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Another Stamp duty question..
1sttimelandlord
Posts: 3 Newbie
apologies for the topic as I'm sure this has been well discussed however...
i bought a house approximately 10 years ago independently. This has raised in value and now me and my fianc! are looking to buy a home together. i want to re-mortgage to a let buy to fund the deposit. She will be a first time buyer on this second property.
My question is... Will we be liable for the full higher rate stamp duty or will the additional 3% be pro-rata to accommodate my fianc! as she will only own one property.
i bought a house approximately 10 years ago independently. This has raised in value and now me and my fianc! are looking to buy a home together. i want to re-mortgage to a let buy to fund the deposit. She will be a first time buyer on this second property.
My question is... Will we be liable for the full higher rate stamp duty or will the additional 3% be pro-rata to accommodate my fianc! as she will only own one property.
0
Comments
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If the new property is in joint names, then you will have to pay the additional SDLT.
It is your 2nd property.0 -
Yes, but not hers. I only own half of the new property0
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1sttimelandlord wrote: »Yes, but not hers. I only own half of the new property
It doesn't matter if you own more than £40,000 in the new property then you pay higher rate stamp duty unless your other property is worth less than £40,000.0 -
I refer the honourable gentleman to the answer I gave a short while ago.1sttimelandlord wrote: »Yes, but not hers. I only own half of the new property
If you doubt me, read the guidelines.0 -
Point taken, thanks for the advise!0
This discussion has been closed.
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