You’ll usually have to pay 3% on top of the normal SDLT (Stamp Duty Land Tax) rates, if buying a new residential property means you’ll own more than one.
If you’re replacing your main residence
You won’t pay the extra 3% SDLT if the property you’re buying is replacing your main residence and that main residence has already been sold.
If there’s a delay selling your main residence and it hasn’t been sold on the day you complete your new purchase:
- you’ll have to pay higher rates because you own 2 properties
- you may be able to get a refund if you sell your previous main home within 36 months
There are special rules if you own property with someone else or already own a property outside England, Wales and Northern Ireland.