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Stamp Duty Land Tax
Dusty12345
Posts: 2 Newbie
Hello, I was wondering if someone could please offer advice?
I own a flat that I lived in for seven years, I relocated for a new job so have rented my flat out for the last 3 1/2 years, and have lived in rented accommodation since. I’m looking to buy a new house with my partner who is a first time buyer. I’m aware that we won’t qualify for the first time buyers SDLT exemption, but can I qualify for the lower rates, if I dispose of my flat prior to buying with my partner? I would not be a first time buyer, but would not own any other property at the time of the transaction. I’ve had a good look online but can’t seem to find anything that compares with my situation. I know there is a rule that you must have lived in the disposed of property within the last 3 years, but it looks as though this applies if I disposed of the flat after purchasing the main residence. So would I be exempt if I disposed of it prior to the purchase, even though it’s been rented out?
Thanks in advance for any advice you can offer!
I own a flat that I lived in for seven years, I relocated for a new job so have rented my flat out for the last 3 1/2 years, and have lived in rented accommodation since. I’m looking to buy a new house with my partner who is a first time buyer. I’m aware that we won’t qualify for the first time buyers SDLT exemption, but can I qualify for the lower rates, if I dispose of my flat prior to buying with my partner? I would not be a first time buyer, but would not own any other property at the time of the transaction. I’ve had a good look online but can’t seem to find anything that compares with my situation. I know there is a rule that you must have lived in the disposed of property within the last 3 years, but it looks as though this applies if I disposed of the flat after purchasing the main residence. So would I be exempt if I disposed of it prior to the purchase, even though it’s been rented out?
Thanks in advance for any advice you can offer!
0
Comments
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If you don't own any other property (either of you) at the point when you purchase, then you do not pay the 2nd property additional SDLT.0
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