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  • FIRST POST
    • london.cidade
    • By london.cidade 22nd Sep 16, 11:15 PM
    • 15Posts
    • 2Thanks
    london.cidade
    FTB and buy to let
    • #1
    • 22nd Sep 16, 11:15 PM
    FTB and buy to let 22nd Sep 16 at 11:15 PM
    Hello,

    I live on rent, would like to buy my first house then let it. Because the area that I live has better transportation links.

    Given that I am a FTB but desire to let my house, how will the stamp duty be considered ? as FTB or buy to let ?

    thank you
Page 1
    • Bluebirdman of Alcathays
    • By Bluebirdman of Alcathays 22nd Sep 16, 11:17 PM
    • 2,379 Posts
    • 2,313 Thanks
    Bluebirdman of Alcathays
    • #2
    • 22nd Sep 16, 11:17 PM
    • #2
    • 22nd Sep 16, 11:17 PM
    There are very few (if any?) mortgage providers that will allow BTL without owning your own home first. SDLT is the last of your concerns.
    • kingstreet
    • By kingstreet 23rd Sep 16, 8:02 AM
    • 29,648 Posts
    • 15,720 Thanks
    kingstreet
    • #3
    • 23rd Sep 16, 8:02 AM
    • #3
    • 23rd Sep 16, 8:02 AM
    Hello,

    I live on rent, would like to buy my first house then let it. Because the area that I live has better transportation links.

    Given that I am a FTB but desire to let my house, how will the stamp duty be considered ? as FTB or buy to let ?

    thank you
    Originally posted by london.cidade
    It doesn't matter to what purpose you put the property. You pay "normal" stamp duty when moving from owning 0 to 1 property.

    It's only when you move from 1 to 2 you will pay the surcharge, even if the new property is going to be your home.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • kingstreet
    • By kingstreet 23rd Sep 16, 8:04 AM
    • 29,648 Posts
    • 15,720 Thanks
    kingstreet
    • #4
    • 23rd Sep 16, 8:04 AM
    • #4
    • 23rd Sep 16, 8:04 AM
    There are very few (if any?) mortgage providers that will allow BTL without owning your own home first. SDLT is the last of your concerns.
    Originally posted by Bluebirdman of Alcathays
    A handful.

    They all calculate affordability as if it's a residential, to make sure the applicant isn't "gaming" the system.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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