Changing 2 flats back into a house. Stamp Duty...

[toptop]

I currently live in the first floor flat of a converted house, recently the ground floor flat has come up for sale. Being in a sought after area I would like to buy the flat and then convert it back to a house. Firstly, the flat is worth �160k, making the whole property �310k. Would i have to pay stamp on the purhcase price of the lower flat (�160k) or pay stamp on the total mortgage amount of �310k? And would i need a special kind of morgage for this type of conversion?

Many Thank,
John

[pingping]

i would have thought that you would only need to pay stamp duty on the new flat you are purchasing as you already own the first floor flat. whoever buys it off you once converted should pay the stamp duty for the whole house. You wouldn't need a different mortgage, but you would need buildings regs approval and planning permission from the council to do any structural changes.

[MustafaTickl]

Simply phone the SDLT office on 0845 6030135 tell them what you are doing and get a reply that you can rely on.

[Jenga]

You only pay stamp duty on the property you are buying. You must of already paid stamp duty on the other flat. The mortgage has nothing to do with it. You could pay cash, but you would have to still pay the stamp duty.