stamp duty increase

natalierogers1998

SDLT_Geek said:

natalierogers1998 said:

natalierogers1998 said:

SDLT_Geek said:

natalierogers1998 said:

GrumpyDil said:

Just one question OP. Are you and your partner selling an existing property that you live in as part of the transaction or is this a new house with no related sale? 

We are not selling as we are currently renting 

But has your partner (he is the one owning the properties) sold / disposed of a property which he had lived in as his only or main residence within the last 3 years? 

Or perhaps he has been renting for over 3 years?

We have both been in military accommodation which has been our main residency. His two properties are both rented out and are not being sold 

And no he hasn’t sold a house within the last three years 

Thanks.  So I agree that the higher rates of SDLT (previously an extra 3%, now an extra 5%) will apply to the purchase.

Our solicitor has stated the old rate of 3% applies as we have exchanged contracts before the 31st October 

SDLT_Geek

natalierogers1998 said:

SDLT_Geek said:

natalierogers1998 said:

natalierogers1998 said:

SDLT_Geek said:

natalierogers1998 said:

GrumpyDil said:

Just one question OP. Are you and your partner selling an existing property that you live in as part of the transaction or is this a new house with no related sale? 

We are not selling as we are currently renting 

But has your partner (he is the one owning the properties) sold / disposed of a property which he had lived in as his only or main residence within the last 3 years? 

Or perhaps he has been renting for over 3 years?

We have both been in military accommodation which has been our main residency. His two properties are both rented out and are not being sold 

And no he hasn’t sold a house within the last three years 

Thanks.  So I agree that the higher rates of SDLT (previously an extra 3%, now an extra 5%) will apply to the purchase.

Our solicitor has stated the old rate of 3% applies as we have exchanged contracts before the 31st October 

That is right, the “standard rates” do not apply, the “higher rates” do, but in your case the effect of the transitional provisions is that in your case the “higher rates” mean an extra 3% of the price.