Stamp Duty and redemption fees

dexterwolf

Looking at moving in with partner. We both have houses so looking at what we can afford . Does stamp duty and mortgage redemption fees get added to the next mortgage or can you port one of them ?

Also if we are with the same provider could they port one of the mortgages and then only pay one lot of redemption fees.

AnotherJoe

You'll have to ask your lender re porting.
SDLT and fees don't get added in to a mortgage as such but of course you can borrow a bit more to take account of that.

kingstreet

You may be able to port the rate from one of the sole mortgages to a new joint one, subject to status, etc.

You can't "add stuff to the mortgage" you would simply keep back some of the residual equity to cover such costs.

For example, you want to buy for £200,000, you have equity of £60,000 so you would apply for a mortgage of £140,000.

You want to use £10,000 of your equity for fees and stuff, so you take out a £150,000 mortgatge and at completion, your solicitor has the £10,000 from your equity left in hand for that purpose.

ec9wrr

Don’t people just build stamp duty into the price they offer on the house?
It’s strange. You don’t see people saying oh I’ve got to be VAT on a car purchase. It’s just a tax, built into the price of the house. If needed you can even adjust your mortgage in most cases so you borrow more, put less deposit in and use that to pay stamp duty.

MrsWhiskey

Wonder if anyone can clear something up for me about higher rate of stamp duty.

I own a flat, bought in 2005, I moved in with a partner between 2007 - 2015 and haven't lived in that flat since 2007.

We separated and I rented between 2015 - 2017, when I bought a new build property (2 years ago).

I paid the higher rate of stamp duty as I owned another property (on a buy to let mortgage) worth around £220K.

However, I have conflicting results, as the flat wasn't my main residence and I hadn't lived there for at least 10 years.

Is there any chance I can claim back the higher amount that I paid?

Thank you

SpiderLegs

MrsWhiskey wrote: »

Is there any chance I can claim back the higher amount that I paid?

Thank you

Nope.
You had one property. You bought another. You now have two.