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Stamp duty on shared equity
jusjenks
Posts: 1 Newbie
We are getting support to buy in London through work. Shared equity scheme. We have been told as work have other shared equity properties then this house will come under second home for them. ( it will be our only home) so we are liable for second home SDLT. Is this right? It seems crazy we are getting g help then we have to pay this extra tax on our only home.
0
Comments
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If you are buying as "tenants in common" with you having a share and a company having a share then yes, I would expect the extra 3% SDLT to apply to the whole price.
This is different from "shared ownership" with a registered social landlord where there are special rules which can be favourable.
Is there any way your work could lend you the money, so that you are the sole owner of the property?1 -
Companies who are buying residential properties always pay the higher SDLT rate, whether they own no properties or 100 properties.
The higher rate is not just for second homes.1
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