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General Discussion

STAMP DUTY

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12
wondering
wondering
02 Sep 2008 10:19

Moved to £175,000. That's another bit of good news Viaduct will NOT be happy with!
http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/18uh.stm

User 4549
User 4549
02 Sep 2008 10:33

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/18uh.stm

Try the above link and see if your sarcasm is justified

Viaduct
Viaduct
02 Sep 2008 10:39

Wondering, like Joey Deacon, are unable to look at the facts.

Stamp duty does not mean a thing if you haven't got the money to put down on a deposit.
And let me say this," If you are foolish enough to put down a deposit on the sky-high prices that are out there, and house prices continue to fall," then who's fault will that be that you have found yourself in NEGATIVE EQUITY?

Viaduct
Viaduct
02 Sep 2008 10:54


And it has just been announced, (officially) that only 50,000 people will benefit from this STAMP DUTY fiasco.
And of those 50,000 should they be lucky enough, will still need to find a sizable deposit.
And unless you cannot work out a deposit, here it is:
For a 20% deposit on a £125,000 property, you need to find £25,000 plus the fees that go with it.
For A property costing £175,000 you will need to find £35,000 deposit plus fees to go with it.
The fees incidently can be anything, that is why I haven't put a figure on it.

Joey Deacon
Joey Deacon
02 Sep 2008 11:07

It's still good news though, isn't it.

Joey Deacon
Joey Deacon
02 Sep 2008 11:12

User 4549 wrote in reply to wondering:
http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/18uh.stm

Try the above link and see if your sarcasm is justified

I've looked at that link, and it says that Teignbridge house prices are coming down. More good news that I'm sure that Viaduct would approve of. Thanks for sharing it with us...

Viaduct
Viaduct
02 Sep 2008 13:50

Of course I approve JD! and why shouldn't I?

Viaduct
Viaduct
02 Sep 2008 17:22


Now that I have had time to look further into the STAMP DUTY Fiasco. I consider it to be wrong at this stage of this economic downturn which could be compared to the Japanese economic downturn, which started some 60 yrs ago, and they are still trying to crawl out of it.

It is no good saying you own your own house if you are still paying someone else for it. It is only yours when you have the official copy of the Title Deeds in your hand.

Encouraging first time buyers to buy a house when house prices are in steep decline, is in know way the right thing to be doing.

After a life time, many people are still paying for the house they live in.

Viaduct
Viaduct
02 Sep 2008 18:46


Just received this from the Prime Ministers office.

September 2, 2008
Housing Support Package
No-one in this country who works hard and plays by the rules should be left alone to bear the impact of the current global economic downturn, and I am determined to see the government do everything we can to help British families weather these difficult times.

I understand what it means to see people struggling to get mortgages or homeowners who, through no fault of their own, suddenly find themselves unable to keep up with their repayments. And it's not just families who are finding it tough but businesses as well, with house-builders now experiencing difficult conditions after years of extremely favourable circumstances.

So to address these issues, the government's new £1 billion housing package will give first-time buyers a leg-up onto the housing ladder, help homeowners in difficulty and support the UK's housebuilding industry.

First-time buyers are one of the groups hit hardest by the credit crunch and are crucial to driving the wider housing market. They would usually benefit from falling prices, but a combination of the higher cost of borrowing, bigger deposit requirements and weakening consumer confidence means this has not happened.

To do everything we can to support them, there will be a one-year stamp duty holiday for all properties sold for up to £175,000 - helping to restore market confidence and giving first-time buyers the extra help they need. And, alongside this, 10,000 more first-time buyers will benefit from a new £300 million shared equity scheme called "Homebuy Direct".

The current housing market difficulties are also leading to increased repossessions, so we are introducing a new £200 million mortgage rescue scheme that will help thousands of vulnerable families to stay in their homes.

And to do more to encourage social rented housing, we are bringing forward £400 million of government spending to deliver up to 5500 new social rented homes over the next 18 months.

Taken together, I am confident these measures and the other new steps we have announced will help create the best possible environment for the housing market to come through these challenging times - and I invite you to read more about our proposals on the Number10 website.

Gordon Brown

We shall see!

Viaduct
Viaduct
02 Sep 2008 19:28


This credit card that this government is using, will be a burden on the younger generation for years to came. Now that is not a good thing, is it JD?

The Truth
The Truth
02 Sep 2008 19:31

Just received this from the Prime Minister's office.

Mentalist!

User 4549
User 4549
02 Sep 2008 19:47

Bit like you and Lord Seb Coe

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