New Build Query

sally0101

Hi there. I'm buying a new build property which should be built by Dec 2013. I'm sitting here filling in a form from the Solicitors and it states they are charging me £60 to complete a Stamp Duty Land Tax Form.

The house I am buying is £89,995, so I had thought that I would not be paying stamp duty. I thought you only paid it is it was over £125,000.

It states on the form I can apply for Stamp Duty Relief if ALL of the following apply:

• The effective date is on or after 25th March 2010 and before 25th March 2012.
• The consideration given is £250,000 or less.
• The first time buyer intends to live in the property and it will be their only or main UK home.
• They have not previously owned property or land either in the UK or anywhere else in the world, including property bought with anyone else.

With regards to their first bullet point criterea, the date of 25th March 2012 has already passed, so Im uncertain as to how I could meet that one.

Also, I had a mortgage in 1999 or 2000 for 2 years ... so does this mean I will have to pay stamp duty on my new home. As I have not owned a home for over 10 years, the building company said they class me as a first time buyer.

Any guidance would be greatly appreciated. I didnt realise how confusing house buying would be.

Thank you in advance.

G_M

Whether SDLT is payableor not a SDLT Return still has to be completed and submitted.

Having said that, any half-decent conveyancer includes this within their basic fee; it is part of conveyancing.

Manyof the cut-price, online, cheap-quote conveyancers hide this extra fee within their small print.

Not much you can do but pay (or complete the SDLT formyourself).

scottishblondie

As G_M said there is no stamp duty to pay as your purchase is under the limit, but the form still has to be completed.