STAMP DUTY with existing properties

Eggshell

I would love some HELP please on stamp duty. The websites refer to both additional properties but also mention MAIN RESIDENCE. 

My situation is I am buying a property with my partner where we will all live as a family. Currently he has a property which we live in which needs to be sold, I have a flat which I let which also will be sold. Neither are yet on the market. However we do not want to loose the house we have found and they will only accept offers if your property has sold of if you can find independently. So we can’t wait to sell ours abs are able to secure a new morthage on this new property without the need to have the other properties sold.  Our intention is to sell both ASAP but they will not be sold /completed in time for the new property to complete. 

So effectively it is an additional property hit at the same time will be our MAIN residence and will also be our only property  within 6 months of completing (assuming we find buyers relatively easily).

So can we qualify for the MAIN residence stamp duty rates or do we have to pay the higher rate under the ADDITIONAL property banner?

Any help is appreciated. Thanks!

kingstreet

Pay surcharge and get it refunded if previous main residence sells within three years.

K_S

@eggshell You will have to pay the 3% (assuming England) surcharge now and can apply for a refund once the sale of the old house (where you currently live) is completed within the next 3 years.

CSL0183

As above, you are liable for the additional home tax but can recoup this charge when the other 2 properties sell. 

The main residence thing appears to confuse a lot of people as of course you will only ever have one main residence. It’s an additional property tax and as you will both have 3 properties (between you) on date of completion you are liable.