FAQ Flats, Leases, Freeholds Share of, don't let it do your head in!

janthemum

Hi


I hope this is an OK place to put this lease query I hope Propertyman can help or someone else.


Im increasing lease from 72 to 99 years.


All been relatively quick and painless. I have a letter from solicitor asking for £7,xxx for and I quote 'all costs and and expenses... made up of the following...
payment for lease extension £
Freeholders fees £x
My legal fees £x
HM Land Registry fees £x '


But then goes on to ask for NI number and date of birth


to, quote 'enable me to deal with the required Stamp Duty Form, following completion of the Lease extension.'

Does that mean I then will have to pay stamp duty at some point when lease is done? I thought Stamp Duty was when you buy somewhere and I bought this in Feb and it was under the stamp duty threshold (£110k) do they now want stamp duty as they think it has gone up in value??


Im confused Ive written the cheque for it all but if I have a big bill for stamp duty, I will have to have a re think.


Thanks in advance.

propertyman

it should not be due at 7k. Suspect its a standard form, as in acting for you they will have the info already when confirming your identity.