tokyomb
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I don’t think you do miss the 3% additional charge, even if the property is below the exemption level for ‘regular SDLT’.They would only be £125k max houses though David so I should be able to miss that.
I don’t think you do miss the 3% additional charge, even if the property is below the exemption level for ‘regular SDLT’.They would only be £125k max houses though David so I should be able to miss that.
Any financial advisors on here ?
That's right. You pay 3% below £125K and then the normal rate plus 3% above it.I don’t think you do miss the 3% additional charge, even if the property is below the exemption level for ‘regular SDLT’.
I am a little conservative with mortgages.
I have a couple of buy to let but only small mortgages - something inside me tell me I should remortgage and buy another as the capital gain in my area continues to outstrip any other investment.
What to do........ what to do...........
Lol - I have fours cars already !That's right. You pay 3% below £125K and then the normal rate plus 3% above it.
My closest neighbour has just had his house sale fall through as buyer pulled at. Sold for £2.15m (mine is worth nothing like this btw b4 you ask!) so maybe he pulled out when he discovered the Stamp Duty would be 300k!Don't forget about the govt's latest SDLT wheeze - an extra 3% for second homes in addition to the usual rates.
My closest neighbour has just had his house sale fall through as buyer pulled at. Sold for £2.15m (mine is worth nothing like this btw b4 you ask!) so maybe he pulled out when he discovered the Stamp Duty would be 300k!
Say that to RBS and their shareholders. Their American sub-prime adventure didn’t work out quite so well! (For any of us.)You cant go wrong with bricks and mortar
My closest neighbour has just had his house sale fall through as buyer pulled at. Sold for £2.15m (mine is worth nothing like this btw b4 you ask!) so maybe he pulled out when he discovered the Stamp Duty would be 300k!
Say that to RBS and their shareholders. Their American sub-prime adventure didn’t work out quite so well! (For any of us.)
Unless it was a second home it would be a mere £165K for a £2.1m house. The tax is incremental in bands and anything over £1.5m is 12% SDLT.I've no idea if that was the reason. Likely not but begs the question of why anyone would move when SDLT is 300k on a house like this. No wonder there is a lack of fluidity in the housing market.
Say that to RBS and their shareholders. Their American sub-prime adventure didn’t work out quite so well! (For any of us.)
Well subprime wasn’t so much abt the bet on a bet on a bet... but rather an amalgamation of thousands of mortgages with subprime rating (people with bad/no credit offered mortgages they couldn’t afford) and slicing them up for sales to other financial institutions that would do do the same and advertise that as investment grade (safe investment ) and that would go on and on. To the point when all this consolidation/slicing/stacking process of “dirty becomes clean mortgages” would be so opaque that no financial institution could actually tell what it is that they owned.To be fair, RBS and their US counterparts Fannie Mae and Freddie Mac, had got to the point where they were betting on bets related to bets that were related to bets that were based, loosely, on what was expected to happen in the US / global property. I thought most of the serious money was lost on deriviatives, futures and swaps, rather than on loans that were physically secured on real bricks and mortar (or plywood and polyester if talking about US homes!)
Well I have learnt something. I thought it was anything over that price. So on £110,000 house I pay £3300 not out of this world but still p1sses you off when you know the goverment will just squander it!I don’t think you do miss the 3% additional charge, even if the property is below the exemption level for ‘regular SDLT’.