We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Home Protection Trust - Higher Rate SDLT and HTB eligibility.
Options
PaulB4141
Posts: 2 Newbie
I am looking to buy a new property and looking into all the information online regarding higher rate SDLT and Help to Buy eligiblity, I'm wondering if any one knows the answer to my question.
My situation is:
I own a property which I am selling so that I can hopefully move into the new place when i buy it. Therefore, I am planning to move out of my current main residence and move into my new main residence.
I own no other property.
I do however have a Home Protection Plan set up for my father's house with my brother's and my name on a Declaration of Trust. I don't live there and have never lived there.
Does anyone know if this is taken into account for either eligibility for paying the Higher Rate of SDLT or being eligible for Help to Buy on a New Build property? i.e. is it actually considered to be another property that I own?
Apologies if this has been asked before on the forums - my searching was unable to find the exact same situation.
Thanks in advance
My situation is:
I own a property which I am selling so that I can hopefully move into the new place when i buy it. Therefore, I am planning to move out of my current main residence and move into my new main residence.
I own no other property.
I do however have a Home Protection Plan set up for my father's house with my brother's and my name on a Declaration of Trust. I don't live there and have never lived there.
Does anyone know if this is taken into account for either eligibility for paying the Higher Rate of SDLT or being eligible for Help to Buy on a New Build property? i.e. is it actually considered to be another property that I own?
Apologies if this has been asked before on the forums - my searching was unable to find the exact same situation.
Thanks in advance
0
Comments
-
If you have been living in the property you are selling, and it has been your only or main residence, then the 3% extra SDLT should not apply when you buy a new home to live in, even though you might have a share in your father's property. Others will know about Help to Buy.0
-
Thanks - yes I'm selling my main and only residence and the new home will be my new residence.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards