Stamp Duty Options

Rachaelr0e

Hi All ,


This is my first post. My partner has his own home that is worth around £95,000 which he still has a large mortgage on. We are looking to purchase our first property at around the £250,000 mark with a 10% deposit. We would be ready to buy in July 2017 but im trying to be organised with options.

Would you sell the other property which will increase in value over time or rent it out and then pay the stamp duty ? I considered gifting the property to a family member.

We wanted one extra home which we could sell in 40 years.

If only we owned the £250,00 property now and purchase the second home later we wouldn't have to pay the £9,300 stamp duty

Your help would be appreciated.