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Gifted Stamp Duty
kellaree
Posts: 119 Forumite
Afternoon all,
I have a quick question about who, if anyone, I need to inform that my Stamp Duty is being gifted by a relative.
Will I need to inform the mortgage company about this? Or it is irrelevant as it will be paid to the solicitors?
(I am selling my current house and using the equity plus savings for the 15% deposit on my next house so the solicitor fees, EA fees and stamp duty will be gifted)
I have a quick question about who, if anyone, I need to inform that my Stamp Duty is being gifted by a relative.
Will I need to inform the mortgage company about this? Or it is irrelevant as it will be paid to the solicitors?
(I am selling my current house and using the equity plus savings for the 15% deposit on my next house so the solicitor fees, EA fees and stamp duty will be gifted)
0
Comments
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What has it got to do with the relevant people (EA/HMRC and Solicitors) who pays their bill as long as its paid as it becomes due?
The gifted part is only really relevant if its towards your deposit (i think)
Your only concern is money laundering checks imoNever, under any circumstances, take a sleeping pill and a laxative on the same night.0 -
Solicitors may well want proof of funds for money laundering checks, so you will probably need to inform them.
It might be wise to inform the lender also though, as it's not really possible to ring fence that money as being for the SDLT if it's in the same accounts as part of the deposit (and the solicitor is unlikely to accept payment from anyone other than you).0
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