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Stamp Duty Query

holdaway
Posts: 2 Newbie

Hi All,
Apologies for asking what is no doubt an oft-asked question, and I do know what the answer is likely to be but would like to double-check as I've not seen anything with our specific circumstance.
My Wife and I have had an offer accepted on a house in the midlands which falls under the 2% stamp duty bracket. My Wife previously owned a property which was sold ~10 years ago for ~£75k.
Would the fact that the value of the previous property was under the stamp duty threshold have any bearing on our current purchase?
Thanks in advance!
Stuart.
Apologies for asking what is no doubt an oft-asked question, and I do know what the answer is likely to be but would like to double-check as I've not seen anything with our specific circumstance.
My Wife and I have had an offer accepted on a house in the midlands which falls under the 2% stamp duty bracket. My Wife previously owned a property which was sold ~10 years ago for ~£75k.
Would the fact that the value of the previous property was under the stamp duty threshold have any bearing on our current purchase?
Thanks in advance!
Stuart.
0
Comments
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The previous ownership has the effect of making your purchase ineligible for first time buyers relief. The fact that the previous property was under the SDLT limit isn’t relevant, any previous ownership of residential property by the buyer or spouse at any time will prevent the relief from applying. You’ll pay SDLT at standard rates on your purchase
1 -
Thanks Stig, I assumed as much but was hoping for better news!0
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