MSE News: Budget 2017: Chancellor to unveil Government spending plans

Options
13»

Comments

  • simond83
    Options
    I bought my first home in April this year. However, it was a shared ownership property, and i was able to afford 65% of it.

    The total price of the property was £295,000, meaning my 65% share was bought for £191,750. On that price, my Stamp Duty cost came to £1,335. Had i opted to pay the entire stamp duty bill for 100% of the property, i would have paid £4750, but am very pleased i didn't take this option!

    So, were the value of my property to stay at £295,000 when i come to staircase up to 100%, would i have to pay Stamp Duty on that remaining 35% (£3415), or am i still classed a first time buyer and under the £300K mark, so will i get let off? Can find the answer to this anywhere!

    Thanks, Simon
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.8K Banking & Borrowing
  • 250.3K Reduce Debt & Boost Income
  • 450K Spending & Discounts
  • 235.9K Work, Benefits & Business
  • 609K Mortgages, Homes & Bills
  • 173.4K Life & Family
  • 248.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards