First Time Buyer

J

Jane07

Guest
Can someone please clear something up for me.
I am hoping to buy a site with my Boyfriend. Neither of us has ever owned or built a house before. Are we considered First Time Buyers? Do we have to pay Stamp Duty? on the value of the site?
Any information would be appreciated.
 
Are we considered First Time Buyers?

Yes, you are but unfortunately the relief only aplies to the purchase of a house - not a site.


Do we have to pay Stamp Duty? on the value of the site?

Yes.

You need to make the choice: buy a house ad pay no stamp duty OR buy a site, pay the stamp duty and maybe actually build the dream house.

mf