I don't understand stamp duty on BTLs

[PastaWithWine]

I am a first time buyer.

My fiancee owns a house, and I live with him. He owns his house.

I am buying a BTL to rent out. I will stay with fiancee.

Will I need to pay stamp duty on my house?

Also, if I buy my BTL with my fiancee, will the stamp duty I pay be higher?

Speak to a Solicitor

Stamp duty is the least of your worries will they even give you a BTL mortgage without you owning a property of your own ?

But yes if your fiancé comes in with you it will be an additional property purchase for him so he will have to pay the 3%

Most BTL mortgages require you to own another house as otherwise its risky that you will need to move into the house which is against the terms

There's a 3% stamp duty ("SDLT") surcharge on second properties. For SDLT purposes a married couple is treated as single person. An unmarried couple is not. So: to avoid the surcharge buy the other place before you marry. And don't have him as a joint owner.

Have you done the SDLT calculator on gov.uk? www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

That might help and if not ask a solicitor.

If you buy your BTL with your fiance it will be a second property for certain.

Even if you bought alone but didn’t live in the property you need to pay the surcharge on SDLT. Exemptions are only for main residence. So it is irrelevant about your partner.

If you bought a property to live in and are not married, you would qualify for SDLT relief / lower %