Stamp duty

georgia4567

Good morning,

I hope you are well!

My partner and I are currently buying a property together. He is a first time buyer, while I am not.  I currently own a property, which I lived in for a while until I decided to move back home and rent the property out.

I have recently remortgage this property and changed the mortgage from a residential to a BTL.

My question is, does my partner and I pay the additional property stamp duty - given the new rules on stamp duty? As this property we are buying together will be our main and only home. 

We have exchanged contracts and are due to collect the keys on Thursday 29th September. 

Any help on this matter would be greatly appreciated! 

macman

No, you will not qualify for the 1st time buyer SDLT relief, as you are not first time buyers if buying jointly.
However, you will benefit from the increase nil-rate threshold, assuming you did not complete before 23/9.
You will be subject to the 2nd property 3% surcharge. The property you are buying will not be your 'only home' : it will be in addition to the one you are renting out. You are not exchanging one main residence for another. The SDLT changes recently annoiunced do not affect this aspect of your purchase.