Stamp duty - Time limits to pay this

ahfh1

Hi,

Just wondering if there are any time limits by which you have to pay stamp duty by, after you have purchased a house?

If there are time limits, when does the time period start e.g. as soon as money has been passed over to the seller?

Cheers

silvercar

The money has to with the land registry within 28 days of the completion date.

If you are getting a mortgage, your solicitor is also acting for your lender, so he has to be satisfied that the lender's interest can be registered on the deeds. So he needs to have the money prior to completion so he knows 100% that he can register the charge at the same time as he registers your ownership. Without the payment of stamp duty he can't register your ownership; without registering your ownership he can't register the mortgage lender's interest; without being able to register the lender's interest the lender won't release the money, you won't get the mortgage and can't buy the home.

Richard_Webster

The money has to with the land registry within 28 days of the completion date.

If you are getting a mortgage, your solicitor is also acting for your lender, so he has to be satisfied that the lender's interest can be registered on the deeds. So he needs to have the money prior to completion so he knows 100% that he can register the charge at the same time as he registers your ownership. Without the payment of stamp duty he can't register your ownership; without registering your ownership he can't register the mortgage lender's interest; without being able to register the lender's interest the lender won't release the money, you won't get the mortgage and can't buy the home.

Put very well - but the SDLT goes to HMRC not the Land Registry.

ahfh1

Thanks for the reply guys!