Law On Stamp Duty

[HongKongphooey]

My husband has a property that is in his name only, that we have lived in for 15 yrs. Now we have put an offer in on a small house which would be in my name only. I don't own any other property, even the one we live in. What rate of stamp duty do we pay? Some people have advised that we have to pay the higher rate, and some swear it's the lower rate
Advice appreiated

[ubasses]

From the Govt website

If you’re married or in a civil partnership, buying a property and your spouse or civil partner already owns a property you may still be liable to the higher rates. But you may be able claim a refund if they then go on to sell it.

[Buenchico]

As I read it, the higher rate applies:

Quote:
"If you’re married or in a civil partnership, buying a property and your spouse or civil partner already owns a property you may still be liable to the higher rates. But you may be able claim a refund if they then go on to sell it"

However, if you'll actually be moving into the new house (rather than keeping it as a second home or letting it out), this would then apply:
"You won’t pay the higher SDLT rates if the property you’re buying is replacing your main residence and that main residence has already been sold.

If you buy a new main residence but the sale for your previous main residence is delayed you’ll pay the higher rates as you own 2 properties.

But you can get a refund for the amount above the normal SDLT rates if you sell your previous main residence within 3 years"

See here:
https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property

[HongKongphooey]

Thanks buenchico, I had a feeling we would have to pay the higher rate. Although we want to live in the new property as our main residence, my husband might keep the old house to rent out.