@JH: Never afraid of competition and private/low cost selling has always been part of the game. You pay your money and make your choice but my angle has always been that buying/selling a property is NOT like buying a car, it's 90% emotional. Actually getting an offer is also only c. 20% of the job ion selling property and so sadly the expensive element of agency, the human bit, is vital and my experience is that if you leave that bit out you have buyers and sellers struggling to understand what is quite an esoteric process. If you understand it and have time though, why not.
@LO: Clearly if you're in the under £1m bracket you're going to be saving money. However, the discussion today has ranged onto more expesive property and of course the burden on [particularly >£2m] some is now huge. So huge that the OBR is forecasting a substantial fall in transactions over the next three years. Given they account for 30% of the take that's a big problem and it's these buyers and sellers that equally disproportionately contribute to the wider economy. Stop them buying and selling and you have a major impact, much bigger than those wishing to appear tough before the election seem to realize.
@LO: Interesting one really, but as someone who has long said that Stamp Duty needed to be reformed I can't really complain. It needed to come away from the outdated "slab" system that distorted the market and caused bunching so this is a much better way of doing it in my opinion. As for the levels well it is probably about right and those buying under £1m will be saving cash which makes a big difference to them. The HNW sector will suffer slightly but it will find its level and the only problem is if there really is some kind of Mansion Tax on top of these changes. For me, you can't have both.
@LO: I think Stamp Duty is a much fairer way of doing it as it only effect those buying a property, does not hit those who may have had a property for a long time and are not wealthy
@LO: If I was being cynical I would say it was a Tory attempt to shoot the Labour Mansion Tax "fox". Luckily they resisted the impulse to do more in the Budget.
@JH: For me fixing now is definitely a good option with rates at the level they are. Yes, they could get lower but only a touch, whilst on the reverse side they could get much higher over the longer term. It all depends on the clients attitude to risk and whether they need some kind of flexibility or not, but for those that can a good 5 year fix is a great option.
@JH: If you have a large deposit of 40% then you can get down to 2.19% potentially now, (3.3% APR). If you have 25% then around 2.28% (3.2% APR) or only 10% deposit then 3.79% (4.6% APR). Obviously depends on your circumstances and suitability for your personal situation and these are just a guide and not a recommendation.
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@alfagetti: Depends on who you read really. There are tjuose who
Thanks all and see you soon - thank you Ed :-)
Thank you to all who joined in today and do check in next week, Ed
@JH: Never afraid of competition and private/low cost selling has always been part of the game. You pay your money and make your choice but my angle has always been that buying/selling a property is NOT like buying a car, it's 90% emotional. Actually getting an offer is also only c. 20% of the job ion selling property and so sadly the expensive element of agency, the human bit, is vital and my experience is that if you leave that bit out you have buyers and sellers struggling to understand what is quite an esoteric process. If you understand it and have time though, why not.
@LO: Interesting one really, but as someone who has long said that Stamp Duty needed to be reformed I can't really complain. It needed to come away from the outdated "slab" system that distorted the market and caused bunching so this is a much better way of doing it in my opinion. As for the levels well it is probably about right and those buying under £1m will be saving cash which makes a big difference to them. The HNW sector will suffer slightly but it will find its level and the only problem is if there really is some kind of Mansion Tax on top of these changes. For me, you can't have both.
Bottom line - interest rates surely can only go one way,so are buyers better off fixing today? having shopped around theres 2 year deals at 4.99% but realistically s
Good points, thank you. Does it seem somewhat hypocritical of the Tories to berate the mansion tax though and then whack the SDLT up?
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