Unfortunately not. Because you’re buying a home in partnership with our funding partners who are ‘corporate buyers’ and not first-time buyers, the government charges the partnership at a higher tax rate.
But, you only pay Stamp Duty in proportion to your ownership.
For example, if you start by buying 5% of a home, you only pay 5% of the Stamp Duty.
Home prices are divided into ranges with each range being charged at a different rate.
Rates from 23rd September 2022
Ranges of home price to be taxed | Tax rate for corporate buyers |
0 - £250,000 | 3% |
The next £675,000 (the portion from £250,001 to £925,000) | 8% |
As an example, on a £300,000 home, the total Stamp Duty due to the government would be £11,500.
This is 3% on the first £250,000 = £7,500 and 8% on the final £50,000 = £4,000
If you own 5% of the home, you only pay 5% of the Stamp Duty, which in this example is £575.