Topic: Stamp Duty

[cambourne7]

Hi Guys,

There is going to be an anouncement in the next few min by the government about stamp duty.

Louise

[cambourne7]

They have increased the threshold for one year to £175k

[Old bird]

I suppose that is a good thing - but I cannot imagine first time buyers buying yet with the property prices dropping still.  They would lose any benefit they get from not paying stamp duty with the property they are buying still dropping in price!

Of course the people that will benefit are the investment people who are picking up repossessions etc who, in theory, could well afford to pay the stamp duty!

Ah Well!

Old Bird

 ;)

[Ishard]

Actually Old Bird OH doesnt really want the stamp duty to go up as it will kick start the housing market taken alongside the new first time mortgages out there now. It wont help the second time buyers at all.

Yes we renovate houses and do buy repos.

Trust me we will always get repo houses as some people are 'fur coat no draws' and always buy above their means.

I know a family who was given a mortgage for 125% of their property price, the market then dropped and even if they managed to sell their house they would still owe 25%. Where is the sense in that?