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extra 3% stamp duty
propertydummy12345
Posts: 2 Newbie
Hi
I have a quick question re the extra stamp duty charge.
I own a flat i bought when i first started working around 2007. I lived in it for 5 years before relocating for work, it has been rented out by me since, and i have rented myself where I was working.
I now want to buy a property to live in, and keep the previous one i purchased to remain rented out.
On the mortgage side i have no issues, as a i have consent to let for the first property, and will get a residential mortgage again for the new property.
Am i liable for the extra stamp duty charges?
I think I am, but one thing im not sure about if it is just intended for new purchases you DO NOT intend to live in (so okay to already own rental properties).
Many thanks for the help.
I have a quick question re the extra stamp duty charge.
I own a flat i bought when i first started working around 2007. I lived in it for 5 years before relocating for work, it has been rented out by me since, and i have rented myself where I was working.
I now want to buy a property to live in, and keep the previous one i purchased to remain rented out.
On the mortgage side i have no issues, as a i have consent to let for the first property, and will get a residential mortgage again for the new property.
Am i liable for the extra stamp duty charges?
I think I am, but one thing im not sure about if it is just intended for new purchases you DO NOT intend to live in (so okay to already own rental properties).
Many thanks for the help.
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Comments
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hey what do you know, there's an exemption that exactly fits your case ... oh my bad no there isn't.
You are buying another property and not replacing your main residence, it doesn't matter if the Queen of Sheba will live in it, you have to pay.0 -
okay thanks for confirming the point, I can lower the budget on my property searching now to account for the extra SDLT.0
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Seems to get asked regularly. Some other threads:
https://forums.moneysavingexpert.com/discussion/5519035
https://forums.moneysavingexpert.com/discussion/5517047
https://forums.moneysavingexpert.com/discussion/5506816
There are others... this should keep you going.
Jx2024 wins: *must start comping again!*0 -
Please do excuse my abrupt reply above but there's about three posts a day here from people saying "am i due to pay it due to <flimsy excuse including 'being hard working'>" and in 99% of cases the answer is "heck yeh"
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