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Find financial and money saving discussions including debt and pension chat on our Money forum.

Money matters

Stamp duty - is it on the price of the house or the mortgage you take on it?

23 replies

oliveoil · 09/02/2006 12:45

I haven't ever had to deal with stamp duty before and am a bit peeved to say the least.

Also, anyone got any good websites with tips on moving house? I think aloha (?) had one which redirected all your bills etc.

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tiredemma · 09/02/2006 12:45

price of house

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littlemissbossy · 09/02/2006 12:46

price of the house, nothing to do with the mortgage

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oliveoil · 09/02/2006 12:48

thought so

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Wills · 09/02/2006 12:56

echo the others. Price of the house

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Lonelymum · 09/02/2006 12:58

Now there's an idea - set stamp duty by the size of your mortgage. Would still leave us as paupers, but would benefit loads of others. It is the most iniquitous tax there is. (Says she who has moved house frequently in the last 12 years).

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GDG · 09/02/2006 13:13

God, I wish it was on the mortgage, but no - it's the house price. It's adding a sizeable sum to our house purchase I can tell you!

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JoolsToo · 09/02/2006 13:14

stamp duty - daylight robbery

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tiredemma · 09/02/2006 13:16

what exactly do we pay stamp duty for? ( apart from lining GB's pockets of course) what is it for?

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NomDePlume · 09/02/2006 13:16

stamp duty is a KILLER, money for nothing. Really makes me

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oliveoil · 09/02/2006 13:18

I have only just realised that we will have to pay it, may sink our move.

Bollox.

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Lonelymum · 09/02/2006 13:18

Tiredemma, got it in one. It is just a meaningless tax which swells the coffers of the Chancellor.

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zippitippitoes · 09/02/2006 13:20

it also affects house prices around the arbitrary stamp duty levy points as no one wants to pay just over the threshold

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NomDePlume · 09/02/2006 13:21

That is so true, zippi.

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JoolsToo · 09/02/2006 13:24

just ask GDG!

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notasheep · 09/02/2006 13:27

Our postcode was in a deprived area so didnt have to pay any

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notasheep · 09/02/2006 13:28

Stamp duty probably pays for arms

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CoolTurkey · 09/02/2006 13:37

It jumps from 1% to 3% at £25001 and over, so less tax paid on 2 properties (of £25000 or less) than 1 expensive one.
His and hers?? Now there's an idea....

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ProfessorG · 09/02/2006 13:59

that's £250,001 CT

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fairyglo · 09/02/2006 16:51

We are taking out a mortgage solely to pay our stamp duty . How mad is that?

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CoolTurkey · 09/02/2006 17:28

Sorry Prof,

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notasheep · 09/02/2006 20:06

OMG-the house i am looking at is 320-so is that really £9600 to give to gordon!!!!!
Ill need a loan for that-isnt it madness,more tax to pay for............

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Jodee · 09/02/2006 20:14

Not to mention the lovely SDLT fee about £50 plus VAT; Land Registration fee £220; local search fee about £150; enviro search £39 - it ain't cheap this moving lark, is it.

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notasheep · 09/02/2006 20:20

I have recently sold,so only had one lot of expenses so it APPEARED cheaper!
Solicitor here is £1000 plus VAT to sell,

then will have to pay him same again to buy.