Letting to buy
Anewname20 · 23/09/2020 11:00
Is anyone else letting to buy? We don’t want the hassle of being in a chain so we plan to rent out current property when we purchase the new one. We can claim back the stamp duty but I would appreciate knowing if anyone else has done this and whether claiming back the stamp duty was straightforward.
BentBastard · 23/09/2020 13:57
We did this because we needed to move more quickly than we were able to get house on market and sell.
Reclaiming tax didn't present any significant issues.
We were up front with tenant that house was going on market so it was a temp home not a forever home, which is what they wanted.
They had pets and children and were finding difficulty getting a property that would accommodate them so we were both able to accommodate each other's specific needs.
We did this pre-covid and had significant equity in our house (as in nearly paid off). During pandemic and without significant equity the mortgaging might be
More difficult, I really don't know for sure.
Anewname20 · 23/09/2020 15:02
Thank you. That is helpful.
JoJoSM2 · 23/09/2020 18:15
Yes, I’d also be more worried about money ie mortgage and repayments etc than the stamp duty.
Are you planning to rent the place out for a year? Given the current circumstances, I’d be worried that the recession will be pretty bad by then with prices lower and things taking time to sell.
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