Discussion
Suspect I know the answer, but if say I was buying a property for £320,000 would I be charged 3pc on the whole lot or just over 250,000? I've just been looking into this and suspect it may put the kybosh on the whole affair. Bloody nightmare. Are any of the parties going to lower it?
Nevin said:
Busamav said:
The lot .
Yup, the whole lot. Its a ludicrous system which creates artificial bands in house pricing and makes it difficult to sell things which are just above any particular band because it makes such a difference to the total costs involved.Thanks for that. Gah! It's an extra 10 grand I hadn't forseen at all, does seem an unfair system- Although I would say that. I would find a graduated system better, like income tax- IE 1pc on the first 250k then 3pc afterwards.
I think it's another of these misguided envy things, really [/soapbox]. The upper bands seem set at what one would previously have considered higher-end property, however my partner and I, whilst doing well, aren't exactly fat cats- We've worked hard and want to buy a reasonable family home. I mean, we are only talking about a 3bed semi in a reasonable area here!
Will have to downgrade our search accordingly. Thanks Winky!
I think it's another of these misguided envy things, really [/soapbox]. The upper bands seem set at what one would previously have considered higher-end property, however my partner and I, whilst doing well, aren't exactly fat cats- We've worked hard and want to buy a reasonable family home. I mean, we are only talking about a 3bed semi in a reasonable area here!
Will have to downgrade our search accordingly. Thanks Winky!
carreauchompeur said:
Thanks for that. Gah! It's an extra 10 grand I hadn't forseen at all, does seem an unfair system- Although I would say that. I would find a graduated system better, like income tax- IE 1pc on the first 250k then 3pc afterwards.
I think it's another of these misguided envy things, really [/soapbox]. The upper bands seem set at what one would previously have considered higher-end property, however my partner and I, whilst doing well, aren't exactly fat cats- We've worked hard and want to buy a reasonable family home. I mean, we are only talking about a 3bed semi in a reasonable area here!
Will have to downgrade our search accordingly. Thanks Winky!
Unfortunately, as its £320k there is nothing you can do.I think it's another of these misguided envy things, really [/soapbox]. The upper bands seem set at what one would previously have considered higher-end property, however my partner and I, whilst doing well, aren't exactly fat cats- We've worked hard and want to buy a reasonable family home. I mean, we are only talking about a 3bed semi in a reasonable area here!
Will have to downgrade our search accordingly. Thanks Winky!
Sellers that want £260k will sell for £249,999 and then sell fixtures etc for £10k. As long as the fixtures genuinely come to that kind of price it isn't a problem.
We've been looking for a new place, could stretch to about £275k, but would cost a big chunk more. But there is no houses at that price, so we are stuck at buying a £250k or £300k house. nothing inbetween.
illmonkey said:
carreauchompeur said:
Thanks for that. Gah! It's an extra 10 grand I hadn't forseen at all, does seem an unfair system- Although I would say that. I would find a graduated system better, like income tax- IE 1pc on the first 250k then 3pc afterwards.
I think it's another of these misguided envy things, really [/soapbox]. The upper bands seem set at what one would previously have considered higher-end property, however my partner and I, whilst doing well, aren't exactly fat cats- We've worked hard and want to buy a reasonable family home. I mean, we are only talking about a 3bed semi in a reasonable area here!
Will have to downgrade our search accordingly. Thanks Winky!
Unfortunately, as its £320k there is nothing you can do.I think it's another of these misguided envy things, really [/soapbox]. The upper bands seem set at what one would previously have considered higher-end property, however my partner and I, whilst doing well, aren't exactly fat cats- We've worked hard and want to buy a reasonable family home. I mean, we are only talking about a 3bed semi in a reasonable area here!
Will have to downgrade our search accordingly. Thanks Winky!
Sellers that want £260k will sell for £249,999 and then sell fixtures etc for £10k. As long as the fixtures genuinely come to that kind of price it isn't a problem.
We've been looking for a new place, could stretch to about £275k, but would cost a big chunk more. But there is no houses at that price, so we are stuck at buying a £250k or £300k house. nothing inbetween.
carreauchompeur said:
I would say that. I would find a graduated system better, like income tax- IE 1pc on the first 250k then 3pc afterwards.
That does seem to be the sensible thing to do , but then we are talking common sense .2 years ago we got stung big time at the top rate , before that experience I had thought the rate just increased at each set stage .
With the politicians all talking about fairer taxes I think this is one to look at as how can it be fair to charge 1% on the whole £150k when it's free up to £125k? If you buy a house at £150k it would be fair if you paid duty only on the £25k above the free threshold.
If they do anything I hope they do it quickly
ETA petition http://petitions.number10.gov.uk/StampDutyScale/ I expect it will make f
k all difference though
If they do anything I hope they do it quickly
ETA petition http://petitions.number10.gov.uk/StampDutyScale/ I expect it will make f
k all difference thoughEdited by Mr E Driver on Wednesday 5th May 14:58
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