Property News · November 3, 2016

I am a landlord buying a new home – will I pay extra stamp duty?


Two solicitors say I should pay an extra 3%, which amounts to £7,690 more, because I own properties to let – are they right?Q I own two properties in Scotland that I have rented out for years. My wife and I bought a house in Cornwall in 2009 and sold it this year in April to move to Devon, where we have been renting and looking for a house to buy. Now we have found somewhere, two solicitors have told us that we will have to pay an extra 3% stamp duty because I own the two properties in Scotland. This amounts to £10,440 instead of £2,750.I have been told that it can be claimed back later. This seems an unnecessary process and I can’t feel secure that I will get it back. The extra £7,690 is a considerable amount and would go a long way towards any alterations that we will have to do to the house. Continue reading…

Source : theguardian.com
Read more…I am a landlord buying a new home – will I pay extra stamp duty?

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