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

        • Fee farm rent in " Freehold" house
          by zywiec
          Hello
          I made an offer on a 1 bed house which was accepted. I was sure it's freehold. Now I need to sign reservation agreement and found in document something like that.
          Charges Register
          This register contains any charges and other matters that affect the land.
          1 The land in...
          24-09-2020, 20:33 PM
        • Reply to Fee farm rent in " Freehold" house
          by pilman
          The first words used in that clause confirm that the land sold off in 1935 was no longer liable to pay any part of the fee farm rent because the seller accepted full responsibility to pay all of the rent, because he was continuing to retain the remainder of the land that was subject to the fee farm...
          26-09-2020, 11:45 AM
        • Reply to Fee farm rent in " Freehold" house
          by Lawcruncher
          A fee farm rent is another name for a rentcharge. Despite the word "rent" appearing no tenancy is involved. The rent is also charged on other land. The intention back in 1935 was that the seller would continue to pay the whole of the charge.

          What you need to do is enquire if the...
          24-09-2020, 23:30 PM
        • Reply to Fee farm rent in " Freehold" house
          by zywiec
          Thank You for Your reply
          It look like that there is possibility to buy out fee farm rent ( to be confirmed by conveyancing solicitor). Do You have any idea estimated cost of buying out grount rent ? 108f a year at this moment.
          What's is Your view on house with ground rent?
          Has it...
          24-09-2020, 22:40 PM
        • Reply to Fee farm rent in " Freehold" house
          by Gordon999
          You need to ask your conveyancing solicitor ( a local to the property) to explain how to understand and remove the fee farm rent ?

          https://www.nidirect.gov.uk/articles...ur-ground-rent
          24-09-2020, 20:52 PM
        • Charges on Land register query
          by ZaraBUK
          Apologies in advance if this has been addressed previously I am a novice here so please do point me to the post.

          I have applied for my first re-mortgage the legal team acting on behalf of the bank have told me that there is a "Lease dated 17 May 1926 to William Thomas Little for 99...
          20-09-2020, 12:06 PM
        • Reply to Charges on Land register query
          by Lawcruncher
          I think that is something that the conveyancer who acted on your purchase should explain....
          24-09-2020, 09:20 AM
        • Reply to Pre-Registraton Deed Wording Any Advice?
          by Lawcruncher
          If your land is unregistered, when you sell part of land comprised in a conveyance you have to keep the conveyance or you will not be able show title to the land you retain. A "memorial" or " memorandum" of a conveyance or other document is a note endorsed on (or if there is no space...
          24-09-2020, 08:49 AM
        • Pre-Registraton Deed Wording Any Advice?
          by first timer 123
          Hi There,
          If you have two adjoining properties with a conveyance of land that state:
          ALL THAT messuage or dwellinghouse and garden with the rights easements and appurtenances
          thereto belonging situate at (removed address)

          With regards to the appurtenances, are they shared?...
          13-09-2020, 18:45 PM
        • Reply to Pre-Registraton Deed Wording Any Advice?
          by first timer 123
          Just a quick follow up. When you say they have title do you mean they can claim adverse possession?
          if they have already been granted the rights in deed from years ago how could they now now claim its their land.
          Sorry if I am missing something it just confuses the heck out of me.
          24-09-2020, 00:35 AM
        Working...
        X