Reply to: Deferring/delaying SDLT as a cheap loan?

[SueEllen]

They do when they're trying to buy a house they can't afford.

Credit cards and loans will, of course, affect mortgage affordability.

You buy the house first then if you need to buy a car, because yours is soo broken it can't be repaired, you use a credit card/loan.

[chopper]

People have to use credit cards and loans to buy cars????

They do when they're trying to buy a house they can't afford.

Credit cards and loans will, of course, affect mortgage affordability.

[d000hg]

People have to use credit cards and loans to buy cars????

Some people choose to even if they don't need to.

[northernladuk]

I would take out the money and if you need to buy a car etc use a credit card/loan. .

People have to use credit cards and loans to buy cars????

[SueEllen]

We think this is 'the' house otherwise we wouldn't be looking until we had all the funds in place... it's pretty unique.

I would take out the money and if you need to buy a car etc use a credit card/loan.

I did wonder that too. Conveyancing quotes include the SDLT and I know they expect to pay the SDLT for you on completion but I do not know if they would countenance letting you be responsible or not.

I remember I had to pay everything including stamp duty to their client account BEFORE contracts where exchanged. They then screwed up by not informing the land registry until I noticed a few months later.

[d000hg]

Cheaper house? (£20k SDLT = £600k house)

Defer purchase until you actually have the money?.

We think this is 'the' house otherwise we wouldn't be looking until we had all the funds in place... it's pretty unique.

Would the solicitor go ahead with completion if he did not have the funds in place?

I did wonder that too. Conveyancing quotes include the SDLT and I know they expect to pay the SDLT for you on completion but I do not know if they would countenance letting you be responsible or not.

[fullyautomatix]

Would the solicitor go ahead with completion if he did not have the funds in place?

[chopper]

Cheaper house? (£20k SDLT = £600k house)

Defer purchase until you actually have the money?

I don't think your convenyancer will give you the option to not pay them the SDLT before completion.

[ChimpMaster]

Director's loan, surely?

[northernladuk]

Have a look at a p2p loan like Zopa?

[d000hg]

Have you asked your accountant?

About buying a house? That's for my financial advisor

Lowest loan rates I've seen at the moment are around 3%. Seen similar advertised for credit card transfers.

I was checking my accounts and noticed similar so barring issues maxing out credit(?) this seems the better route.

[SueEllen]

Lowest loan rates I've seen at the moment are around 3%. Seen similar advertised for credit card transfers.

[AtW]

That's my question... is deliberately paying late at the cost of the interest avoiding tax, or simply using the system legitimately? If you pay your corporation tax late you're not breaking the law, you're just paying late and are charged interest in a similar fashion.

Have you asked your accountant?

[d000hg]

Tax evasion surely?

That's my question... is deliberately paying late at the cost of the interest avoiding tax, or simply using the system legitimately? If you pay your corporation tax late you're not breaking the law, you're just paying late and are charged interest in a similar fashion.

Why don't you pay it on a credit card balance transfer or a personal loan which you can repay early???

This is the obvious answer but a)I've no idea if the loan rates are comparable b)I worry that I wouldn't get the loan if I already borrowed a maximal mortgage or the mortgage lender would offer less if I have existing loans.

It's a nicer way of doing it if it doesn't have such potential issues?

[MarillionFan]

I did find this: Struggling with stamp duty? You can delay it - AOL Money UK

But I'm not sure that is correct, you can file the paperwork late for a capped fee but I thought the interest would apply from the date you should have registered it, as well?

Why don't you pay it on a credit card balance transfer or a personal loan which you can repay early???