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darkan9el
Posts: 39 Forumite
Hi all, How do I find out if my house is Stamp Duty Exempt.
When I originally purchased my house it was exempt from stamp duty, 11 years on and I want to transfer ownership, effectively removing my name and put it in my partners name. We have established affordability and have a mortgage in principal so all's good there, at the last minute they mentioned stamp duty and I told her when I bought the house it was stamp duty exempt, she seemed surprised at that but nevertheless that is what I was told by the solicitors that were assisting me in the purchase.
As a side note what is the current cost for searches etc, I live in Nottinghamshire and have been quoted approx £900 that seems a bit steep to me?
When I originally purchased my house it was exempt from stamp duty, 11 years on and I want to transfer ownership, effectively removing my name and put it in my partners name. We have established affordability and have a mortgage in principal so all's good there, at the last minute they mentioned stamp duty and I told her when I bought the house it was stamp duty exempt, she seemed surprised at that but nevertheless that is what I was told by the solicitors that were assisting me in the purchase.
As a side note what is the current cost for searches etc, I live in Nottinghamshire and have been quoted approx £900 that seems a bit steep to me?
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It might not be the property itself that was exempt. Were you a FTB 11 years ago?0
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It may have been exempt at the time you bought (some postcodes were) but that was a temporary concession, not a permanent thing. Or there was nothing to pay for some other reason. You need to assess it by the current rules.
I presume the £900 is the total bill, not just for searches?!0 -
11 years on, roperties are not exempt....... I told her when I bought the house it was stamp duty exempt, she seemed surprised at that .....
As a side note what is the current cost for searches etc, I live in Nottinghamshire and have been quoted approx £900 that seems a bit steep to me?
But some buyers may be. The buyer needs to assess their circumstances against the current rules.
What does the £900 cover? 'Searches' is far too vague a description.0 -
SDLT disadvantaged area status relief ended in April 2013.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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why not read the rules yourself?Hi all, How do I find out if my house is Stamp Duty Exempt.
When I originally purchased my house it was exempt from stamp duty, 11 years on and I want to transfer ownership, effectively removing my name and put it in my partners name. We have established affordability and have a mortgage in principal so all's good there, at the last minute they mentioned stamp duty and I told her when I bought the house it was stamp duty exempt, she seemed surprised at that but nevertheless that is what I was told by the solicitors that were assisting me in the purchase.
As a side note what is the current cost for searches etc, I live in Nottinghamshire and have been quoted approx £900 that seems a bit steep to me?
https://www.gov.uk/stamp-duty-land-tax/land-and-property-transfers0
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