Additional Stamp Duty 3% on beneficial owners

[umeshg1]

Mr A is purchasing his first residential home with no mortgage

The money is lent by a family friend (Mr B) who is going to have a first charge on the property

Benefical owners of the property will Mr B's two children and Mr A. Mr B's two children own residential property

Question- Will the above ownership structure be liable to additional 3% Stamp duty

Thank you

[bd6759]

Do you mean, Mr A and Mr B's 2 children are buying a house?

[umeshg1]

That's correct

Thank you

[maths]

3% will apply.

[umeshg1]

Thank you