SDLT question

[littlecrocodiles]

DH and I are buying a house. We are currently renting and sold our last home 3.5 years ago.

I am one of 3 'owners' (ie named on the land registry) of a holiday house which was bought 9 years ago for £180k, and paid for outright by a relative.

It's our understanding that due my name being on this other property, we are liable for the increased SDLT. Is this correct?

I think you might be but if you purchase your house as a main home: you declare this, you might not have to pay the higher fees. And if you do you can claim it back anyway, if this is your main home you're buying. You have a limited time to claim it back.

You will be liable for the increased stamp duty as you have another property. The only way you could get a refund was if you came off the other property, and declared the new one as your main home. It doesn't matter the holiday home isn't your main home, you own more than one property is what they look at.

Yes you will have to pay the higher rate even though this purchase is your main home.

The higher rates do not apply where a transaction is the replacement of an individual’s only or main residence. However, the requirement is that the previous main residence must have been the purchaser’s residence at some point in the three-year period ending with the completion of the purchase. Sadly you are outwith the time limit.

Spouses are treated as one unit for SDLT.