• Stamp Duty

    By Guest on 25th Oct 2016

    Hi,
    I hav e a query on the new stamp duty rules. I currently have a residential mortgage and 2 buy to lets all of which I have had for over 10 years. I am thinking of moving, thereby selling the house on residential mortgage and buying a new one. Does having the 2 buy to lets mean I will have to pay the higher level, or would I be subject to the normal rate because I am changing my residential address? I can understand it if I was buying more property as an investment, but it seems unfair to be penalised with the higher rate if I just want to move home.

    Any advise would be much appreciated.

    Regards,
    Peter

  • 1 Answers

    By Guest on 27/10/2016

    https://www.gov.uk/government/consultations/consultation-on-higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties/higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties

    look for example 7 and 10

    If you are replacing residential property (and selling the current one) then standard stamp duty applies.

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