Stamp Duty Clawback on FTB`s

[daveco23]

Have just seen a report in the Indo saying that any First Time Buyers who bought second hand houses with their Parents as guarentors may be liable for stamp duty, even if they bought under the 317 k threshold.
Does anyone know if this also applies to FTB`s of new Build houses as well? I would be hit for quite a sum if this is the case.

 

[ClubMan]

See this thread.

Have just seen a report in the Indo saying that any First Time Buyers who bought second hand houses with their Parents as guarentors may be liable for stamp duty

I don't think that going guarantor in itself causes a problem - the problem arises if the parents are explicitly (e.g. named on the mortgage deeds) or implicitly (e.g. are contributing to the mortgage repayments) joint buyers of the property and are not themselves first time buyers.

I don't see why new build houses would be exempt from the same treatment of newly purchased houses.