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  • FIRST POST
    • mystyfoxxy
    • By mystyfoxxy 6th Jan 18, 9:50 AM
    • 3Posts
    • 1Thanks
    mystyfoxxy
    Stamp duty refund + buy to let
    • #1
    • 6th Jan 18, 9:50 AM
    Stamp duty refund + buy to let 6th Jan 18 at 9:50 AM
    Considering purchasing a buy to let, whilst still in ownership of main property.

    Then selling main dwelling once the buy to let has gone through in order to emigrate.

    We then plan on renting for sometime and therefore will not be in ownership of a 2nd property.

    Can anyone advise me on if this makes me eligible for a refund of stamp duty?
    as effectively will mean I am back to owning one property within the 3 year curfew.

    Any light shed by anyone in the know I would be eternally grateful.

    Thanks
Page 1
    • Pixie5740
    • By Pixie5740 6th Jan 18, 9:57 AM
    • 12,191 Posts
    • 17,220 Thanks
    Pixie5740
    • #2
    • 6th Jan 18, 9:57 AM
    • #2
    • 6th Jan 18, 9:57 AM
    Considering purchasing a buy to let, whilst still in ownership of main property.

    Then selling main dwelling once the buy to let has gone through in order to emigrate.

    We then plan on renting for sometime and therefore will not be in ownership of a 2nd property.

    Can anyone advise me on if this makes me eligible for a refund of stamp duty?
    as effectively will mean I am back to owning one property within the 3 year curfew.

    Any light shed by anyone in the know I would be eternally grateful.

    Thanks
    Originally posted by mystyfoxxy
    You would not be replacing your main residence with another main residence ergo you would not be eligible for a refund.

    SDLT Guidance Note
    • SDLT Geek
    • By SDLT Geek 6th Jan 18, 10:09 AM
    • 266 Posts
    • 158 Thanks
    SDLT Geek
    • #3
    • 6th Jan 18, 10:09 AM
    • #3
    • 6th Jan 18, 10:09 AM
    You would not be replacing your main residence with another main residence ergo you would not be eligible for a refund.
    Originally posted by Pixie5740
    This is correct.


    But if you change the order of transactions you should not have to pay the higher rates of SDLT on the purchase. The order of events could be:
    (a) Complete the sale of your only property.
    (b) Move into rented property.
    (c) Complete the purchase of the property you wish to rent out.
    (d) Emigrate when you are ready.
    That way you only pay the normal rates of SDLT on your purchase as it is the only property you own at the time you buy it.
    • mystyfoxxy
    • By mystyfoxxy 6th Jan 18, 10:27 AM
    • 3 Posts
    • 1 Thanks
    mystyfoxxy
    • #4
    • 6th Jan 18, 10:27 AM
    • #4
    • 6th Jan 18, 10:27 AM
    Thank you for thinking the outside the box.This has provided us with a good solution.

    Thank you for your super speedy response much appreciated.

    Have a great day
    • Thrugelmir
    • By Thrugelmir 6th Jan 18, 10:49 AM
    • 58,979 Posts
    • 52,304 Thanks
    Thrugelmir
    • #5
    • 6th Jan 18, 10:49 AM
    • #5
    • 6th Jan 18, 10:49 AM
    Thank you for thinking the outside the box.This has provided us with a good solution.
    Originally posted by mystyfoxxy
    If you require a mortgage to fund the BTL purchase then you'll need to find a suitable lender. Ongoing you'll encounter issues with the future choice of mortgage products once outside the UK.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
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