Selling two deeds separately?

Nerra

I haven't yet ruled out the house on the basis that I will never pay SDLT but if there is a legitimate way to avoid the tax and still give the vendor his asking price then obviously I'd prefer to go down that route.

timmyt

Nerra wrote: »

Hi everyone

I'm looking to buy a house for £265k. The sale comes with two deeds, one is for the house and the other is for a long driveway leading up to the house.

Does anyone know if its possible for the vendor to sell the deeds separately?

My thinking is that we could buy the house for 250k and then my parents could 'buy' the driveway for 15k which would save me the 3% stamp duty. I'm a FTB so I would literally be saving 3%.

Any advice would be greatly appreciated.

A lot of Agents would say the Seller should reduce to under £250k (i.e by at least £15k), but they miss the point that the Seller need simply say, offer me as if there was only 1% stamp duty so for instance offer me £265k but I will pay your extra stamp duty of £5450 and so I will accept from you £259,550.

Buyer wins and Seller save reducing by a further £9,550.

Those Agents who are currently advising people on the market at £1.1m to go under £1m (due to the forthcoming 5% stamp duty over £1m) are very exposed for critique.