10:50 AM, 20th September 2022, About 6 days ago 15
Hi, I have inherited a property worth £900k with no mortgage. I am converting the house into two flats, I have planning permission and I plan to rent out both flats after the work.
I plan to get a development loan and after the work, I plan to get two individual buy to let mortgages.
I hear I need to make two leases for both flats.
My problem is as a freeholder I can’t have the freehold and leases in my name.
If I have one flat in my personal name and the other in a limited company, I think I will then be faced with stamp duty … if I sell to the limited company, and also stamp duty.
How do I solve this problem?
I only want to rent out the flats… can anybody help me to solve this please.
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