I COULD “STAIRCASE” THE 30% SHARE OF MY FLAT TO 100% BUT HOW WOULD IT AFFECT STAMP DUTY? – THE GUARDIAN

Paying SDLT for the entire property was not within budget back then and I am unsure if I count as a first-time buyer.

Q I bought a 30% share of my one-bed flat in 2014 and I’m now finally in the position to “staircase” to 100%. But I cannot figure out what the rules on stamp duty are in this case as first-time buyers are now exempt.

When I initially bought, I had the option to pay stamp duty for the entire property (not within budget at the time), or, as the price of my share was below the stamp duty limit, not pay at all unless I bought more shares.

I have asked mortgage providers and the housing association my flat is with whether or not I count as a first-time buyer and they have each suggested asking someone else (I’m still in the process of selecting a lawyer).

I can see the argument that I’m not a first-time buyer: I already have a mortgage. However, this is the first property I have bought or am buying and I’m still eligible to apply for other shared-ownership properties (as long as I sell my current one), which is usually restricted to first-time buyers.

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