  They might as well give one of the most appalling PM’s husband’s a Peerage.

Link to post
Share on other sites
2 hours ago, “Nasty Piece of work” said:

Agreed.

No - the OP is amazed that it is claimed by the UK Government that it is another prop to help FTB’s, not potential vendors.  It is an attempt to further “kick the can” at your and mine cost, and extend their miserable existence.  They might as well give one of the most appalling PM’s husband’s a Peerage.

Ah now i get it, houses you have been "stalking" for several months, like a good buyer does, have suddenly gone up in asking price by the saving you would have made from the SDLT now being 0%. 

Easy answer is to only offer what you want to pay taking this back into account and "walk away" if they wont accept. Timing is everything. 

the house I bought in 2016 was built in 2009 and first sold for £450k, on the market in 2015 for £575k, didnt sell. Had SSTC in April 2016 for £540k , sale fell through after Brexit vote, as that couple suddenly got divorced (maybe because of Brexit?).   We found ourselves after the Brexit vote with a £350k sale agreed on our house (also built in 2009 and we paid £230k), and this house reduced to "offers over £500k". As the Vendors were "desperate", downsizing, Adult kids still living at home in their late 20's, and the daughter with a kid in tow now as a single mum. The vendors had agreed on a nice 2 bed newbuild and were under immense pressure from the builder to exchange or have the plot put back on the market. 

So smelling the fear and opertunity, we offered, £501k, well, it was an offer over £500k! 

They immediately accepted , despite their EA advising not to take such a low offer. 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 417 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.