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Original poster

Anyone else just paid a whacking load of stamp duty!!!

42 replies

Thekindyoufindinasecondhand · 07/07/2020 06:14

Purchased our house 8 days ago. It was all rsther stressful (as these things often are!) as we were meant to move in March, but due to obvious reasons we couldn't. Finally we are all moved in hurrah! Then yesterday heard the news out we may of paid almost 8k that may not be necessary soon.....to say I'm a bit miffed is an understatement.

(Just incase anyone comes along and says these things happen etc, it's happened before I do realise that, just looking to commiserate with anyone else who is recently 8k lighter for what could be no reason and wants a moan Wink)

OP posts:
StylishMummy · 07/07/2020 06:51

£7k paid today Shock

dinosaursaidgeorge · 07/07/2020 06:52

Not yet, but we will probably have to as expecting to complete well before October and can't delay as would definitely lose the property. We also bought our first home a few months before another budget statement announcing stamp duty exemption for first time buyers. So will have missed out twice. Angry

The only silver lining I can see is that I think it will push up prices and demand so at least the stamp duty is cheaper than a 5% price uplift in the area.

notheragain4 · 07/07/2020 16:32

That's incredibly frustrating. I don't know many people who wouldn't be annoyed by that! I remember being annoyed at missing out on the first time buyer's stamp duty holiday or whatever you want to call it, that was by months rather than weeks but was still argh!!

gingerninja99 · 07/07/2020 16:39

Just over £11k last Friday Sad

NeverSurrender · 07/07/2020 17:45

This happened to us last time it was scrapped for first time buyers- we had just paid 1300! I thought that was a lot but 😮 at some of the amounts!

Callmesausage · 07/07/2020 17:47

Yep, about £7k six weeks ago

Rookie93 · 07/07/2020 23:01

Yup, exchanged on Monday and complete this Friday, c'est la vie! Next time it will be something else we'll fall foul of.

Original poster
Thekindyoufindinasecondhand · 07/07/2020 23:03

Especially a kick in the teeth as baby is due in 3 weeks....could of really done with an extra 8k....Angry

OP posts:
googledontknow · 08/07/2020 12:01

To be honest I'm not sure if people buying in the stamp duty holiday will save that much, I think house prices will rise to compensate.

jimmyjammy001 · 08/07/2020 12:41

Don't worry the price of your house will have rised by what you have paid in stamp duty as there will be more people with more money to spend competing with each other

waterjungle · 08/07/2020 12:49

18k 🤢 To top it off the mortgage is in my husbands name only and it was a penalty additional stamp duty as I have a flat. He is a first time buyer.
We were told originally that we didn't have to pay it and lost out on a house because if it.
I love our new house but I feel sick when I think of that money :(

SissySpacekAteMyHamster · 08/07/2020 12:56

I think we paid £26000 about 5 years ago. Absolute sickener. House needed tonnes of work, that money would've helped a lot!

Oopsiedaisyy · 08/07/2020 12:58

I'm hoping it will go through, have an agreed offer on a house I'm buying, and they will save on stamp duty on their purchase so win win.

We got done here, first house in the UK but had to admit had owned overseas so had to pay :(

LuckyScot · 08/07/2020 13:24

12K YESTERDAY. And we didn't get in the property until 7PM as the vendors had not finished packing. I feel like I've missed out by mere hours!

Benhew · 08/07/2020 13:29

I have just emailed my MP and Rishi to say this should have been backdated to when the housing market reopened. We paid £9k a few weeks ago and didn't renegotiate prices trying to keep the chain going. I am very angry and wish I had pulled out as the whole process and delay by lockdown was such a nightmare!

notheragain4 · 08/07/2020 13:45

@Benhew although I understand it must be incredibly upsetting, it's being introduced to get the market going (or keep it going) they're not going to be interested in transactions that have taken place, that's not the people they're trying to entice. Those who happened to be moving and are moving from now have gotten lucky, but the audience is those who were nervous about moving, weren't sure whether to or concerned about costs: those are the people they are appealing to, people who wouldn't have moved but will now consider it. It wouldn't be worth the tax payer's money refunding those who managed to complete, what does it achieve it's mission accomplished, not to mention the administrative costs in doing so.

mumofamenagerie · 08/07/2020 16:26

£14k three weeks ago! Ah well, we've paid it so nothing we can do anyway!

2catsand2kids · 08/07/2020 19:32

@Rookie93 you will benefit as it’s with immediate effect so you will no longer have to pay the stamp duty if you’re completing on Friday even if you’ve already exchanged.

Vinniepolis · 08/07/2020 20:14

£7.5k a week ago 🤢. I’m trying not to think of everything we could have used that money for, especially as our car started acting up today... 🙄

SmiledWithTheRisingSun · 08/07/2020 20:14

Don't worry op prices will go up to adjust 🤷🏻‍♀️

SunflowerOwl · 09/07/2020 08:41

Not this time around but we missed the stamp duty cut for FTBs in 2017 by a hair. I remember being soo annoyed as loads of my friends were celebrating and we'd just paid what felt like a fortune.

whenwillthemadnessend · 09/07/2020 09:00

It's a pisser. We moved in in March so not very recently but I'm trying to be pragmatic We got the house we love. We plan to stay till old age so over time it's worth it.

Would have paid for my new kitchen tho. Confused

Skyisbluetoday · 09/07/2020 09:07

We are due to exchange next week, so are hugely benefiting if all goes as planned, but I totally get how you would feel. Those are huge sums of money that make an enormous difference to most people's lives. I 'd feel absolutely sick if it happened to me. Don't let it affect the way you feel about your new home. 💐

Skyisbluetoday · 09/07/2020 09:07

Sorry, that sounds really gloaty and its not meant to be.

Hippocampe · 09/07/2020 09:14

There is an online petition to backdate the stamp duty holiday on change.org. I have friends who recently completed, (post lockdown) and one has now been made redundant! They could desperately use the 18k they paid in stamp duty costs. Seems so unfair. I know there needs to be a cut off point, but I think backdating it to house sales that took place when they restarted the housing market would have been the fairest approach for everyone affected by the current situation.