Stamp Duty Holiday and Convey Law

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Stamp Duty Holiday and Convey Law

    I own one property in the UK. We are purchasing a second property for 45,000 pounds. I understand that if I buy this in my name I don't qualify for the stamp duty holiday. So we are purchasing in my wife name as this is her first UK property purchase. Although still not a UK resident we understand that she would not need to pat stamp duty. Are we correct? We were recommended to use CONVEY LAW by online recommendations and advice from the money-saving expert site. We started the process on July 10. Cash buyers but the process and help is painfully slow, but guess we are stuck now. As this is an investment purchase we need action asap.

    #2
    The property price seems very low. Have you visited the site and checked the street and house is in a location and condition OK for renting ?

    First time buyers can buy property up to £500K , completion before 31 Mar 2021, without paying stamp duty .

    But your conveyancing solicitor will tell you this. Check your solicitor is a member of the UK Law Society.

    Comment


      #3
      Your wife will have to pay the additional SDLT as you own a property and she is connected to it by marriage.
      She has to pay stamp duty even if she isn't a UK citizen.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

      Comment


        #4
        £1,350 Stamp Duty Land Tax would be payable since this is a rental property, not a sole residence for either you or your wife, unless you are about to be divorced and she wants to come and live in this low cost house or flat you intend to buy for her to live in.

        Comment

        Latest Activity

        Collapse

        Working...
        X