Property News · February 16, 2017

Will we pay higher stamp duty on a buy-to-let property?


My partner and I already own homes, but want to purchase another to help our children later onQ My partner and I – we are not married – live in his house, which he owns outright in his sole name. I also have a house in my name only. There is a mortgage on this property, which will be rented out once it has been renovated. We are thinking about jointly buying another buy-to-let house but won’t need a mortgage to do that. The property we are looking at will cost £220,000. Will we have to pay extra stamp duty because it is a second home?The main reason we’re buying this house is to provide security for our children when they need money later on in life for deposits or university fees. We also want it to help with our planned retirement in five years’ time. We are not buying the house to make money from a quick sale as any money we can get from it will not be touched until such time as it is needed. MB Continue reading…

Source : theguardian.com
Read more…Will we pay higher stamp duty on a buy-to-let property?

You may also like...