Lloyd90 Posted November 22, 2017 Report Share Posted November 22, 2017 Some good news for some in this years Bidget as stamp duty for first time buyers (upto £300,000) is to be scrapped. BBC reports state “from today” although I am hoping to confirm this. I am really hoping infact as some Maby know recently had our offer accepted on our first home with my Gf and this would save us a significant chunk of change I still don’t thibk she’ll let me spend it on a gun though!! She’s already thinking it’s paying for new carpets!! Any other big wins (or loses) for anyone? Quote Link to comment Share on other sites More sharing options...
TIGHTCHOKE Posted November 22, 2017 Report Share Posted November 22, 2017 Yes good news for many, interesting to see the number of people who have recently completed house purchases calling for it to be retrospective! Quote Link to comment Share on other sites More sharing options...
Gunman Posted November 22, 2017 Report Share Posted November 22, 2017 Why only first time buyers ?Why tax those investing in a house at all / Quote Link to comment Share on other sites More sharing options...
evolution380 Posted November 22, 2017 Report Share Posted November 22, 2017 (edited) First time buyers need this with how hard it is to get on the ladder thanks to the previous generation. We don't get the luxury of 110% mortgages so a small win for those buying their first home. Edited November 22, 2017 by evolution380 Quote Link to comment Share on other sites More sharing options...
Wb123 Posted November 22, 2017 Report Share Posted November 22, 2017 A nice touch, although whilst i am very much looking forward to having the geographical stability to make buying worthwhile this may not benefit me unless it is available for a good while. Quote Link to comment Share on other sites More sharing options...
12gauge82 Posted November 22, 2017 Report Share Posted November 22, 2017 Fantastic news for the young struggling to get a hold on the property ladder, well chuffed for you Lloyd Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted November 22, 2017 Author Report Share Posted November 22, 2017 8 minutes ago, 12gauge82 said: Fantastic news for the young struggling to get a hold on the property ladder, well chuffed for you Lloyd I was until my Gf has already spent all the money on carpets and other ****!! Lol Quote Link to comment Share on other sites More sharing options...
12gauge82 Posted November 22, 2017 Report Share Posted November 22, 2017 Quote Link to comment Share on other sites More sharing options...
TIGHTCHOKE Posted November 22, 2017 Report Share Posted November 22, 2017 53 minutes ago, 12gauge82 said: Fantastic news for the young struggling to get a hold on the property ladder, well chuffed for you Lloyd 44 minutes ago, Lloyd90 said: I was until my Gf has already spent all the money on carpets and other ****!! Lol Much better than walking around on bare concrete floors! Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted November 22, 2017 Author Report Share Posted November 22, 2017 59 minutes ago, TIGHTCHOKE said: Much better than walking around on bare concrete floors! It’s already got carpet - just needs a bloody good clean ? Quote Link to comment Share on other sites More sharing options...
TIGHTCHOKE Posted November 22, 2017 Report Share Posted November 22, 2017 Buy the lady some Shake and Vac! Quote Link to comment Share on other sites More sharing options...
grrclark Posted November 22, 2017 Report Share Posted November 22, 2017 1 hour ago, TIGHTCHOKE said: Much better than walking around on bare concrete floors! The voice of experience who has learned to appreciate the creature comforts and wisdom in domestic harmony. 2 minutes ago, Lloyd90 said: It’s already got carpet - just needs a bloody good clean ? The voice of devil may care youth who in 20 or 30 years will appreciate where the voice of experience above is coming from Who needs new carpets and nice curtains when you could have a new gun and an awesome sound system or even cash in the bank Quote Link to comment Share on other sites More sharing options...
Jaymo Posted November 22, 2017 Report Share Posted November 22, 2017 What makes a ‘First time buyer’? Does age come into it or say, no current mortgage but now applying for one? How is it policed..... what if you had a mortgage 10 years ago but not since, still the same struggles to get into the propert ladder...... Quote Link to comment Share on other sites More sharing options...
Wb123 Posted November 22, 2017 Report Share Posted November 22, 2017 1 minute ago, Jaymo said: What makes a ‘First time buyer’? Does age come into it or say, no current mortgage but now applying for one? How is it policed..... what if you had a mortgage 10 years ago but not since, still the same struggles to get into the propert ladder...... Some of the earlier schemes essentially defined it as never having bought a property before either in the uk or abroad. You also had to be buying as a primary residence. There was some form of exception for very short leaseholds i think. I dont know how they are defining it this time but imagine it wont be more generous. Quote Link to comment Share on other sites More sharing options...
ph5172 Posted November 22, 2017 Report Share Posted November 22, 2017 It doesnt apply unless both (if a joint purchase) are first time buyers, i heard some people chatting in the pub one said he scrimped and bought himself a bedsit and paid stamp duty as it was above the threshold by a few k, now him and his mrs are buying a house together and he had already made the call, as he had held a property before they wernt eligible (it also applies if you have ever bought a property in the rest of the world, how anyone would know about a house abroad is another thing) Quote Link to comment Share on other sites More sharing options...
ferguson_tom Posted November 22, 2017 Report Share Posted November 22, 2017 4 hours ago, evolution380 said: First time buyers need this with how hard it is to get on the ladder thanks to the previous generation. We don't get the luxury of 110% mortgages so a small win for those buying their first home. You think it's hard now? We bought our first house 7 years ago when it couldn't have been harder for first time buyers to get on the ladder. Interest rates were higher, required deposits were higher, banks didn't want to lend to anyone high risk but we managed to do it. Every generation has its issues. Quote Link to comment Share on other sites More sharing options...
evolution380 Posted November 22, 2017 Report Share Posted November 22, 2017 6 minutes ago, ferguson_tom said: You think it's hard now? We bought our first house 7 years ago when it couldn't have been harder for first time buyers to get on the ladder. Interest rates were higher, required deposits were higher, banks didn't want to lend to anyone high risk but we managed to do it. Every generation has its issues. I'd say that's within the same generation and actually moreso the major struggle I was on about. Not great now but I agree not as bad as then! Quote Link to comment Share on other sites More sharing options...
Jaymo Posted November 22, 2017 Report Share Posted November 22, 2017 44 minutes ago, ph5172 said: It doesnt apply unless both (if a joint purchase) are first time buyers, i heard some people chatting in the pub one said he scrimped and bought himself a bedsit and paid stamp duty as it was above the threshold by a few k, now him and his mrs are buying a house together and he had already made the call, as he had held a property before they wernt eligible (it also applies if you have ever bought a property in the rest of the world, how anyone would know about a house abroad is another thing) Did a quick look n see and my findings did seem to back this up. whilst I can understand that many FTB’s face the challenge of making their purchase/finance, also find it slightly biased towards others who also have scrimped to save the required amount. mr and Mrs jones buying their first place with joint disposable after the mortgage is paid or Mrs smith who has been unfortunately divorced and is left with two young children and Has to find the Stamp Duty—- hmmmmm Quote Link to comment Share on other sites More sharing options...
Pumpkin Posted November 22, 2017 Report Share Posted November 22, 2017 Utter smoke and mirrors garbage. Quote Link to comment Share on other sites More sharing options...
ph5172 Posted November 22, 2017 Report Share Posted November 22, 2017 13 minutes ago, Jaymo said: Did a quick look n see and my findings did seem to back this up. whilst I can understand that many FTB’s face the challenge of making their purchase/finance, also find it slightly biased towards others who also have scrimped to save the required amount. mr and Mrs jones buying their first place with joint disposable after the mortgage is paid or Mrs smith who has been unfortunately divorced and is left with two young children and Has to find the Stamp Duty—- hmmmmm Who counts as a first-time buyer? Anyone who hasn't owned a property before anywhere in the world, whether bought or inherited. You also won't qualify for the discounted rates if you're buying to let – even if it's your first purchase. The property you're buying needs to be used as your main residence. I'm a first-time buyer but I'm buying with someone who isn't. Do we get the lower rates? If you're a first-time buyer jointly purchasing a home with a non first-time buyer, sadly you WON'T qualify for the first-time buyer rates. You both need to be first-time buyers. Quote Link to comment Share on other sites More sharing options...
ferguson_tom Posted November 22, 2017 Report Share Posted November 22, 2017 21 minutes ago, evolution380 said: I'd say that's within the same generation and actually moreso the major struggle I was on about. Not great now but I agree not as bad as then! Yer sorry I should have separated the last line. I know my parents had major issues when interest rates went through the roof so it has never been easy to buy or be a house owner. I hear A lot of people complain how difficult it is but it's never been easy and for our generation it's beginning to get easier, people just have to get on with it. Quote Link to comment Share on other sites More sharing options...
Mice! Posted November 22, 2017 Report Share Posted November 22, 2017 5 hours ago, Lloyd90 said: I was until my Gf has already spent all the money on carpets and other ****!! Lol Think of it as a moving in present from the government. then see what pops up in the black Friday deals ? Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted November 22, 2017 Author Report Share Posted November 22, 2017 1 hour ago, ferguson_tom said: Yer sorry I should have separated the last line. I know my parents had major issues when interest rates went through the roof so it has never been easy to buy or be a house owner. I hear A lot of people complain how difficult it is but it's never been easy and for our generation it's beginning to get easier, people just have to get on with it. Thing is back then at least most would get a nice sized house. These new builds are all jammed in, tiny rooms and know people can’t go elsewhere as only they do the 5% deposit for first timers. We just count our blessings we don’t have to buy one. Quote Link to comment Share on other sites More sharing options...
ferguson_tom Posted November 23, 2017 Report Share Posted November 23, 2017 13 hours ago, Lloyd90 said: These new builds are all jammed in, tiny rooms and know people can’t go elsewhere as only they do the 5% deposit for first timers. This year mortgage companies have started offering 95% mortgages again on all houses and to anyone. Interest rates are higher but thats always been the case the higher the LTV the higher the interest rate. I know what you mean about the new builds though, i think its criminal the way house builders mislead people with the showhomes making all rooms just that bit bigger than in the standard built house. Also how can you say a house has X number of bedrooms if you cant even fit a full size single bed in one of the rooms! Quote Link to comment Share on other sites More sharing options...
Jaymo Posted November 23, 2017 Report Share Posted November 23, 2017 Next time you visit a show home take a tape measure and see how their beds are actually slightly smaller than norms! Quote Link to comment Share on other sites More sharing options...
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