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Stamp duty from third party - Proof of source?
PWM1
Posts: 17 Forumite
Hope someone can advise pls.
After clearing most of our debts a few months ago, we just about have our required deposit of £20k. We saved £12k from our jobs, and £10k came from the sale of some land. So we have £2k over the deposit to hopefully cover mortgage and solicitor fees.
The problem is that we don't yet have the money for the stamp duty. We have seen a place that we really like and would like to get the ball rolling. Houses don't seem to stay on the market for long in our area. If we saved for the stamp duty I think it would be another 3 or 4 months
The good news is that we have an offer from a friend to pay our stamp duty. We would repay it in a few years, whenever we are ready.
I know that there are strict checks in place for solicitors to check the source of the deposit. Our bank statements, payslips, and some docs from the land sale should suffice for that. But I am wondering about the stamp duty? Do the same rules apply? I'm not sure if our friend would be happy to provide bank statements. They said they could pay it via bank transfer, card, or cash.
I don't want to risk doing anything wrong here. Should the stamp duty money be transferred to the solicitor via my account, and if so, when would be the best time for it to reach my account?
After clearing most of our debts a few months ago, we just about have our required deposit of £20k. We saved £12k from our jobs, and £10k came from the sale of some land. So we have £2k over the deposit to hopefully cover mortgage and solicitor fees.
The problem is that we don't yet have the money for the stamp duty. We have seen a place that we really like and would like to get the ball rolling. Houses don't seem to stay on the market for long in our area. If we saved for the stamp duty I think it would be another 3 or 4 months
The good news is that we have an offer from a friend to pay our stamp duty. We would repay it in a few years, whenever we are ready.
I know that there are strict checks in place for solicitors to check the source of the deposit. Our bank statements, payslips, and some docs from the land sale should suffice for that. But I am wondering about the stamp duty? Do the same rules apply? I'm not sure if our friend would be happy to provide bank statements. They said they could pay it via bank transfer, card, or cash.
I don't want to risk doing anything wrong here. Should the stamp duty money be transferred to the solicitor via my account, and if so, when would be the best time for it to reach my account?
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