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Stamp duty and home exchange
averi
Posts: 102 Forumite
Hi
I would appreciate your opinion about stamp duty in Home exchange situation.
I am buying a new property priced at £ 295 000 and this is in home exchange. Builder is buying mine for £ 175 000. The difference is about £ 120 000. What will be my situation regarding stamp duty - will it be 3% or on the difference.
Averi
I would appreciate your opinion about stamp duty in Home exchange situation.
I am buying a new property priced at £ 295 000 and this is in home exchange. Builder is buying mine for £ 175 000. The difference is about £ 120 000. What will be my situation regarding stamp duty - will it be 3% or on the difference.
Averi
0
Comments
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Hi
Can anyone advise please?
Averi0 -
I believe it is on the agreed purchase price, not the difference, and the builder will be paying 1% on yours too.
However your solicitor is the best person to advise, after all thats what you pay them over inflated sums for.0 -
It's on the full amount I'm afraid.0
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yep, 3%.
I doesn't matter if you pay with cash, house, green shield stamps, blood, whatever....its the purchase price.Anything I write is based on my opinion only. Before acting upon any advice from anyone on a forum further professional advice should be sought.0
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