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House with annexe
Southernman
Posts: 605 Forumite
I've been reading articles and keep getting conflicting views.
From 1st April 16 are annexed considered to be a second home and subjected to higher rate stamp duty OR is it only if it is worth one third or less of the value of the main property?
Also would I be right in thinking getting a mortgage for a property with an annexe is a nightmare/impossible.
Our deposit would be £280k following the sale of 2 properties and we would be looking at property maximum price £500k.
Thanks
From 1st April 16 are annexed considered to be a second home and subjected to higher rate stamp duty OR is it only if it is worth one third or less of the value of the main property?
Also would I be right in thinking getting a mortgage for a property with an annexe is a nightmare/impossible.
Our deposit would be £280k following the sale of 2 properties and we would be looking at property maximum price £500k.
Thanks
Mortgage 1: May 2012 £90,000 April 2020: £47,000
Mortgage 2: £270,000😱 Jan 2019 £253,000 April 2020
Mortgage 2: £270,000😱 Jan 2019 £253,000 April 2020
0
Comments
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I was not aware but have an annexe myself, so did some binging:
http://www.sdlt.co.uk/news/change-of-stamp-duty-land-tax-sdlt-rules-granny-annex.html
http://www.cassons.co.uk/news-and-events/cassons-news/granny-flat-exempt-sdlt-surcharge
http://www.legislation.gov.uk/ukpga/2016/24/part/8/enacted
setion 128 . 50
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