Defer Stamp Duty

greemgoblin

Hi Everyone,

I should probably set the scene here.
So a few months ago,i purchased a property in Newport South Wales but my job has subsequently been moved to London and i am in need of a second home within striking distance of London.

Whilst i can afford the 10% deposit at 35K, the stamp duty is an obstacle due to it being a second home (Stamp duty Circa 15k).

Is there any possibility to defer the stamp duty for 1 year for savings to recover?
I dont mind paying interest or penalties, i just want to know if its possible and what i would need to do.

I understand renting is an option but why rent when i can purchase a property for almost the same monthly amount as the proposed rents in the area.

Thanks again for your time.

davidmcn

No, there's no facility to defer. If you delay paying it then you're also delaying registration of your title (as well as letting the penalties mount up), and certainly not an option anyway if you have a mortgage.