If you own your own home, whether on your own or jointly, and buy another residential property, if you do not sell your current home, you will be liable to pay 3% more on each stage of any SDLT charge for the price paid. If you buy a new home and subsequently sell your existing property within 2 years you can claim the difference between the higher rate and standard rate if a claim is made within 3 months of the purchase of the second property.
Contact our conveyancing department for guidance.