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Complicated stamp duty question
Sauveur
Posts: 35 Forumite
Due to separation I'm purchasing my ex partners share of our main home. We are not married.
I'm aware that I'll have to pay stamp duty for the the transfer of equity (consideration given to my partner and her share of mortgage) however... I also own a buy to let. Does this mean I have to pay the extra 3%? I hope not as it's my main home. I'd appreciate your thoughts. Thanks.
I'm aware that I'll have to pay stamp duty for the the transfer of equity (consideration given to my partner and her share of mortgage) however... I also own a buy to let. Does this mean I have to pay the extra 3%? I hope not as it's my main home. I'd appreciate your thoughts. Thanks.
0
Comments
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yes you will be liable for the higher rate SDLT because you own 2 properties.
You are not replacing your main home (the condition which gives exemption), you are simply increasing the % of it that you own. Your position is no different to someone who "staircases" up on a shared ownership property where they are liable to SDLT on each additional share they buy0 -
Thanks. Depressing news!0
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