Quick question re stamp duty for first time buyers

T

thehun

Guest
Hi guys,

I purchased a house in May 2006 with my 2 sibblings (all first time buyers). We obviously didn't know about the exemptions that were brought in for last years budget.

My question is, have all three of us now completely lost all of our first time buyers exemptions for stamp duty?

If so are there any ways around this?

All comment appreciated
 
Thanks for that Clubman. I never knew about the exemption for 2nd hand buyers if the new build is under 125 sq. metres
 
Thanks for that Clubman. I never knew about the exemption for 2nd hand buyers if the new build is under 125 sq. metres
Click to expand...

It also goes further than that. If the new pricipal residence exceeds 125sqm, stamp duty is payable on the site value or 25% of the full value of the property, whichever is higher. Which means that you could possibly buy a house larger than 125sqm without incurring stamp duty
 
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