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Stamp Duty on second house, help
Lc009
Posts: 1 Newbie
Hi, I currently have a buy to let property and looking to get a mortgage on a 2nd house with my partner. I'm aware of the new stamp duty tax, we are looking to buy a property for around £180000-£200000. am i correct in thinking we will have to pay £7500 in stamp duty if i made a purchase of £200000, (3% up to £125000 and 5% above £125000). Does anybody have any advice on getting around the stamp duty tax?
Many thanks
Many thanks
0
Comments
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You will pay £7,500. £1,500 on standard rates and £6,000 on higher rate as a second property.
You cannot 'get round' this tax without breaking the law.
You can however possibly be on the mortgage but not on the deeds.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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