advice needed



New Member

I have completed 3 house sales to date where i have bought run down properties, done them up then sold them on for a profit. I have always lived in the properties for at least 18 months in the past so never had to pay capital gain tax. What i intend to do in the near future is move in with my partner who already owns his home and use the equity i have in my current house to buy and sell houses (one by one),id like to complete 2-3 per year depending on the amount of work required and how fast they sell. I do not have any other properties therefore it wont be my second home but i was hoping someone could please advise me what charges id have to pay if i was to do this, such as capital gains tax? and do i have to set myself up as a business? i have also read that a lot of mortgage company's wont lend to people if the house they are buying has been owned for less than 12 moths by the previous buyer which would mean i could only accept offers from cash buyers when i come to selling. Is this correct? Any advise would be appreciated. Thanks


Active Member
The first thing I would check out is whether living with your partner in a bought property might have an impact on your tax position. I would very much doubt this as you do not own the property but all the same it will be worth checking out with an accountant.

I believe some mortgage companies do operate a system which rings alarm bells if a property is owned for less than 12 months (or less than six months?). I think you need to put all of your ideas and thoughts on paper, approach an accountant and take advice. It would just take one loose link in the chain to potentially cost you a lot of money in tax if the project was not set up correctly.


Active Member
Do you not have to live in the property for it to be deemed your place of residence (your "first home" if you like). Otherwise how do you obtain the tax benefits?


The last thing you want is to redevelop the property then find there is an issue with it being your “residence” which can have a massive impact on taxation. I would take professional advice on this before you start.


New Member
The market is moving very quickly in many areas but the real value of a property lies not only in its relative cost but in its rental or refurbished value. You may not be able to buy for below market prices but if your overall profit margins are strong then that is the end game.