Question:
I am presently looking to buy a property with my partner.
She has previously owned a property abroad but not in this country and I have never owned a property. I have read that as first time buyers we would be exempt from stamp duty as we are buying the property for £200,000.00.
Is this correct?
Answer:
From 25th March 2010 for a period of two years stamp duty relief is available on the purchase of a property by an individual or individuals for not more than £250,000.00. The individual or all of them must intend to occupy the property as his or their only or main residence.
The individual or any of them must not have ever owned property either in this country or anywhere in the world.
Unfortunately you will be liable for stamp duty as your partner has owned a property abroad previously.
Registered in England and Wales. Registered No. OC313337