Stamp Duty has been calculated at the rates at this time and on the basis that this is not the purchase of a second home or buy-to-let property. If this is not the case please let us know as different Stamp Duty rates will apply.
Since the budget in November 22nd 2017 purchases by first time buyers are exempt from SDLT if the purchase price is below £300,000.00
If this does apply to you will not be required to pay the Stamp Duty detailed above.
In order to count as a first time buyer, a purchaser must not, either alone or with others, have previously acquired a major interest in a dwelling or an equivalent interest in land situated anywhere in the world.
This includes previous acquisitions by inheritance or gift, or by a financial institution on behalf of a person under an alternative finance scheme.
Relief is not denied by virtue of a previous acquisition as a trustee unless the purchaser was also a beneficiary of the trust.
Relief is also not denied if the purchaser owns or has previously owned non-residential or mixed-use property, as long as that property did not include a dwelling.
This restriction does not apply where the interest acquired was the grant or assignment of a lease with less than 21 years to run.
If the property is purchased jointly, all the purchasers must meet these conditions.