Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker.
Results 1 to 4 of 4

Thread: Talk about weeing on my chips!

  1. #1
    Resident Antagonist Benny Smyth's Avatar
    Join Date
    May 2014
    Location
    Worcestershire
    Age
    38
    Posts
    1,964

    Default Talk about weeing on my chips!

    So earlier this month, Mrs. B & I have had an offer accepted on our first house. It's very much the upper end of the budget but all very exciting because it ticks all of the boxes we are looking for in a home. Last week, a stroke of luck as The Chancellor abolished Stamp Duty for first time buyers for houses up to £300k and with ours falling under that category, result for us!

    So why am I getting this weird tangy taste on my plate of chips? Ah yes, that would be because my solicitor has informed me that because myself and my two brothers inherited my parent's house after they passed away, I have previously owned a property (albeit, for the duration of the sales process) and thus, am not a first time buyer.

    He giveth, and he taketh away...

  2. #2

    Join Date
    May 2011
    Location
    Chester-le-Street
    Posts
    4,292

    Default

    Quote Originally Posted by Benny Smyth View Post
    So earlier this month, Mrs. B & I have had an offer accepted on our first house. It's very much the upper end of the budget but all very exciting because it ticks all of the boxes we are looking for in a home. Last week, a stroke of luck as The Chancellor abolished Stamp Duty for first time buyers for houses up to £300k and with ours falling under that category, result for us!

    So why am I getting this weird tangy taste on my plate of chips? Ah yes, that would be because my solicitor has informed me that because myself and my two brothers inherited my parent's house after they passed away, I have previously owned a property (albeit, for the duration of the sales process) and thus, am not a first time buyer.

    He giveth, and he taketh away...
    I don't know if it would apply to stamp duty, but worth checking about.

    Only saying that as I have had 3 first time buyer mortgages (cheaper rate) and first time buyer deals (even 10% deposit paid on a new build) as each time I didn't have a mortgage in place so in essence was a first timer. Probably more stringent checks with stamp duty though.
    Semi-Retired Multi Award Winning DJ

    www.ultimateweddingdj.co.uk

  3. #3

    Join Date
    Jan 2009
    Location
    Bristol
    Age
    45
    Posts
    3,487

    Default

    Has your missus ever owned a house though...?
    http://www.bristoldiscohire.co.uk - Quality Disco and Equipment hire for Bristol & Bath
    Weddings, Birthday Parties, Kids Parties, School Disco's and more
    https://julianburr.co.uk - Wedding, Family, Portrait and Product Photography

  4. #4
    Resident Antagonist Benny Smyth's Avatar
    Join Date
    May 2014
    Location
    Worcestershire
    Age
    38
    Posts
    1,964

    Default

    Quote Originally Posted by DJ Jules View Post
    Has your missus ever owned a house though...?
    No, but there is a caveat to this: according to the relevant blurb, it says that both of us have to be first time buyers. My solicitor is on the case to see if there is anything that can be done but from what I've read there, my interpretation is that we'll have to pay it.

    I was over the moon when I heard the news last week, and then my solicitor sent me an exemption form to fill out this afternoon. Those it should refer to as first time owners, not first time buyers. Gits.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •