Memery Crystal advise on c. £40m of residential transactions in 7 days prior to SDLT surcharge

The surcharge, applicable from 1^st April, applies to any buyers who are non-UK residents. This 2% on the full purchase price is in addition to the existing 3% surcharge payable by anyone buying a second property (and not replacing their main residence) meaning that overseas buyers who already own a property will now pay a 5% surcharge on top of the standard SDLT rates.

The Memery Crystal team on these transactions included our head of real estate private client Nicola Kravitz, senior associate Fayruz Cahill, associate Emily Farrow, solicitor Nickhil Mandora, Sarah Joseph and Abrar Omran. Additional support was provided by the team’s commercial property colleagues, construction associate James Ashwin, planning consultant Claire Saffer, and tax partners Alex Barnes and Hed Amitai.

A selection of testimonials that the team received last week from clients is as follows:

“You were wonderfully efficient throughout and it has been a pleasure working with you.”

“Thanks for all your hard work in making this happen, and your constant updates throughout the process. We felt fully informed and you did a great job.”

“We have felt in very safe hands and never at sea, bravo!”

“Thank you all for your work and efforts to get these two deals completed by the deadline.”