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Stamp Duty


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#1 rachel

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Posted 09 January 2005 - 01:11 PM

I remember someone posted a while ago about how some properties in this area are exempt from stamp duty, and there was a website where you could have a look? I have tried searching the archives but I keep getting an error message.

Any help gratefully received! This flat buying business is driving us nuts already!

Rachel x

#2 James

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Posted 09 January 2005 - 01:50 PM

Disadvantaged Areas Stamp Duty Exemption
http://www.inlandrev...sadvantaged.htm

The wards covered include:

Bromley: Anerley, Penge

Croydon: Fieldway, New Addington

Lambeth: Angell, Vassall, Gipsy Hill, Larkhall, Bishop's, Stockwell, Ferndale, St. Martin's, Tulse Hill, Prince's, Oval, Knight's Hill, Town Hall

Southwark: Friary, Consort, Liddle, Brunswick, Rotherhithe, Chaucer, Barset, The Lane, Burgess, St. Giles, Cathedral, Browning, Faraday, Abbey, Newington, Waverley, Bellenden, Bricklayers

Lewisham: Evelyn, Grinling Gibbons, Bellingham, Downham, Churchdown, Whitefoot, Marlowe, Grove Park, Rushey Green, Sydenham West, Drake, Hither Green

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#3 Guest_Liliput 2004_*

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Posted 09 January 2005 - 01:55 PM

I've just bought a flat in Sydenham Hill and we were exempt....a very nice last minute surprise from our solicitor...

#4 rachel

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Posted 09 January 2005 - 04:04 PM

Thank you James and Liliput - we just went for a walk to see the location of a flat on Auckland Road, I never realised it was such a long walk from Gipsy Hill! (Or are we just lazy?) :)

#5 Elmo

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Posted 10 January 2005 - 12:53 AM

Welcome to my side of the hill! :) You're not lazy, it's a long way up and down... and Auckland Road is blummin' long. Good for a jog though ;)
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#6 rachel

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Posted 10 January 2005 - 09:15 AM

Jog? I don't DO jogging! Unless it's for a bus! :blink:

We have another two to look at, one in Victoria Crescent, the other in Hermitage Road. Plus we've seen a couple in Haart's window, one on Crystal Palace Park Road and one on Harold Road. :rolleyes:

#7 belle

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Posted 10 January 2005 - 09:18 AM

Isn't it quicker to walk from CP station to Auckland road?
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#8 Simmondsan

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Posted 12 January 2005 - 09:25 AM

Is this correct that if you buy a house in one of the listed area's that you are exempt from paying stamp duty? Nothing at all or a reduced amount?

#9 Guest_Bex_*

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Posted 12 January 2005 - 10:32 AM

Only on properties up to £!50k I think it is. That is why when puying a property around this price buyers often try to do a deal on fixtures and fittings. However apparently the Inland Revenue are wise to this so it can be a bit dodgy. I always think its amazing how estate agents seem to be ignorant on this subject. Its a major selling point - especially to first time buyers, and yet they dont seem to know much about it or want to mention it when marketing your property!

#10 Craigsplace

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Posted 21 January 2005 - 08:26 PM

Hi Bex,

I am an independany motgage advisor located on Church Road. Stamp duty is 0% for properties worth up to 60K and also disadvantaged areas, 1% from 60 to 250K, 3% from 250 - 500K and 4% above that. Oviously there aren't too many properties for under 60K anymore, and the governement has conveniently forgotten to adjust these figures for inflation. The one to keep an eye on is the 250K mark. For example, if you buy a house for 249K, the stamp duty would be 2490. If the property goes for 251K, the stamp duty becomes 7530. This is a huge difference. You can sometimes bargain down the price, but you are right about inland revenue. No one is going to believe that you bought someone's old sofa for 35K etc.

If you need a broker, contact me on 0800 612 0207 or check out www.jumpmortgages.co.uk.

Cheers,

Craig