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1 hour ago, MancunianStacker said:

They are classed as additional properties so the normal stamp duty rates apply.

The stamp duty relief is just for first homes / own residential properties. It’s just designed to keep the market going really.

It’s all homes including BTL and second homes. The stamp duty holiday applies to the main part of stamp duty but second homes will still have to pay extra 3%.
 

https://www.mortgagesolutions.co.uk/news/2020/07/08/stamp-duty-holiday-confirmed-by-chancellor-in-summer-statement/

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8 minutes ago, Goldhooked said:

It’s all homes including BTL and second homes. The stamp duty holiday applies to the main part of stamp duty but second homes will still have to pay extra 3%.
 

https://www.mortgagesolutions.co.uk/news/2020/07/08/stamp-duty-holiday-confirmed-by-chancellor-in-summer-statement/

Thanks for the correction mate 😉 


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16 hours ago, silenceissilver said:

Well, only if it transfers into visible action. It does somewhat but not sufficiently yet.

Link starts at 9:39, at 9:58 "We need a great reset". Before that he talks about the Marxist/Globalist agenda (in English)

It's clearly planned to have a reset soon. With control over the FED you can easily trigger it. Trump attached it to the Treasury Department recently, he certainly doesn't want a crash before the elections. Soros and Co clearly try to trigger it by hook or by crook before the US election.

 

Yes the great reset is in our face.

many like him are saying we need this great reset. Prince Charles had his handlers keep him talking about this great reset.

 

not only is it on the cards, it’s coming. The only question is how much longer.

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16 hours ago, Martlet said:

Sunak (UK Chancellor) just announced stamp duty threshold raised to £500k, effective immediately. That'll spur on some house transactions, oil the housing market wheels.  

Trouble 

 

16 hours ago, freefall said:

Chancellor just announced no stamp duty threshold temporarily raised from 125k to 500k. Cant remember who said it but there’s nothing as permanent As a temporary government policy. 
 

The UK government will do everything in its power to stop the housing market crashing. Evidenced by the introduction of help to buy after a financial crisis caused by excessive lending and house prices. 
 

Will it be enough. Who knows  

Help to buy is ending soon, how cares about saving a few percent by no more stamp duty if nobody can raise funds to buy the house in the first place.

when furlough ends unemployment will soar, banks are making it extremely hard to get a mortgage and we are heading into a new Great Depression 

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14 hours ago, MancunianStacker said:

With no 95% lenders at present (without family assistance style mortgages), it won’t get any chains started. A 5% top up by the Govt for FTBs only would have had the effect needed but not sure how much that would have cost.

Let’s see but without someone to buy your house you ain’t moving, stamp duty or no stamp duty. 

Exactly a few percent stamp curt saved means nothing if people can’t raise funds to begin with.

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1 hour ago, Rocky2000 said:

Exactly a few percent stamp curt saved means nothing if people can’t raise funds to begin with.

I south west Some houses selling before being listed in web sites, estate agents only dealing with cash buyers and no chains no downtown here    They could have but it up 10% and they would still be flat out.    Wife looking for new kitchen, had plumber, builder, electrician, kitchen fitted over the other day and they all said never known it so busy.    Maybe the boom before the bust but it’s all go down here

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5 hours ago, Cornishfarmer said:

I south west Some houses selling before being listed in web sites, estate agents only dealing with cash buyers and no chains no downtown here    They could have but it up 10% and they would still be flat out.    Wife looking for new kitchen, had plumber, builder, electrician, kitchen fitted over the other day and they all said never known it so busy.    Maybe the boom before the bust but it’s all go down here

I think it is a couple of things.

1. Pent up demand from lockdown and people reassessing what type of dwelling they want should a second lockdown occur. There is no point being in London if the restaurants and opera is closed, but a garden and countryside seems a good idea. 

2. A flight from currency to real assets. The British collective common (non)sense is that house prices will go up forever. 

When we get to November I think both of these will be exhausted and a sharp readjustment will occur. 

Just my opinion. 

 

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On 09/07/2020 at 13:17, GoldenPhil said:

I think it is a couple of things.

1. Pent up demand from lockdown and people reassessing what type of dwelling they want should a second lockdown occur. There is no point being in London if the restaurants and opera is closed, but a garden and countryside seems a good idea. 

2. A flight from currency to real assets. The British collective common (non)sense is that house prices will go up forever. 

When we get to November I think both of these will be exhausted and a sharp readjustment will occur. 

Just my opinion. 

 

Exactly right. There is a flight out of cities into rural and paper virtual into real assets.
 

John Exiters inverted pyramid shows a rush down the pyramid, out of risky and into tangible.

 

Maybe the COVID-19 exiters pyramid should show a rush out of city property down into rural property then down into cash, then further down into gold, then at the tip of the point SILVER.

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25 minutes ago, Rocky2000 said:

Exactly right. There is a flight out of cities into rural and paper virtual into real assets.
 

John Exiters inverted pyramid shows a rush down the pyramid, out of risky and into tangible.

 

Maybe the COVID-19 exiters pyramid should show a rush out of city property down into rural property then down into cash, then further down into gold, then at the tip of the point SILVER.

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