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Paying Stamp Duty with Credit Card

2

Comments

  • Hi,

    I think you can definitely pay the SDLT by CC directly yourself and save unnecessary solicitor fee approx £75.

    My question is can I use 3 different cc to pay the bill as I don't have enough credit limit to pay by 1 card.

    Regards
  • lee111s
    lee111s Posts: 2,988
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    I really don't think you should be purchasing a house if you can't afford the stamp duty.
  • Juhan wrote: »
    Hi,

    I think you can definitely pay the SDLT by CC directly yourself and save unnecessary solicitor fee approx £75.

    My question is can I use 3 different cc to pay the bill as I don't have enough credit limit to pay by 1 card.

    Regards

    I honestly can't see this happening as each CC will charge the 2% or whatever fee, and if ur using 3 of them then you have even more of a problem.
  • kingstreet
    kingstreet Posts: 38,690
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    Juhan wrote: »
    Hi,

    I think you can definitely pay the SDLT by CC directly yourself and save unnecessary solicitor fee approx £75.

    My question is can I use 3 different cc to pay the bill as I don't have enough credit limit to pay by 1 card.

    Regards
    The £75 isn't the fee for paying the stamp duty, it's probably the fee for filling in the SDLT return, when charged separately as some firms like to do to make their headline fees look cheaper.

    I suggest you find out exactly what you are trying to avoid paying...

    ... and this won't work if you need a mortgage, as I noted in post #10.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • loubel
    loubel Posts: 815
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    Juhan wrote: »
    I think you can definitely pay the SDLT by CC directly yourself and save unnecessary solicitor fee approx £75.

    If you are a cash buyer then you can sort the SDLT directly with HMRC. Their website says they charge 1.4% for payments by credit card plus you will have to check with your card provider whether they treat it as a purchase or a cash advance. You would only save the solicitor's fee for preparing and submitting the SDLT Return if you do this yourself as well.

    If you are buying with a mortgage then you can't do this at all as your solicitor has to deal with both the SDLT Return and paying the SDLT.
    My question is can I use 3 different cc to pay the bill as I don't have enough credit limit to pay by 1 card.

    Probably, but it would certainly suggest that you have overstretched on your purchase price.
  • dgtazzman
    dgtazzman Posts: 1,140 Forumite
    I find it strange a cash advance on a CC that offers that facility would be seen so negatively. Guess I'm in trouble then for taking out a small cash advance abroad as my CC offers far better rates than my bank for taking out foreign money from cash points (which I pay off online asap to avoid the interest charges negating the savings). It's probably more a question of looking at the whole picture, rather than just one single cash advance. £9000 is a whole different ball game though...
  • It had crossed my mind to put our stamp duty on the AmEx charge card and then pay off the balance straight away, simply for the air miles :rotfl:

    (Of course I know it doesn't work that way, I simply wish it did!)
  • lee111s wrote: »
    I really don't think you should be purchasing a house if you can't afford the stamp duty.

    :T Well done lee111s, an informative and helpful post. Do let us know when you see fit to clamber down from that high horse you are about to fall off.
  • lee111s
    lee111s Posts: 2,988
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    No high horse here, just a matter of fact. If they don't have the cash for the necessaries then I don't think it's wise to be taking on such a large financial responsibility of owning a house. What if they then move in and the boiler goes? Where they going to magic 2-3k from?
  • Agree with others who try to advise against such a move. Not trying to be patronising but even without interest, 9K over 20 months is £450 per month! It's very costly and will be even more costly if not managed.
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