• Extra 3% Stamp Duty?

    By Guest on 07th Feb 2017

    Hi, our current main residence is the first floor of a period conversion. We are interested in buying our neighbour's ground floor flat and combining both flats into one. This is instead of selling the current flat and moving into a bigger new home. Would I have to pay the extra 3% stamp duty even though I will only have one flat (albeit a bigger one) at the end?

  • 2 Answers

    By Guest on 07/02/2017

    Yes, you are buying a second flat.

  • By Guest on 07/02/2017

    To echo the earlier poster, yes you will have to pay the extra duty. The basic rule is, if you are purchasing a residential dwelling and at the end of the day of completion you will own more than one dwelling, you will be liable for the higher rate. It doesn't matter that it will in the end become a single dwelling. As an aside, you will need the consent of the freeholder to do the conversion and and any mortgage lender who has a charge over your existing flat or who will have a charge over the new flat. Unless you have a specialist self-build mortgage this consent is unlikely to be forthcoming

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