stamp duty for porting FTB mortgage?

impish

Hi, I'm a FTB wanting to port my mortgage because i'm halfway through a FTB 5 year deal with Natwest. Also, I would have a hefty redemtion fee to pay if i repaid my mortgage. As the title says, will I have to pay stamp duty on my new house because techinically I am still on a FTB deal?
Thanks

holly_hobby

Sorry to disappoint but you are no longer classed as a FTB for either mortgages or stamp duty land tax (SDLT) purposes - as you have already held an interest in a property i.e the one you currently live in.

So zero SDLT only up to 125k, between 125k to 250k 1% of the purchase price (250k -500k is 3% of the pch price).

Porting your current deal - although your lender may allow you to port your current mge product, you will still need to satisfy your lenders normal status and criteria checks as a new applicant.

Hope this helps

Holly

_Andy_

impish wrote: »

Hi, I'm a FTB wanting to port my mortgage because i'm halfway through a FTB 5 year deal with Natwest. Also, I would have a hefty redemtion fee to pay if i repaid my mortgage. As the title says, will I have to pay stamp duty on my new house because techinically I am still on a FTB deal?
Thanks

Ask yourself this - are you a first time buyer?
No.

roonaldo

Stamp duty is nothing to do with your mortgage deal or the lender. Your solicitor will ensure its paid.