To think we won’t make stamp duty cut off..

[Ccoffee217]

And will have to pay £6,750 from July 1st.

Offer accepted on our house and bourse were purchasing Feb 8th, literally jumped for joy when stamp duty hol got extended!
But since then a flat at the bottom of our chain lost it’s buyers, apparently now has new buyers who’s solicitor is ‘aware of chain above and won’t conduct searches etc to try and push through in time’ - likeliness this will happen by end of next month? Rest of chain will be ready by the as close now.
Not sure whether to get my hopes up or not!?

That should say house not boarse!

Were the searches back from the original buyers of the flat that have now pulled outlets? The new buyers purchase the searches from them, they'd need their solicitor to contact theirs, that way you eliminate the wait for searches at least.

But mortgage offers, enquiries, etc still need finalising of course - I wouldn't be too hopeful myself.

*out not outlets

Offers accepted last year, chain completed in early January. Supposed to complete by the first stamp duty deadline in March and we've not completed yet (though we have exchanged so the date is set). Short chain of 4, should have been straightforward. We budgeted for stamp duty so saw not paying as a bonus "nice to have", can you afford it? If not I think you need to let the chain know.

Posted too soon. It's doable but I'd prepare to pay it if you can afford it. Hopefully the rest of the chain will be able to too.

Yes we can afford it as I was lucky to have a redundancy pay out (and got a new job straight away). Also we are buying the most expensive property in the chain (actually not that expensive but still!) and apparently the next one down would pay £2500 and are okay with that. It’s just massively annoying and I don’t know how I’ll get over the rage of it being a date and luck thing. We could do with the money to kit the place out a bit better. But I think you’re right to prepare for it.. life can be annoying sometimes can’t it!? X

Yep, super annoying! I'll be 34 weeks pregnant when we finally move in. We thought we'd allowed plenty of time, how wrong we were

PurBal sorry to hear this! I know how you feel. I think extending it just delayed the issues. I can’t imagine what all the solicitors will be doing the evening of June 30th to try and satisfy eager buyers who can’t afford stamp duty. It’ll be a relief when the holiday is over probably!

I think you have to think of the stamp duty holiday as a bonus. Any other timr you'd have to pay the full whack. Sure a few extra thousands in your pocket rather than the government is great (I stand to lose £12,500), but when I thought about moving two years ago I expected to pay.
What would be annoying is completing a week or two after the holiday!

Our vendors were set for June and lost their buyer. We stepped in and have high hopes of not making it - obviously! It would annoy me if it was anything earlier than mid July 🤣

So true, it would be best to complete end of July now. I guess the way to look at it is “this is what is cost to get me my house” rather than thinking about what we could’ve spent it on 🙄