New Stamp Duty - Second Home Main Residency

franklee

ognum wrote: »

My guess (and it's only a guess) is that there are few people who own a holiday home or BTL and don't own their own home. Though there was another poster a few days ago who owned a BTL and was renting.

I think it might be more common than first appears, there are often threads where people don't sell their home, let it out and rent somewhere else. Perhaps they need to relocate or perhaps they need somewhere bigger. However if they buy again without selling their old home then I do think they should be caught as it's really no different from buying a new home right away and letting the first one. The fact that they hopped into a rental themselves en-route makes no difference.

The OP is just the same as them except he only has a part share in the owned property.

These are just the people the legislation is designed for as they are preventing someone else from buying their old home / holiday home.

As for the 10 BTLs example, if that person sells their main home and buys another they are not increasing the number of properties they own AFTER the date the legislation comes in. The OP could do the same and buy now and be exempt if he could meet the date. His real gripe is that he is out of time. Every tax change there is a cutoff date where people falling on the wrong side feel it's unfair but there has to be a cutoff date and the 10 BTL landlord got lucky making his purchases in time.