To manage a complex relocation, and issues with our chain, we will have a short overlap where we will own both our old and new main residence. Our current main residence is in England, and our new main residence is in Wales. We are likely to complete on the new residence transaction a few weeks before completing the sale of our old residence. However, will will be moving into the new property ASAP after purchase.
Do we have to pay SDLT at the higher rate and reclaim it shortly afterwards? Or is there leeway to pay at the basic rate? If so how long? The cash flow impact of having to pay the higher rate would mean we need to revisit our plans!
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