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seems that stamp duty is being abolished for properties under 250K in the new budget
so .... I'm just starting the process of buying a flat - so best case I would be exchanging contracts in 6 to 8 weeks.
Do I stand a hope in hell of benifiting from this? Anyone know how long budgets take to come into effect?
Thanks
from midnight tonight the new rules come into effect.
result - I deserve a break at the moment
1st time buyers only IIRC
yep only 1st time buyers, which is me!
🙂
hmmm really? Not so good then
I really need to catch a break 😥
Oh fudge... just buying a place for my inlaws, so were scuppered yet again, no breaks for Tinsy.. 😥
Define "first time buyers"
is it -
the first time your name has bee recorded by the land registry?
the first time you are recorded as sole owner by the land registry
when you are buying a property without owning a property (i.e. not selling an buying another - perhaps sold up and moved abroad or just rented)
something else entirely
i dunno but i tick all of the above nbt
so thats all good
Brilliant isn't it. I have a client who is due to complete next Wednesday - Mr D has just saved him £1550. Client asked me what I thought he should do with the money, to which I replied..."don't tell your wife" (he's not into mtbing or I would have said to get a new Turner Frame from Merlin).
My friend exchanged today, so was frantically looking around for info on whether it was due on exchange or completion. Seems it's on completion
Double post
But it'll soon be 5% on those over £1m...!
I know I am gutted, I will haev to find some extra cash 😉
Shame, we'll be completing on a house just below £250K in the next couple of days and an extra £2.5k would have been nice! It's the first house we've bought as a couple, does that count!? 🙂
it will probably only count on second homes for first time buyers 😉