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  • FIRST POST
    • trickydicky14
    • By trickydicky14 16th Jun 17, 7:20 PM
    • 131Posts
    • 16Thanks
    trickydicky14
    Stamp duty rates
    • #1
    • 16th Jun 17, 7:20 PM
    Stamp duty rates 16th Jun 17 at 7:20 PM
    My situation is this,
    I own a property value around £220,000 which I currently live in, I have also just inherited a property valued at around £175,000 which will be rented out for the foreseeable future.
    My question is this, If I sell my main residence and purchase a new home for around £300,000 will the stamp duty on the new house be at the higher rate because I have the inherited property as well.
Page 1
    • p00hsticks
    • By p00hsticks 16th Jun 17, 7:22 PM
    • 5,591 Posts
    • 5,136 Thanks
    p00hsticks
    • #2
    • 16th Jun 17, 7:22 PM
    • #2
    • 16th Jun 17, 7:22 PM
    No - if you are replacing your main residence the additional SDLT doesn't apply.
    • kingstreet
    • By kingstreet 16th Jun 17, 7:22 PM
    • 31,938 Posts
    • 17,070 Thanks
    kingstreet
    • #3
    • 16th Jun 17, 7:22 PM
    • #3
    • 16th Jun 17, 7:22 PM
    No.

    You currently own two properties and after completion of the purchase of your new main residence you will still own two properties.

    Surcharge doesn't apply.
    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.
    • trickydicky14
    • By trickydicky14 16th Jun 17, 9:18 PM
    • 131 Posts
    • 16 Thanks
    trickydicky14
    • #4
    • 16th Jun 17, 9:18 PM
    • #4
    • 16th Jun 17, 9:18 PM
    p00hsticks / kingstreet
    thank you that should save me a lot of money.
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