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stamp duty

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By (user no longer on site) OP   
over a year ago

after months of looking I found the house, alot of saving I got the deposit then the great british government hit me with almost 10k stamp duty just because they can. its no wonder that so many people are stuck in either rented or with parents. The whole thing is just an expensive nightmare. my moan over what are your thoughts?

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By (user no longer on site)
over a year ago

Find out if the area your buying in is a regeneration area cause sometimes that's a way round paying stamp duty

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By (user no longer on site) OP   
over a year ago


"Find out if the area your buying in is a regeneration area cause sometimes that's a way round paying stamp duty"

its a new estate goin up

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By (user no longer on site)
over a year ago

Get your solicitor to check the area just incase

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By (user no longer on site) OP   
over a year ago

ok cool thanks

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By *bi HaiveMan
Forum Mod
over a year ago

Cheeseville, Somerset

How long have you been looking?

Stamp duty has been around since 1694!

And £10k? Works out to be a £333,333 house (give or take 1p in tax).

No point in blaming the government and saying they do it 'just because they can'. It's not a new thing and has affected every house purchase since, well, people started buying houses! I always used to calculate what it would be and then just haggle the price down to compensate for it.

But at least you're on the property ladder now! Enjoy the new home!

A

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By *isscheekychopsWoman
over a year ago

The land of grey peas and bacon

Oh how nice it would be to buy a home, good luck with everything OP

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By (user no longer on site)
over a year ago

Feel for you mate. I recently bought a house and had to pay about the same. I offered the asking price minus the duty.

Think of it as either . You are paying for somebodys heart op or a garden party at number 10 for a bunch of tax dodges.

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By *odareyouMan
over a year ago

not far from iceland,,,,,, tescos is nearer though :-) (near leeds)

The governments over the years have altered the rates altering thresholds etc, Changed a while ago to the tiers we have now... Maxs at 7% for houses over 2 million

Welcome to being a homeowner

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By (user no longer on site)
over a year ago

Yep I'm just about to be stung for £10k as well. We'd factored it into our saving but it's still a big pain. The annoying thing for me is that the thresholds haven't increased with rising house prices, so it now kicks in at a much lower level, relatively speaking, than it used to. And the way it works annoys me too, that the rate applies on the whole value not just the amount over the threshold.

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By *icecouple561Couple
Forum Mod
over a year ago

East Sussex

I'm amazed that stamp duty came as a surprise.

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By (user no longer on site)
over a year ago

Anna999 I would check to as a lot of north east is classed as a redevelopment area I bought a house in shields no stamp duty

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By (user no longer on site)
over a year ago


"Anna999 I would check to as a lot of north east is classed as a redevelopment area I bought a house in shields no stamp duty "

Yeah it's definitely not, but thanks anyway hun. Hardly anywhere in the city of Newcastle comes under those regulations

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