Stamp Duty Holiday Ends - BMV Property Investment Deals

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Stamp Duty Holiday Ends

Blog and News - Property Market

Written by John Angeletta

Friday, 20 January 2012 14:38

Nothing Lost When Stamp Duty Holiday Ends.

The Stamp Duty holiday was introduced for first-time buyers by Government 2-years ago. The Chancellor confirmed, in his Autumn Statement, it will not be extended.

So, first-timers with purchase in progress must legally complete on their property by 24th March or pay 1% Stamp Duty on a purchase price between £125-250,000.

Always destined to become a bit of a damp-sqib.

If you check the stat's to see how many actually benefited from this modest Government incentive, you'll see that this tiddly-tax saving did nothing much to stimulate the UK housing market.

Though first-time buyers may have saved between £1,250-2,500, they still, just like anyone else, have to save/borrow the deposit and obtain a mortgage.

But Stamp Duty rules makes little difference to those who know they the can buy below market value property, saving c.25% against open market value, anyway!

This means, you too could buy property just under the Stamp Duty threshold of £125,000, which could be worth £165,000, saving £40,000 and the £1,650 Stamp Duty tax too.

What does a £165,000 property look like?

Well, in the south west and south east you could buy a 2-bed apartment saving c.25%. In the midlands and the north, a 3-bed house again, saving c.25%.

Based on a purchase price of £124,995 (under Stamp Duty threshold and, 25% below market value), you would place a deposit of £31,248.

A 75% loan (£93,746), will require c.£312 interest only monthly mortgage payment @ 4%APR. Capital and interest repayment would be £500pcm, over 25-years.

If however, you can't find a BMV property in the area you want to buy-to-live, you could always buy 2-properties-a-year, each producing c.£400 per month gross rent, for an original investment of just £15,000 and use the excess rent to live where you choose.

If you don't believe it, call John on 0203 239 4359 and talk it through.

Why Rent When You Can Buy? (2012-01-06)
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