L
LouiseG
New Member
Hi there. I’m sure it’s been asked before but I can’t find a clear and consistent answer to my question online anywhere.
We (my husband and I) currently have one property that we’ve lived in for years. We would like to move house but ideally keep hold of our existing home, switch to a buy to let mortgage on it, and rent it out. The new home would become our permanent full time residence.
Would this mean we’d be liable for paying an extra 3% Stamp Duty on the new house? The guidance online seems contradictory and dependent on things like whether you’ve lived in the home you intend to rent out. Also, the law appears to be due to change after Nov ‘18 but we won’t be close to completing on a purchase by then.
Can anyone answer this in plain English for me please? Thanks so much.
We (my husband and I) currently have one property that we’ve lived in for years. We would like to move house but ideally keep hold of our existing home, switch to a buy to let mortgage on it, and rent it out. The new home would become our permanent full time residence.
Would this mean we’d be liable for paying an extra 3% Stamp Duty on the new house? The guidance online seems contradictory and dependent on things like whether you’ve lived in the home you intend to rent out. Also, the law appears to be due to change after Nov ‘18 but we won’t be close to completing on a purchase by then.
Can anyone answer this in plain English for me please? Thanks so much.