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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To ask someone to explain stamp duty to me please?

20 replies

theduchessstill · 20/08/2017 22:33

I have another thread this evening but I really want to ask this.

I have done a transfer of equity to buy my ex out. It involved borrowing an extra £17.5K of which I agreed to give him £12K, with the remaining £5.5K for me to pay marital debts I've been left with and divorce costs as we split due to his adultery.

Completion was on Friday and £2.5K was paid into my account by my solicitor. Could I be £3K down due to stamp duty? If so I will be fucking fuming as it won't leave me with enough to cover my costs and at no point did my solicitor advise me it was a consideration. My total mortgage is now just over £125 000 - so I would have been better borrowing a bit less to keep it below the threshold - or have I misunderstood how it works? I'm trying to look on calculators but they make no sense to me...

OP posts:

lionsleepstonight · 20/08/2017 22:49

It's based on the value of the house, not how much you borrow. But I'd have expected the solicitor to have explained that once the valuation came in.

lionsleepstonight · 20/08/2017 22:51

Has the solicitor just kept back what you owe them for the divorce costs?

Original poster

theduchessstill · 20/08/2017 22:51

But how would they determine the value of the house when it hasn't been sold this time?

Having looked on two sites, including the government one, it seems it's not payable when a property is transferred due to divorce, so not applicable here?

OP posts:

lionsleepstonight · 20/08/2017 22:53

X post, maybe they've deducted their fees for the divorce?

Pigeonpost · 20/08/2017 22:54

I think the solicitor has taken their fees. Would be pretty standard.

Stinkbomb · 20/08/2017 22:54

I understand that stamp duty goes on the value of the house, but when I transferred my share of our house to stbxh, I don't believe he had to pay any additional stamp duty even though the mortgages transferred to him & the house has increased in value. Ask your solicitor for a breakdown/statement - they should have sent one to you.

Original poster

theduchessstill · 20/08/2017 22:55

Sorry! I owe about £800 to them but the amount they've paid me is £3K less than it should be. I suppose I'll find out in the morning - just want it sorted now!

OP posts:

SouthPole · 20/08/2017 22:55

Not payable in this case (divorce) and I can't see that it would be anyway.

It is absolutely unacceptable for your solicitor to have completed onthis without you having had a completion statement.

I'm a partner specialising in property and you have enormous grounds for complaint here.

Percephone · 20/08/2017 22:57

It can't be stamp duty, because even if you were purchasing the whole house it would only be 2% of the value over £125k. Most likely solicitors fees.

Original poster

theduchessstill · 20/08/2017 22:58

Gosh - what's a completion statement SouthPole and when should I have received one?

OP posts:

priscillap · 20/08/2017 23:05

I think it is more likely they have given you an interim payment and will pay any balance owing when all costs etc. have gone through the Law Society checks. The solicitors, as I understand it, in these circumstances have to itemise everything and then have it approved by the Law Society or some such legal body. I would ring and ask them, or write is perhaps a better way, then they have to write back and explain it and itemise it. You will eventually get a final itemised document with everything set out anyway.

movingalong · 20/08/2017 23:43

i think they have kept half the 'marital debts' total back so he pays that and you pay the other half.

littlemisssweetness · 21/08/2017 08:14

Or you could be 3k down because your ex didn't pay it all?

littlemisssweetness · 21/08/2017 08:15

Oh sorry I've just seen that it wasn't him buying you out!

Original poster

theduchessstill · 21/08/2017 09:36

Well I have spoken to someone at the solicitor's office and they have sent me an email copy of the statement of completion. It appears some fees have been deducted, which is obviously fine, but I still can't see why I am £3K down. The bill/statement is incredibly confusing and makes no sense to me. I have rung again but the woman I spoke to is now away from her desk.

Dc are going feral and I feel so anxious and can't do anything until I've spoken to the solicitor again. If the amount I get is as shown now, I will not be able to clear all the debts ex left me with and obviously have a higher mortgage to boot. I feel sick and just can't work out what's happened. Ex has also texted again as his money hasn't gone through so it's now my fault he is broke as I promised him it would go through on Friday.

Why is this stuff all so difficult?

OP posts:

roarityroar · 21/08/2017 09:39

It's another form of totally unnecessary, illogical government theft.

Yes I'm bitter at just paying just under a year's salary in stamp duty.

It's based on the value of the home and goes up in percentages like income tax, OP. Unless you already have a house and the bastards hit you with 8%. Thanks for that, Osborne.

Brittbugs80 · 21/08/2017 10:01

It appears some fees have been deducted, which is obviously fine, but I still can't see why I am £3K down. The bill/statement is incredibly confusing

Does it have a starting balance and end balance? All deductions should be listed.

AnneElliott · 21/08/2017 18:28

Do check the maths. Our rubbish solicitor couldn't add up and sent a completion statement showing we had to pay £3k to complete. We were actually owed about £1.5k.

Solicitor was most blasé about it when I rang. I really wish I'd complained at the time.

Go though step by step and check each figure is right and then check the adding up. Or do you have a friend that can do that for you?

SouthPole · 23/08/2017 22:08

Ring the office and ask someone to go through it step by step with you. If they say "she's away from her desk" say "that's fine I'll hold" and then stop talking.

We do completely statements all the time so they're easy for us to understand - I appreciate that this isn't so for my clients and ensure they get it. I also utilise simple statements.

pullingmyhairout1 · 23/08/2017 22:12

Did you get an answer op? If not you can send me the completion statement op. I've dealt with loads of these over the years.

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