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First time buyer with property abroad

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Comments

  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    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
    kingstreet Posts: 39,374 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Penelopa.Pitstop
    Penelopa.Pitstop Posts: 1,166 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    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
    ellie1105 Posts: 12 Forumite
    Third Anniversary First Post
    What would be stamp duty on 180k property if property in Latvia is under £40k?
  • SDLT_Geek
    SDLT_Geek Posts: 3,008 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    But you also own a share of your dad’s house??
  • ellie1105
    ellie1105 Posts: 12 Forumite
    Third Anniversary First Post
    Yeah both properties comes to about £13k
  • Penelopa.Pitstop
    Penelopa.Pitstop Posts: 1,166 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    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.
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