Readers’ forum: Two houses

We act for a husband and wife who are purchasing both a new main residence and an investment property in England. Their previous main residence was sold at the end of 2019 and they moved temporarily to rented accommodation. Had things proceeded as planned they would have completed on the main residence purchase first paying ‘ordinary’ (so without a 3% surcharge) stamp duty land tax rates and would have later completed on the investment property on which they would have paid the 3% surcharge.

Due to the Covid-19 situation and there being a chain completion on the purchase of the main residence has been delayed but the investment purchase is proceeding and will now complete first. In these circumstances it seems that ‘ordinary’ stamp duty land tax rates will apply to this purchase and will then again apply on the purchase of the main...