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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10632
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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I am purchasing a house from the builder Charles Church and

Resolved Question:

I am purchasing a house from the builder Charles Church and am due to exchange contracts tomorrow.
I have a signed Charles Church contract stating that the incentive/discount level is £22,199.80 which includes stamp duty.
In light of the government's reform the builders want to reduce the incentive level by £4,450. Can they legally do this?
Considering the governments reform was to reduce the cost of purchasing a property for most consumers, surely it is unethical for a national builder to be profiting from it?
Submitted: 3 years ago.
Category: Law
Expert:  Aston Lawyer replied 3 years ago.

Hello and thanks for using Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

When you made your offer to purchase, did Charles Church agree to pay the whole amount of your Stamp Duty or just a percentage?

I look forward to hearing from you.

AL

Customer: replied 3 years ago.

The whole amount

Expert:  Aston Lawyer replied 3 years ago.

Hi Faith,

Thanks for your reply.

Well, if part of the incentive was to pay all your Stamp Duty, then now that it has been reduced, I would say it is perfectly reasonable of them to "pay the revised figure" which is now going to be a smaller amount than it would have been when you made your offer.

They will argue, that the incentive was £x amount plus your Stamp Duty, so now that the Stamp Duty payable has been reduced, so should this element of the incentive. They would also say that if they pay you the full amount of the original incentive, you would be profiting from the tax cut.

I'm sorry that I disagree with you, but I am looking at it from a neutral point of view.

At the end of the day, you haven't exchanged Contracts yet, and it is therefore very much up to you if you would like to argue the case.

I hope this assists and please let me know if I can be of any further help.

Kind Regards

AL

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