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Stamp Duty Query
Comments
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No because A was not your main residence in the 3 years before you bought B.So whether or not you later sell A, you willnot be selling a former main residence.1
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Ah! Google! The font of all legal knowledge....abuttyout said:From google
Technically, in the UK, you can have as many residential mortgages as you like, but lenders are wary of people using them to buy properties they then rent out. Therefore, lenders often only allow a maximum of 2 residential mortgages – one for your main residence and one for a holiday home or a family member to live in
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So you cannot claim back the +3%.abuttyout said:Property A wasn't my primary residence during the 3yrs before I bought Bas I started renting with my partner. This Is why I'm asking the question should I have payed higher stamp duty as I never moved from a main residence.
Yes, because you were buying an additional property.
You did move from your previous main residence... unless you were homeless. It just happens that you didn't own that residence, so couldn't sell it.I also thought the same about not been able to have the two mortgages, that's why I waited so long to buy another as I was waiting to be bought out which never happened. Went to see a broker was I was fed up of renting and they said theres nothing stopping me having both, as long as my affordability was ok.
Whether somebody will lend you a second mortgage is different to whether you are in breach of the terms and conditions of your first mortgage.2
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