Thanks for your reply.
I am afraid that you will have Stamp Duty to pay at the rate of 3% of the full Purchase Price, being £14,250.00.
I hope this assists and answers your question.
ok thank you. Can I ask why?
Stamp Duty is payable on "any consideration" paid for a property, so if you are paying £475,000 then thi sis classed as the consideration.