• Stamp Duty

    By Guest on 19th Jun 2018

    Can you please let me have your thoughts on the following:

    Mrs G & Mr A are purchasing a property together; they are not married (does being married have any significance) before the exchange of contracts on this property.

    Mrs G & Mr A each own a residential property, with neither having any interest in the other’s property.

    They both live in the property owned by Mrs G: the property owned by Mr A which he lived in as his main residence for 31 years until 2015. prior to
    moving in with Mrs G has been rented out, but is now on the market to be sold.

    Mrs G is selling her property to fund the purchase of the new property to be owned jointly by both Mrs G and Mr A, this will be their new main residence.

    Once Mr A has sold his property he will then give Mrs G half of the purchase price of the new main residence

    Mr A also has another property which is a buy to let which he has never lived in.

    What will be the implications of stamp duty in this scenario?

    Any help/advice would be greatly appreciated.

    Many thanks and kind regards

    Tony Arnold

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