SDLT woes

[Parlance]

Hi Guys, any advice warmly welcome:

Me and my partner (not married) bought a £400k house 2 yrs ago. The purchase was done in my partner's name as I had just started my own company and was detrimental to the mortgage application as I had no accounts. I paid for the majority of the house and pay the mortgage, even though it's in partners name. It is where I live and where I bring up my kids, register to vote, etc. We are now buying £350k house as a replacement - the £400k house will be sold. This, to my mind, represents a main residence replacement for both of us

I own 2 other properties, one of which was my main residence until 2010, when I had to move abroad for work. It has been rented out since. My partner does not own any othe property.

Is the surcharge due? If so, can I sell previous residence and get a refund?

Thanks in advance.

[maths]

I assume you are not in a civil partnership or married.

If you own a beneficial share in your current property then on the new joint purchase (whether pre or post a new purchase) the 3% will be due or reclaimable depending upon timing.

If you do not own such a share the 3% will be due on the new joint purchase. However, even if subsequent to the new purchase you then sold your own former residence the 3% would not be reclaimable because your former residence was not a residence within the three year period prior to "completion" of your new joint purchase (it ceased as such back in 2010).

[Parlance]

Thank you very much, Maths. Really appreciate this.

We are not married. The sale/purchase of our current/new residence will transfer on the same day. I do have a beneficial interest in the property being sold, based on the premise I put £250k cash into it and pay the mortgage but my name is not on the deeds. I am hoping that the additional 3% SDLT should not be paid....not that my conveyancer agrees with me!

Based on the above, would you agree that only the 'standard' Stamp Duty applies?

[maths]

On the basis you each have a beneficial interest in your property which is the residence of each of you and you jointly buy a new residence and both the sale of old residence and purchase of new residence "complete" on the same day the 3% will not apply.

[Parlance]

Fantastic, Maths. Your feedback to this and all other queries on this website is really appreciated