Stamp Duty or not?

milkyboy

Hello all, I was wondering if someone could shed some light on this for me. We are due to complete in a few weeks but our solicitor has said that although we are first time buyers, because we are buying a resale shared ownership property (it’s owner is selling to us alongside the housing Association) we don’t get to avoid the stamp duty. They said they will send us details but have yet to do so.

Has anyone seen any information relating to this situation?

Thanks!

Kim_13

milkyboy wrote: »

Hello all, I was wondering if someone could shed some light on this for me. We are due to complete in a few weeks but our solicitor has said that although we are first time buyers, because we are buying a resale shared ownership property (it’s owner is selling to us alongside the housing Association) we don’t get to avoid the stamp duty. They said they will send us details but have yet to do so.

Has anyone seen any information relating to this situation?

Thanks!

Hi milkyboy,

I'll pop your post over to the House Buying forum where you are more likely to receive expert advice.

You and anyone you are buying with has to be a first time buyer to qualify for no stamp duty, so on the surface it looks as though this could be correct. I'm sure someone will be along if there's a technicality I've missed.

00ec25

will you own 80% or more of the property after this purchase transaction?