I moved house in summer 2020 and was lucky enough to benefit from the stamp duty holiday, saving £15k (the purchase was well under way before the announcement).
When the first lockdown was lifted...
Type: Posts; User: thestore
I moved house in summer 2020 and was lucky enough to benefit from the stamp duty holiday, saving £15k (the purchase was well under way before the announcement).
When the first lockdown was lifted...
You could argue that prices are artificially low in general due to the stamp duty tax.
I get the need for equity, but it also makes their next purchase even more out of reach.
I just bought a house in London in August (after trying to buy/sell for a year). For me if prices dropped...
Punchy especially based on their valuation, surprised they get business. It’s 1% around here based on sale price
Wow 20% off is a good discount! I’m skeptical about Zoopla values based on my recent sale and hopeful purchase but that’s still a great saving. In my experience the agents round here overvalue by...
Out of interest do you know what % they charge?
I listed my house in July 2019 and was quite keen to sell and move locations. After 6 weeks of no offers I reduced asking my ~3.2%
I recovered an offer a bit lower by some time wasters in...
https://www.gov.uk/guidance/stamp-duty-land-tax-temporary-reduced-rates
Looks like it will affect all properties, even those over £500k. I’m quite surprised at this policy, but it is good timing...
I agree with a lot of what you have said, although one could argue that removing a tax that distorts the market is ‘letting market forces sort it out’.
Yes I think for it really to have an affect they will need to encourage movement in all rungs of the market. We will have to see..
I think you are probably right, although it will distort the market around the £500k mark like before when at the £250k mark in the old system. Keeping my fingers crossed just in case.
Potential stamp duty holiday announced tomorrow:
https://www.bbc.co.uk/news/business-53319433
If it comes into affect straight away, and if it affects property prices over £500k (I.e 0% up to...
Thanks for the response. Hopefully lenders relax a bit as lockdown is eased.
Out of interest how have you concluded you can’t borrow as much? I have a mortgage in principal from April and I haven’t re-applied since. The online calculators on some lenders sites don’t show any...
Agents are always positive! But based on my property search it strangely would seem like a good time to list the property.
How different in value are the two properties? Given the situation is out of your control, unless you can still ‘keep it under offer’ without spending money on legal fees while they work things out...
Have got tried using home.co.uk? Once I have seen something on Rightmove I will find it on home.co.uk where you can see how long it’s been listed for including a price history.
I too haven’t...
I spoke to another friend of joins looking to buy in the same boat, again said they would pay the current value for the right house and ride it out as they expect to own it for 5+ years.
I’m...
An update from me and from what I have seen happening. My buyer seems to be keen to proceed at the price agreed pre-corona price.
I viewed someone on Saturday which had just come back on (fell...
I’m not sure how many lenders do it, was a surprise to me too. It’s perfect for me though as ~50% of my income is bonus based so nice to have the certainty of lower payments but ability to overpay.
It all depends on the lender. My offer in principle is with First Direct, it is a 40 year mortgage which assumes I retire in my 70s. I am looking at a 5 year fixed with unlimited overpayments, so my...
I understand that property is an ‘asset’ but it’s also a home. Wanting to own your own home and not wanting to buy just before a recession or fall in prices isn’t an unfair position. I have said...
I don’t think anyone is suggesting they will fall for the length of a typical mortgage, however no one wants to be in negativity equity, even if it’s temporarily.
I think that’s the nature of the market. When valuing, no agent is going to suggest a figure even 5% below the ‘pre-Covid’ amount because they’ll be scared the vendor will have had a higher valuation...
I have certainly see quite a few new listings from standard agents in the last week in the area I'm looking (London). I'm due to exchange on my current place in the next couple of weeks, if something...