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On my parents home as an owner, will this affect my stamp duty?
nnkuk
Posts: 6 Forumite
Hi all,
My partner and I are looking to purchase our first home together, she currently owns a house and has had a offer accepted on it and I am using saving to form my share of the deposit. Do we have to pay the lower or higher rate if one of us already owns a home that we don't live in.
Many Thanks
My partner and I are looking to purchase our first home together, she currently owns a house and has had a offer accepted on it and I am using saving to form my share of the deposit. Do we have to pay the lower or higher rate if one of us already owns a home that we don't live in.
Many Thanks
0
Comments
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Higher rate if your interest in the family home is worth more than £40k. The shop isn't relevant.0
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Are you listed as owner because you were left a percentage of your parent's house, due to the death of a parent/inheritance?0
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Yes you will have to payAn answer isn't spam just because you don't like it......0
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Equal shares?
Joint tenants?
One has to ask.... why?
And never mind the SDLT, what about Capital Gains Tax?0 -
Hi,
If she sells her current home I thought she would be exempt from additional stamp duty (despite owning a share of another property) - if she replaces her main residence by selling it.
If the property that is being sold is not her main residence then I believe the extra will still apply if she also owns another property. (Edit : with her share over 40k as already mentioned)
Tlc0 -
It's not entirely clear from what you've said what the situation is. Is it you or your partner who owns the share in their parent's home?0
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OP, do you own a share in your parents' home?
Does your partner own a home in which she lives (which she is selling) and a share in her parents' home/another property?0 -
The OP has deleted significant elements from their original scenario...0
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