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Stamp duty on 2nd house? Confused

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rover25
rover25 Posts: 387 Forumite
in House buying, renting & selling
Can anyone tell me how much I would have to pay in stamp duty on 2nd house costing £168k?
Calculator telling me £5900 but sis in law who bought recently says that is wrong.
She says they thought they would have to pay £4,500 on approx £140k property but that it was much much less.
Thanks everyone
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  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
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    You would pay £5,900 if you are purchasing and additional residential property.

    Was you SIL purchasing an additional residential property or was she replacing her main residence?
  • amateur_house
    amateur_house Posts: 276 Forumite
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    I think £5900 seems right,
    3% on the first £125k is £3750
    5% on the remaining £43k is £2150

    Someone else may know better
  • rover25
    rover25 Posts: 387 Forumite
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    Pixie5740 , this is their 2nd property. They have rented out their first house and are now living in their new house.
    She said they thought it would be £4500 but it was only a small amount. Will text her to find out exactly.
  • rover25
    rover25 Posts: 387 Forumite
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    They have just paid the normal 2% on £138k on their 2nd property. Don't know how they managed it!
  • amateur_house
    amateur_house Posts: 276 Forumite
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    Did they complete the purchase before 1st April 2016 before the new rules took effect?
  • rover25
    rover25 Posts: 387 Forumite
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    No, they bought in October 2016 :question:
  • amateur_house
    amateur_house Posts: 276 Forumite
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    Strange. I was in the process of buying a house recently. It fell through in the end, but the solicitor told me the stamp duty would be £2700 (on a £92k purchase price) as I hadn't sold my current house.
  • delicious11
    delicious11 Posts: 41 Forumite
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    I know I should start another thread but my question relates to stamp duties on second properties.


    I already have a property in my name which I don't want to sell. My partner does not. If we buy a property together would we still have to pay the new stamp duty charge? I was wondering how that would work out as he is first time buyer and I am not.
  • delicious11
    delicious11 Posts: 41 Forumite
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    Originally Posted by delicious11 viewpost.gif
    I know I should search start another threads but I can't be bothered, so instead I'll simply post a question relates to stamp duties on that has been asked and answered umpteen times already regarding the most common scenario applicable to second properties.


    I already have a property in my name which I don't want to sell. My partner does not. If we buy a property together would we still have to pay the new stamp duty charge? I was wondering how that would work out as he is first time buyer and I am not.





    eggha wrote: »
    read the guide

    https://www.gov.uk/government/publications/stamp-duty-land-tax-higher-rates-for-purchases-of-additional-residential-properties





    Wait ..why are you so rude? I asked an innocent question in a relative thread and expected a concise answer. However, you post a link that does not tell me exactly what I need to know and try to edit my post in the process? I could go on about your insolence but I will say that if you can't provide the answer that I want then you are not forced to respond.


    Not everyone has time to trawl through old threads and sometimes searches do not bring the correct information anyway. Further more not everyone spends 24 hours on this board to know that it has been discussed up teem times so do not assume they know!
  • lovinituk
    lovinituk Posts: 5,711 Forumite
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    delicious11 wrote: »
    I know I should start another thread but my question relates to stamp duties on second properties.


    I already have a property in my name which I don't want to sell. My partner does not. If we buy a property together would we still have to pay the new stamp duty charge?
    Yes.......
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