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  • FIRST POST
    • 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
    • 695 Posts
    • 1,074 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
    • 2,978 Posts
    • 18,828 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
    • 58,454 Posts
    • 51,828 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.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • dimbo61
    • By dimbo61 15th Apr 18, 10:28 PM
    • 9,878 Posts
    • 5,313 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
    • 450 Posts
    • 311 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
    • 7,641 Posts
    • 7,773 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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