We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

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.
📨 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!

Need to sell - propery has tenant

124»

Comments

  • SDLT_Geek
    SDLT_Geek Posts: 2,988 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Also, if you buy a new main residence and then sell your old one you need to pay the extra stamp duty but can reclaim it if you sell within 3 years.  In this situation, even though this property is not a main residence would the same apply?  All the webpages I see say you need to sell your previous main residence for this to happen, but it seems worth investigating, and maybe this counts as it was a main residence many years ago.
    There are conditions to be met if a later sale of a property is to give an entitlement to a refund of the 3% extra SDLT paid on the new home.  One condition is that the person lived in the sold property as their only or main residence at some point in the three years leading up to the completion of the purchase of the new home.

    That condition would not be met for a later sale of the let property as it is over 3 years since OP lived in it.
     
    But it could still be relevant if OP owns another property OP has lived in within the last three years.
  • canaldumidi
    canaldumidi Posts: 3,511 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Also, if you buy a new main residence and then sell your old one you need to pay the extra stamp duty but can reclaim it if you sell within 3 years.  In this situation, even though this property is not a main residence would the same apply?  All the webpages I see say you need to sell your previous main residence for this to happen, but it seems worth investigating, and maybe this counts as it was a main residence many years ago.
    I suspect we're going off at a tangent as (in all likelihood) OP was renting 'the other side of the country' so the intricacies of SDLT reclamation are not relevant (yes, I know - it was me that raised this!).
    But to answer your quesion, the OP's main residence has clearly been wherever he lived 'the other side of the country' for 10 years, so no, selling the first property that he let out would not meet the requirement to 'replace a main residence'.



Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.3K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601.1K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.