You will not need to complete a Stamps 61 form in these circumstances. For example, if the house you are buying costs 85,000 and you have a mortgage of 70,000. Stamp duty is calculated on 85,000. So duty of 850 is payable, provided that a certificate of value for 250,000 is included in the document. Stamp duty is payable on the total purchase price no matter how many people are buying the property.
Stamp duty is payable on the total purchase price including any part deferred for later payment.
For example, if the total price is 90,000 payable in two instalments, say 50,000 now and 40,000 in two years time, stamp duty is calculated on 90,000, so that duty of 900 is payable subject to a certificate of value for 250,000, being included in the document. You can contact our Edinburgh Stamp Office where staff will be pleased to help you. These notes are for guidance only and reflect the position at the time of writing. They do not affect your right of appeal.