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Buying Share of Freehold Question
charley1965
Posts: 72 Forumite
Hi Everyone,
I've scoured the board looking for answers but I am still unsure....
Myself and my neighbour (just 2 flats) are starting the process of buying the freehold of the property we live in. We have been offered an absolute bargain price by our freeholder so we are both keen to buy the freehold and then assign ourselves new leases after the freehold sale is complete.
My question is regarding stamp duty. The Leasehold Advisory Service told me that we would both have to pay stamp duty on completion but looking at previous posts on this site regarding this, some people do not mention this in their costs. This could of course be because their property was below the threshold value. Does anyone know for definite if we have to pay stamp duty? Thanks
I've scoured the board looking for answers but I am still unsure....
Myself and my neighbour (just 2 flats) are starting the process of buying the freehold of the property we live in. We have been offered an absolute bargain price by our freeholder so we are both keen to buy the freehold and then assign ourselves new leases after the freehold sale is complete.
My question is regarding stamp duty. The Leasehold Advisory Service told me that we would both have to pay stamp duty on completion but looking at previous posts on this site regarding this, some people do not mention this in their costs. This could of course be because their property was below the threshold value. Does anyone know for definite if we have to pay stamp duty? Thanks
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