Let to buy?

fzbob

Pixie5740 wrote: »

Are you aware that if you don't sell both existing properties before jointly purchasing the new property the higher rate of SDLT will be due?

could you elaborate/explain for this dummy please?

Pixie5740

fzbob wrote: »

could you elaborate/explain for this dummy please?

There is a higher rate of SDLT which is applied when purchasing additional residential properties.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/570876/SDLT_Higher_rates_for_additional_properties.pdf

fzbob

Ah Right.
Thank you for that.

fzbob

another question...
As my Partners home was Obviously with an estate agent, and the buyer has backed out.
And it looks like she definitely will be buying to let.
Does she still have to pay the estate agent the agreed fee?

Thrugelmir

No as the property hasn't sold. Retaining the property as a BTL will have implications for any further purchase.

fzbob

Thank you for the reply.
and what about the solicitor involved, does the same apply?

Also, I've been told that the mortgage we want is a Let to buy one, not buy to let.
Does that change anything?