Hi,
My friend owns a 1/3 share of freehold in block of flats (nominal value as all leases are long), but does not own the lease to any of the flats. They don’t own any other property at all. They are now hoping to buy a house which would be their main home, principal residence..
We’re not sure if ownership of a share of freehold constitutes ownership of a first property, leading to the house purchase becoming subject to higher rates of SDLT?
Any thought?
Many thanks..
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