Can we get stamp duty refund on buy to let

quarryford_moth

Hi, we bought a buy to let and got the keys a couple of weeks ago. Two days later we found out about problem neighbours which wasn't declared by the previous owners and we are so hacked off we just want to sell it on.

As it was a second property we had to pay the Scottish equivalent of stamp duty. I think the answer to this is no, but does anyone know if we can get a refund, given it's not our main original residence that we're selling? It's all a bit of a mare. Thanks.

G_M

:rotfl::rotfl::rotfl::rotfl:

Sorry - shouldn't laugh. But the additional SDLT (I assume you mean this or the Scots equivelant? Not just normal SDLT?) is for purchasing 2nd properties.

You purchased a 2nd property. What you do thereafter is irrelevant.

davidmcn

quarryford_moth wrote: »

I think the answer to this is no

Guess what...

Ozzuk

I'm not sure if it is the same in Scotland, but you may find you cannot sell for 6 months (I think you can market it though). And obviously you'll need to declare the issue. This could end up costing you a lot of money - have you looked at other options, housing associations, lowering rent etc?

davidmcn

Ozzuk wrote: »

I'm not sure if it is the same in Scotland, but you may find you cannot sell for 6 months (I think you can market it though).

Yes, same issues apply. Though I wouldn't go so far as saying you cannot sell, it's more that the vast majority of mortgage lenders won't lend.

And obviously you'll need to declare the issue.

Only if asked - which isn't standard in Scotland.