Another Stamp duty freeze/cut?

[Designhelp]

Would like to know if anyone has any more info in this? Appreciate likely to be speculation at this point.

www.theguardian.com/politics/live/2022/sep/21/liz-truss-stamp-duty-cut-emergency-budget-uk-politics-live#comments

I’m sure it’s a permanent change not a holiday.

We completed two days ago yes

@Hummingbird33 way to rub it in for people who missed out by days.

If it makes anyone feel better, I’ll lose more from the recent, sharp rise in interest rates than I’m due to save on SDLT.

This. We completed not too long ago, but the interest rate rises since our mortgage was first approved many months ago would mean we could now borrow SUBSTANTIALLY less, much much more than the stamp duty cut would have have been, so not sure if people are all that better off now.

@Charl1991 I'm sorry if my good fortune upsets you. I wasn't aware that I couldn't share my happiness here without giving offence.

Thats right, so no panic this time. Last time people were "buying" at super low interest rates, can you imagine doing that back then and now coming off a 2 year fix? Dont be a Stamp Duty muppet, saving a few thousand in tax to take a 20 or 30 year loan at peak property prices in a rising rate environment is what stupid people do.

Switch on Bloomberg, marvel at what is going on in bond markets, relax and buy a cheaper property in the future.

Buy a cheaper property i.e. a cupboard?

OMFG. We completed today regardless. We have saved many ££££. I was going mad about the solicitor taking so long to exchange. Thank gawd he was useless!

Congrats Davros! 🥂

That's amazing . I was pulling my hair out last week but now I'm so happy

There are winners and losers like there always are with this sort of things
Congratulations to all the people who benefited from it and commiserations to the ones who just missed out.

Thanks for the good wishes. I know it could come across as greedy but we were just very lucky

What is your situation? Have seen you on a few threads recently, you seem to be relishing that some people might be struggling a bit as rates rise.

Lots of renters are paying a fair bit more than if they had a mortgage - but are unable to get on the mortgage ladder. So they are effectively paying off their landlord’s mortgage. Do you think they’re daft too? (Not a dig at renters, I think it’s awful that people get caught in this trap where they can’t secure a mortgage even though it’s proven they’re paying higher rent).

Congratulations. That’s great luck re timing - hope you are really happy in your new home. Hopefully that saving will go some way to cushioning the next year re rising costs in energy etc and give you a bit more peace of mind.

Furries wise words. It feels like being given a pile of money and the temptation is to think of things to spend it on. But we've just paid less, and we're very grateful, but it's probably best to be cautious in view of the cost of living rises