Stamp Duty Holiday

[ChimpMaster]

Option 3 with a 6 week extension.

Though I would be surprised if it wasn't longer, say 3 - 6 months for example, given how slow the property market moves.

[BlueSharp]

There is an estimate that there are currently 400,000 sales in progress and that 160,000 of these will not hit the current deadline. If we still with the 31st March deadline then 100,000+ house sales could collapse in one day. House prices will drop, and the government won't get that much extra tax in.

Of course, anything could happen ..... isn't it fun waiting to see if you're going to have to pay an extra £15k for the sake of potentially 1 extra week?

Could being the key word. AFAIK that would be no different to any other stamp duty change. Prices will be renegotiated, funds for renovations diverted and some will sales will fall through.

[ChimpMaster]

We've put an offer in on a property and said that we will pay £x if we complete before any SDLT rise, or £(x - SLDT) if the completion is after any SDLT increase (expected in April).

We're cash buyers so it's up to the vendor and the solicitors how fast this moves. Not bothered either way really if we get it or not.

[Whorty]

We've put an offer in on a property and said that we will pay £x if we complete before any SDLT rise, or £(x - SLDT) if the completion is after any SDLT increase (expected in April).

We're cash buyers so it's up to the vendor and the solicitors how fast this moves. Not bothered either way really if we get it or not.

Similar to me. cash buyer, not having a survey, only a few key searches. All I (my solicitor) needs is the draft contract pack to review. Should be the easiest process, yet we are 6 working days in and the vendor's solicitor still hasn't issued the documents as they are swamped.

The people I'm buying off are buying a new build (as cash buyers) and my buyer is a cash buyer who is a week away from signing contracts. So our chain, which should be really easy, could fail because solicitors are up against it as everyone is working towards the same hard deadline.

No one wants to 'lose' £15k so if the government do nothing a lot of chains will collapse.

[BlueSharp]

We've put an offer in on a property and said that we will pay £x if we complete before any SDLT rise, or £(x - SLDT) if the completion is after any SDLT increase (expected in April).

We're cash buyers so it's up to the vendor and the solicitors how fast this moves. Not bothered either way really if we get it or not.

That's a nice approach and one I would think many are negotiating to do. If people want to move and can afford the stamp duty then they will still do so rather than loose out on their dream house.