English Desi

Registered with Property118.com
Wednesday 30th December 2015

Latest Comments

Total Number of Property118 Comments: 2

English Desi

11:10 AM, 2nd January 2016, About 6 years ago

Which Stamp Duty for new residential property?

Reply to the comment left by "Adrian Bond" at "30/12/2015 - 16:14":

Hi Adrian,

This appears to be a grey area in the consultation paper and I would suggest e-mailing the consultation team to make your views known.

Under the situation you describe, you would be liable for the 3% extra SDLT.

I am in the same boat in that I rent out my flat on a BTL mortgage and live with my parents, I am looking to buy a place to live in - under the consultation rules I am not exempt from paying the 3% extra,

My situation would be different had I been living in my own house as I would be changing my 'main residence' and I would be exempt from the new rules.... Read More

English Desi

22:06 PM, 30th December 2015, About 6 years ago

Which Stamp Duty for new residential property?

I read the consultation paper from cover to cover and note that those who own a rental property, but not their main residence, will be liable for the extra tax. There is an exemption for existing buy-to-let owners who own a main residence and at present, this does not extend to landlords who do not own their main residence.

This puts myself and many of my peers at a disadvantage as I own a one bedroom flat which I rent out and I live with my parents. Should I wish to buy a property to live in as my main residence than I end up paying the higher stamp duty land tax charges. This is in stark contrast to somebody who currently has a rental property and a main residence, who then then buys an additional property to live in. In this instance, this party is exempt from the charges.

Have I understood this correctly ? has the Second Home SDLT charges adversely affected me ? Will this be rectified post consultation ?... Read More