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Please help with capital gains tax
SWB
Posts: 100 Forumite
Can any-one give me any advice please?
We currently own (or the mortgage company do!) our own home, mortgage is less than 50% LTV.
We have found another property we would like to buy.
We are with Mortgage Express and we will be able to port the 1.5% mortgage to our new home but we have to sell our first home!
I am thinking of several options.
1. Finish the work needed to sell our current home - this will take a lot of time and money and in the mean-time, we may lose the new house.
2. Buy the new home as a B.T.L, we wouldn't be able to transfer the extremely low mortgage between the properties.
3. Re-mortgage our current home as B.T.L, transfer the ME mortgage to the new home, finish our current home and sell it (with early redemption fees to pay).
Does any-one have any other ideas please?
Many thanks for your any help you can give.
We currently own (or the mortgage company do!) our own home, mortgage is less than 50% LTV.
We have found another property we would like to buy.
We are with Mortgage Express and we will be able to port the 1.5% mortgage to our new home but we have to sell our first home!
I am thinking of several options.
1. Finish the work needed to sell our current home - this will take a lot of time and money and in the mean-time, we may lose the new house.
2. Buy the new home as a B.T.L, we wouldn't be able to transfer the extremely low mortgage between the properties.
3. Re-mortgage our current home as B.T.L, transfer the ME mortgage to the new home, finish our current home and sell it (with early redemption fees to pay).
Does any-one have any other ideas please?
Many thanks for your any help you can give.
0
Comments
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3. looks good. Though try and find a BTL mortgage with no redemption penalties.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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