Labour makes first-time buyer stamp duty pledge

[Martin@AS Financial]

Interesting article:

Labour makes first-time buyer stamp duty pledge - Professional Adviser IFAonline

[OwlHoot]

The Tories, and UKIP come to that, really missed a trick by not anticipating this offer and making it first

[d000hg]

I saw this. Since there's no SD up to 250k anyway, it seems a bit pointless. First time buyers shouldn't be spending 300k anyway!

Updating SD to apply on the price above the threshold, not the whole price once you exceed the threshold, is far more sensible.

[DimPrawn]

Government Orders Everyone To Move House | The Daily Mash

7 years on and nothing has changed, UK economy IS just a long running house price bubble....

[TykeMerc]

I saw this. Since there's no SD up to 250k anyway, it seems a bit pointless. First time buyers shouldn't be spending 300k anyway!

Updating SD to apply on the price above the threshold, not the whole price once you exceed the threshold, is far more sensible.

You sure there's no Stamp Duty on the 1st 250k?

From https://www.gov.uk/stamp-duty-land-tax-rates it appears there is:-

Rates from 4 December 2014
Previously, SDLT was charged at a single rate for the entire price of a property. From 4 December, SDLT is charged at increasing rates for each portion of the price.

You can choose to pay SDLT at the old or the new rates if you exchanged contracts on or before 3 December 2014, and completed on 4 December or later.

Residential properties
You’ll pay:

nothing on the first £125,000 of the property price
2% on the next £125,000
5% on the next £675,000
10% on the next £575,000
12% on the rest (above £1.5 million)

[d000hg]

You sure there's no Stamp Duty on the 1st 250k?

From https://www.gov.uk/stamp-duty-land-tax-rates it appears there is:-

Rates from 4 December 2014

About bloody time! Thanks for the correction, I either missed or forgot that.

[fullyautomatix]

About bloody time! Thanks for the correction, I either missed or forgot that.

Or maybe you are just clueless!

[d000hg]

Or maybe you are just clueless!

It happened less than 6 months ago. Since you didn't take the chance to jump in and insult me with the information, I imagine you were equally ignorant, but too insecure to ever risk being found out.

[VectraMan]

I don't know if the Beeb has got it wrong or Labour has but:

The centrepiece of Labour's plan is a pledge to give first-time buyers a stamp duty "holiday" on purchases of under 300,000, which it says will save them an average of £5,000.

£5000 is only if it's a £300K house. On a £200K house, it's £1500, and on a £150K house it's only £500. Surely the "average" first time buyer, outside of London at least, is more looking at the the £150K-£200K range?

[TestMangler]

1. Labour
2. Pledge
3. LOL