increase in property purchase tax

Hi everyone We are new to this and
Are just going through a property purchase.
Was so excited well still am.
However just had email from our solicitor to say as from 1st August the
Purchase tax has increased from 8 to 10 per cent!
Now dreading telling my other half!
Our funds are dwindling so anything we will need to do to our
Our pre owned home is drifting away.
I am still in shock as I thought I had done my homework
And wasn't prepared for this. The euro has come down about three
Since we paid our deposit we due to complete October and without any mortgage
But if we get any more nasty surprises we may have to have a loan!
Has this happened to anyone else?
Is anyone out there going through this process now like us.
It's all very scary but we are also excited and can't wait to get our keys.
Would love to hear your thoughts.
Thanks everyone oh were you scared when you were buying?

Sorry to hear about this - I read about the increase a week or two back.

When we bought our house - 9 years ago - we were worried about the exchange rate - and kept our fingers crossed that it would not flutuate between saying we would buy the house and the actual purchase going through! Luckily the purchase went through quickly, without significant exchange flutuation. I feel so sorry for your situation. My one is only minor in comparison - trying to guage the best time to buy euros before coming on holiday to Spain. I have heard that the rate usually goes down in the summer and then improves - so wish you well with your purchase - and will have my fingers crossed for you regarding the exchange rate!

Oh thank you Sandra is nice to hear from you and for your kind comments.
It's a bit of a shock as I wanted to make the house a little nicer I shall have to cut back .
Now told hubby and he went mad!
He is coming down a bit now.
I didn't want this time too be spoiled as we felt it was our dream come true!
Never mind but the bullet sure it will all be worth it in the end.

Oh thank you Sandra is nice to hear from you and for your kind comments.
It's a bit of a shock as I wanted to make the house a little nicer I shall have to cut back .
Now told hubby and he went mad!
He is coming down a bit now.
I didn't want this time too be spoiled as we felt it was our dream come true!
Never mind but the bullet sure it will all be worth it in the end.

Hi, blackvelvet, I feel so sorry about this. However, when you sell this property in the future, all the tax will be accounted for tax reduction.