stamp duty confusion

[dublove]

Trying to get my head around stamp duty. Here is the situation:

Partner and I (not married) are buying a home together. £280k.
I do not own any other property. I rent on my own.

My partner currently lives in her childhood family home. Since early 2013.
That home & deed was inherited by her & her two brothers, equal shares, from the parents who both passed away in late 2013.
One brother still lives there.
Grandmother recently was living there but is now in a carehome.
My partner sold her previous main residence elsewhere mid 2013 following divorce, to take care of her ill parents in childhood family home.

So at them moment I guess you would say my partners main residence is the childhood family home. That is the address her bank account are now in, car insurance etc etc.


So would we have to pay the additional stamp duty charge?

I read many snippets of info that are so vague and sometimes contradictory I cannot draw a reasonable conclusion.
To me, part inherited ownership is not the same as outright ownership.
She is replacing her for all purposes 'main residence'
Current 'main residence' will not be sold because the brother will still continue to live there.


Some articles I came across with examples...

A snippet from a Telegraph article:
"Someone who part-owns a property which is lived in by family, but does not own their own home, and sold a home before November 2015, would also be exempt."

Another snippet:
"If the home you are buying directly replaces your main residence, you will not be liable for the 3% surcharge, even if you own an additional home/s at the same time. This example is straight from the Government’s consultation document:"


Has anyone found themselves in a similar situation and what was the outcome?

[Welshbeef]

It is very clear.

If you own (regardless of %) a property then buy another and do not sell the first within 3 years you have to pay 3% extra on purchase (you'd get the 3% refunded if you sold within the 3 years).

Static caravans, log cabin lodges count as a second property too.

[Jockman]

Welshbeef said:

It is very clear.....

Static caravans, log cabin lodges count as a second property too.

You sure?

[Sarnie]

dublove said:

Trying to get my head around stamp duty. Here is the situation:

Partner and I (not married) are buying a home together. £280k.
I do not own any other property. I rent on my own.

My partner currently lives in her childhood family home. Since early 2013.
That home & deed was inherited by her & her two brothers, equal shares, from the parents who both passed away in late 2013.
One brother still lives there.
Grandmother recently was living there but is now in a carehome.
My partner sold her previous main residence elsewhere mid 2013 following divorce, to take care of her ill parents in childhood family home.

So at them moment I guess you would say my partners main residence is the childhood family home. That is the address her bank account are now in, car insurance etc etc.


So would we have to pay the additional stamp duty charge?

I read many snippets of info that are so vague and sometimes contradictory I cannot draw a reasonable conclusion.
To me, part inherited ownership is not the same as outright ownership.
She is replacing her for all purposes 'main residence'
Current 'main residence' will not be sold because the brother will still continue to live there.


Some articles I came across with examples...

A snippet from a Telegraph article:
"Someone who part-owns a property which is lived in by family, but does not own their own home, and sold a home before November 2015, would also be exempt."

Another snippet:
"If the home you are buying directly replaces your main residence, you will not be liable for the 3% surcharge, even if you own an additional home/s at the same time. This example is straight from the Government’s consultation document:"


Has anyone found themselves in a similar situation and what was the outcome?

This sounds applicable to your wife;

"Q: Buying a first home which will be
their main residence, but already
jointly owns an inherited property
that’s let out.

A: As the new purchase is in addition to the jointly owned rental property and no existing
main residence is being sold, the higher rate applies. However, if your client only inherited
a small share in the property, which never exceeded 50%, in the three years before
purchasing their first home, the higher rate doesn’t apply."

Taken from page two here;

http://www.nationwide-intermediary.co.uk/includes/...