New Home Owners And Snagging Forum

Home Owners => Solicitors and Legal Issues => Topic started by: Dietrium on May 19, 2019, 09:19:26 pm

Title: SDLT
Post by: Dietrium on May 19, 2019, 09:19:26 pm

I have recently quite unexpectedly inherited a third interest in a house (residential) from a distant relative. Apart from sentiments, the timing could not have been worse as I am about to exchange contracts for the purchase of my first home.

My solicitor has previously advised me that I would be able to use the first-time buyer SDLT relief but that was on the assumption that I did not have any other property. Does anyone know what the position would be given that I know have an interest in another house? I have never lived in that other house.

Any assistance would be much appreciated!

Title: Re: SDLT
Post by: New Home Expert on May 25, 2019, 09:47:38 am

Your third interest in the inherited house would more than cover any additional stamp duty you will have to pay. Most people would be happy and very grateful for this unexpected financial windfall.

Being a third owner, might reduce the SDLT your solicitor will advise you.
My advice be grateful for your bequest.