Anyone else cutting it fine with Stamp Duty...?!

[Whattodo121]

Sold our house in October, found a house, got mortgage approved in early November, then our sale fell through. Managed to find another buyer by mid November. All seemed to be moving forward and then we’ve hit some paperwork delays now right prior to exchange - (someone lower down the chain requires another survey, obv they’re very busy so will take another week) and getting very nervous about meeting deadline as we’ll have to find another £15k if it doesn’t go ahead before 31st March. We will be able to ‘find’ the money, but am worried the chain will just collapse if we don’t hit the deadline. Anyone else in the same boat?!

@catwithflowers: I’m so sorry, what an awful,story! Do you think there is an actual reason (like job loss or something?)

Stressful day here ... everything has been SLOW with Covid, from mortgage to survey etc. Got told people I’m buying from wanted 1 math between exchange and completion, meanwhile still need last checks to be done for sale of my flat

Due to exchange tomorrow (touch wood) after offer accepted early November, think we are nearly there, I will be relieved when last things get done. All our solicitors advised not completing after 20th March as too tight so we are trying for 19th

In today's Times. Stamp Duty holiday extension announced 😱😱

Please say this is true 🙏🏻🙏🏻🙏🏻

www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwi-jObhioHvAhXAVBUIHRVhBe8QFjABegQIGBAD&url=https%3A%2F%2Fwww.thetimes.co.uk%2Farticle%2Fstamp-duty-holiday-will-be-extended-to-end-of-june-gc0qfrckz&usg=AOvVaw1mf2ykzyyWAFDsM5lk81do

Hmm link not working. Has anyone else read that Sunak is extending the deadline for completion until the end of June?

I've just read it will be the lead story in tomorrow's Times. I'm praying this isn't a hoax 🙈. Apparently the article is written by The Times political editor, Steven Swinford.

OMG THAT IS THE NEWS I NEED RIGHT NOW! Let that be the case!!

I can’t imagine that the times would get it wrong?!? But it’s behind a paywall so I can’t read the whole article...

@DespairingHomeowner We really have absolutely no idea. 🤷‍♀️ Nor does our solicitor. They were a bit flaky throughout the whole procedure and nothing had been straightforward but we finally thought we had ironed out most of the issues.

The good news is, less than a week later we viewed another house which we like even more, totally different to the first but we think we will be much happier there. We offered yesterday and are waiting to see what happens but we feel we are in with a decent chance!! Especially if this SDLT extension is true. It also means our buyers won't lose out which is very welcome news!

It’s got the times URL so trustworthy. Well that makes it all a bit less nerve wracking - sigh of relief!

@Whattodo121

OMG THAT IS THE NEWS I NEED RIGHT NOW! Let that be the case!!

I can’t imagine that the times would get it wrong?!? But it’s behind a paywall so I can’t read the whole article...

Me neither but I can't imagine this would be leaked a day ahead without being true?

@Catwithflowers we are in exactly the same position!
We learned just today that the tosser person at the top of the chain ( three up from us) has decided to withdraw his house from the sale.
We had a bad feeling about him, he seemed flaky, 'in no hurry to move' despite having having a sale agreed on his house over six months ago, then a longer target date for completion was announced, which we reluctantly accepted, but now he has pulled out entirely.
Meanwhile we sold our house several weeks ago and have moved into temp accommodation.
It will all cost us £££££. We have to look for another house with our price limit lowered by some £25k due to rental and storage costs, SDLT, another survey and further legal fees.

Just saw the Times article. We might be lucky.....
Meanwhile I hope the the top seller in our chain suffers from severe anal pruritis. For years.

@Tartyflette I'm so sorry to hear that. Just awful. 😟. I can only assume some people don't care about others at all.

@catwithflowers: I’m pleased to hear it’s working out for you

My sis lost out on a house because owners were made redundant... nothing you can do except they let her pay for a survey days before they pulled out, instead of asking her to hold fire

Hope this extension is true and will take pressure off a lot of transactions

@Tartyflette I’m sorry to hear about what’s happened to you as well - I just don’t understand these people who are content to watch other people lose thousands of pounds.... it’s so upsetting. Hopefully you’ll find something even nicer and all will work out for the best

@Tartyflette Urgh! That’s awful. What’s is wrong with people?! I am so sorry for you (and the numerous other people it has happen to). There needs to be penalties for people like that. I wish we had the Scottish system!

Fingers crossed and even better house appears on the market for you today.

I hope this extension is true. Even a couple of weeks would give us the breathing space we need. I’d still love to complete before 31 March though!

Agghhhhh. This news is a blessing and a curse. 🙈. Now our buyers have pulled out as they have found something they prefer and realise they can complete within the new time frame. Am feeling super stressed and really fed up today.

Our property is now back on the market and the good news is we have five viewings lined up over the next few days. The bad news is I have so much to clean and tidy away before tomorrow tea time. All the stuff we had cleared out of the garage and boxed up and dumped in various bedrooms waiting for charity shops to open again, another bedroom full of art work from the house we sold before Christmas, the conservatory full of piles of books the kids decided they wanted to keep but didn't actually take with them 😩😩

Nightmare @catwithflowers! I'm sure you'll find a buyer. They will look past a few boxes I'm sure.

I want to stick to the same time frame as pre-announcement and hoping our buyers will do the same. At least if we slip a couple of days it's not going to cost ££££

news.sky.com/story/amp/stamp-duty-holiday-to-be-extended-until-end-of-june-as-think-tank-calls-for-the-tax-to-be-scrapped-altogether-12227369?fbclid=IwAR28WL33WRdOzImY80jPTuqOrmxA1ymqqEldJb-Skt6cFI-mBFfEr4QDA-s

Yes it is being reported in the Law Society Gazette that it will be announced that it is being extended to the 30 June.

www.lawgazette.co.uk/news/rishi-sunak-to-extend-stamp-duty-holiday/5107549.article

Don't kill yourself Catwithflowers for the viewings, the buying market is brutal atm and I'm sure anyone trying to buy right now will be understanding of your circumstances if you're open and honest. If they're anything like I was they'll just be glad they've managed to get a viewing before it's sold and won't care about boxes. It even makes you look keen to get moving - only a good thing!

@catwithflowers - I agree with PP, it’s a bonus. If I’m buying and you look packed up and ready to go it makes me breathe easy!

It’s a horrible thing you’ve been through but with a broken chain at least I know that you’ve done some of your process and are personally committed to moving (or you’d have just given up)

@DespairingHomeowner @floofycroissant ❤️. Thank you! Let's see what the next few days bring!

Exciting news! We have sold a house and bought a house today 😂😂. After our buyers pulling out last Wednesday, the house went straight back on the market, loads of viewings and a really good offer, better than the one we lost, has been accepted.

And after our flaky sellers took their house off the market weeks before exchange, a few days ago we viewed a different house which we love, offered this morning and within hours our offer was accepted!!! No onward chain!

So all in all a great, if rather expensive day 🎉😂

@catwithflowers: what a day you’ve had, very pleased for you!

@catwithflowers

Exciting news! We have sold a house and bought a house today 😂😂. After our buyers pulling out last Wednesday, the house went straight back on the market, loads of viewings and a really good offer, better than the one we lost, has been accepted.

And after our flaky sellers took their house off the market weeks before exchange, a few days ago we viewed a different house which we love, offered this morning and within hours our offer was accepted!!! No onward chain!

So all in all a great, if rather expensive day 🎉😂

Whoop! Excellent news! Now come and rub some of your good luck off on me!