First time buyer with property abroad

davidmcn

ellie1105 wrote: »

Ok, what are the chances that anyone will look for me owing 1/4 of the property abroad?

This isn't howtocommitfraudandgetawaywithit.com.

kingstreet

davidmcn wrote: »

Ignore your mortgage advisor who is trying to convince you to commit fraud? What other dodgy stuff are they up to?

Quite.

Are you going to trust them with your business?

I wouldn't.

Penelopa.Pitstop

davidmcn wrote: »

That's only in relation to whether the additional rate of SDLT is payable for buying second/third properties - but the OP has already lost their first time buyer "virginity" so can't claim the FTB relief.

But if he/she is not first time buyer, then there will be question of extra stamp duty for second property, so I think it's quite relevant to situation. Stamp duty on UK property will have to be paid, but at least extra 3% can be avoided if properties abroad are below £40K.

ellie1105

What would be stamp duty on 180k property if property in Latvia is under £40k?

SDLT_Geek

But you also own a share of your dad’s house??

ellie1105

Yeah both properties comes to about £13k

Penelopa.Pitstop

ellie1105 wrote: »

What would be stamp duty on 180k property if property in Latvia is under £40k?

According to internet calculator £1100. So not bad.