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  • FIRST POST
    • Paton147
    • By Paton147 20th Oct 19, 11:43 PM
    • 61Posts
    • 12Thanks
    Paton147
    Paying Stamp Duty
    • #1
    • 20th Oct 19, 11:43 PM
    Paying Stamp Duty 20th Oct 19 at 11:43 PM
    Can stamp duty be paid with the monies from the sale of your house, within the process of then buying?

    We've saved £6000 to move house but would prefer the £4000-4500 stamp duty to be withdrawn from the equity we have on our current home. We estimate to have about 15K left over once we put a slightly lesser deposit down on the next place so it would make life a lot easier if its accepted that that 15K will cover the stamp duty.
Page 1
    • SDLT Geek
    • By SDLT Geek 21st Oct 19, 6:48 AM
    • 713 Posts
    • 487 Thanks
    SDLT Geek
    • #2
    • 21st Oct 19, 6:48 AM
    • #2
    • 21st Oct 19, 6:48 AM
    Your conveyancers will need to be in funds to pay the stamp duty land tax on the day of completion of the purchase. That is a lender's requirement. It is quite acceptable for the SDLT to come from the related sale which completes on the same day, so long as the same firm are handling both the sale and the purchase.

    The conveyancers would normally send you "completion statements" in advance showing the various sums involved, including the mortgage advance and asking you to put them in funds for any balance needed to be able to complete the two transactions.
    • Paton147
    • By Paton147 21st Oct 19, 7:10 AM
    • 61 Posts
    • 12 Thanks
    Paton147
    • #3
    • 21st Oct 19, 7:10 AM
    • #3
    • 21st Oct 19, 7:10 AM
    Cool, so as long as I use the same solicitor to buy and sell... then no issues?
    • Thrugelmir
    • By Thrugelmir 21st Oct 19, 11:24 AM
    • 65,397 Posts
    • 57,537 Thanks
    Thrugelmir
    • #4
    • 21st Oct 19, 11:24 AM
    • #4
    • 21st Oct 19, 11:24 AM
    Cool, so as long as I use the same solicitor to buy and sell... then no issues?
    Originally posted by Paton147
    That would be normal practice.
    ““there really is no such thing as ‘the future’, singular. There are only multiple, unforeseeable futures, which will never lose their capacity to take us by surprise.””
    ― Niall Ferguson
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