Quote:
Originally Posted by martyh
I'm not sure the abolition of stamp duty for over 60's will be enough ,for example if a pensioner wishes to downsize and sell their £250,000 house they would normally pay about £7,500 stamp duty but the value of the house they are selling may be £10,000 or more less because of the influx of properties onto the market ,most people tend not to sell when prices go down
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They'll have paid off the mortgage, nothing owing, and it'll be worth in real terms far more than they paid for it regardless. In addition it'll reduce the price of their new home if the market isn't at its peak.
I'd love to see a £250,000 4 bedroom house, stick a 1 in front of that for here!