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Will there be capital gains tax?
powerful_Rogue
Posts: 8,451 Forumite
Hi,
Just wondering if anyone would be able to help with this quick query at all. This is the idea if it manages to pan out!
House 1 currently on the market. Borrow extra on the mortgage to use as a deposit for purchasing House 2 (along with new mortgage).
As soon as House 1 sells, use this to clear the old mortgage and the bit left over to pay towards the new mortgage.
Currently away of some ERC's and the stamp duty which would be refundable, but would I be liable to Capital Gains Tax in this situation?
Thanks in advance
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Just found the answer on a previous thread!
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