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Stamp duty on 3rd purchase
wheatchief
Posts: 14 Forumite
Hello all.
I will try and keep this short. Basically I currently own 2 property, one Is my home and the second buy to let. I am remortgaging the two to release equity to buy a 3rd. My current home will be converted to buy to let and the 3rd property will be my home. So 2 buy to let's and 1 home.
The confusion is the current solicitors said I would not pay 3% stamp duty but due to hidden fees in the terms I am not happy to use them and got a quote from another. The other solicitors is saying I will have to pay the 3% stamp duty.
I'm confused and would appreciate any help and guidance. Thank you
I will try and keep this short. Basically I currently own 2 property, one Is my home and the second buy to let. I am remortgaging the two to release equity to buy a 3rd. My current home will be converted to buy to let and the 3rd property will be my home. So 2 buy to let's and 1 home.
The confusion is the current solicitors said I would not pay 3% stamp duty but due to hidden fees in the terms I am not happy to use them and got a quote from another. The other solicitors is saying I will have to pay the 3% stamp duty.
I'm confused and would appreciate any help and guidance. Thank you
Mortgage over payments.
Outstanding £92,072.56
Aim for 2011 = £1,500/£10,000
Jan - £0
Feb - £1,500
Outstanding £92,072.56
Aim for 2011 = £1,500/£10,000
Jan - £0
Feb - £1,500
0
Comments
-
You are not selling your main residence to purchase a new one and your portfolio is going from two to three, so the surcharge is payable.
If you sell your current main residence within three years, the surcharge will be refundable.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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