We’re thinking about selling our current residential property and renting before buying a new-buildQ My partner and I own a residential property that we bought in June 2019 at a cost of £217,995. I paid £8,399 in stamp duty which was at the higher rate as I owned (and still own) a buy-to-let property.We have are interested in moving to a new-build property that is priced at £560,000 but it won’t be ready until February 2023 at the earliest. We want to avoid chain-related issues as best as we can, therefore our thinking is to sell our current residential property and move in to rented accommodation. And then, when the new-build property is available for us to reserve, we can do so knowing that we are not part of a long chain which could fall through at any time. Continue reading…
Source : theguardian.com
Read more…How much stamp duty will we pay on a new home if we own a buy-to-let?
