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Stamp duty first time buyer - just inherited share of property
Comments
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that is what you said in the opening post and is precisely why I explained you would no longer be classed as a FTBpeachykeen wrote: »Struggling to get my head around all this but thank you for taking time to reply. The house is going into three names, likely won't be sold. Paperwork still in progress.0 -
that is what you said in the opening post and is precisely why I explained you would no longer be classed as a FTB
Thank you for taking time to explain but there was also some information suggested that suggested otherwise - no need to be patronising when I've been honest and said I'm confused !0 -
Is there any reason why the 3 of you want to keep the house (other than sentimental value) rather than sell it.
Surely as you start out your "home-owner" life in your new planned house, your 33% cash will come in very handy, rather than a share in a house.How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)0 -
What happens when the rent does not cover the first big bill?0
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[FONT=Verdana, sans-serif]How close are you to your own purchase? If you complete on that before the inherited property is transferred to you, you will save up to £5,000 stamp duty.[/FONT]
[FONT=Verdana, sans-serif]Regarding retaining and letting the property:[/FONT]- [FONT=Verdana, sans-serif]Does it work financially as a BTL, most inherited properties are not ones which would be a 1st choice.[/FONT]
- [FONT=Verdana, sans-serif]If you were buying a BTL at the outset would you choose to go into partnership with your two siblings?[/FONT]
- [FONT=Verdana, sans-serif]Do you really want the hassle of managing a BTL[/FONT]
- [FONT=Verdana, sans-serif]If you only have 10% deposit for your own purchase an extra £70k is bound to get you a better mortgage deal. [/FONT]
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