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    • seea2018
    • By seea2018 15th Apr 18, 6:35 PM
    • 2Posts
    • 0Thanks
    seea2018
    LBTT refund if selling and moving country
    • #1
    • 15th Apr 18, 6:35 PM
    LBTT refund if selling and moving country 15th Apr 18 at 6:35 PM
    Hi,

    We purchased a property last year (June 2017) and need to sell it quite urgently as we have a family emergency at home and need to move back.

    It looks like we're going to be stung pretty badly with ERC by the bank (approx 12,000). Do you know if it's possible to reclaim LBTT paid on the property or should that be considered dead money too?

    Thanks!
    SEEA
Page 1
    • Slithery
    • By Slithery 15th Apr 18, 6:47 PM
    • 1,263 Posts
    • 1,983 Thanks
    Slithery
    • #2
    • 15th Apr 18, 6:47 PM
    • #2
    • 15th Apr 18, 6:47 PM
    Not a chance.
    • seea2018
    • By seea2018 15th Apr 18, 6:50 PM
    • 2 Posts
    • 0 Thanks
    seea2018
    • #3
    • 15th Apr 18, 6:50 PM
    • #3
    • 15th Apr 18, 6:50 PM
    Thanks for getting back to me, appreciate it. Any idea about ERC charges with the bank? We're with RBS
    • mije1983
    • By mije1983 15th Apr 18, 7:55 PM
    • 3,555 Posts
    • 20,306 Thanks
    mije1983
    • #4
    • 15th Apr 18, 7:55 PM
    • #4
    • 15th Apr 18, 7:55 PM
    Any idea about ERC charges with the bank?
    Originally posted by seea2018
    You'd need the check the terms of your mortgage, but it's unlikely you can avoid them.

    • Thrugelmir
    • By Thrugelmir 15th Apr 18, 9:32 PM
    • 62,111 Posts
    • 55,288 Thanks
    Thrugelmir
    • #5
    • 15th Apr 18, 9:32 PM
    • #5
    • 15th Apr 18, 9:32 PM
    Thanks for getting back to me, appreciate it. Any idea about ERC charges with the bank? We're with RBS
    Originally posted by seea2018
    No chance. As those are terms you agreed to when taking out the mortgage.
    "You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets." - Peter Lynch
    • dimbo61
    • By dimbo61 15th Apr 18, 10:28 PM
    • 10,153 Posts
    • 5,494 Thanks
    dimbo61
    • #6
    • 15th Apr 18, 10:28 PM
    • #6
    • 15th Apr 18, 10:28 PM
    Could you rent out the property with Consent to Let from RBS until the fixed rate period is over ?
    • Edi81
    • By Edi81 16th Apr 18, 6:52 AM
    • 640 Posts
    • 577 Thanks
    Edi81
    • #7
    • 16th Apr 18, 6:52 AM
    • #7
    • 16th Apr 18, 6:52 AM
    For other readers LBTT= Stanp Duty in Scotland.

    OP - no to both the LBTT and the ERC
    • davidmcn
    • By davidmcn 16th Apr 18, 9:24 AM
    • 10,127 Posts
    • 10,968 Thanks
    davidmcn
    • #8
    • 16th Apr 18, 9:24 AM
    • #8
    • 16th Apr 18, 9:24 AM
    Out of interest, in what circumstances did you think the ERC would be payable?
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