I have a small property ( subject to mortgage) that I have lived in on my own for a number of years. My partner and I would now like to buy a property together and I was hoping to rent out my property. However, I find that a new law, coming in in April 2016, would mean that I would be subject to an extra 3% surcharge ( stamp duty ) on the new purchase as the new house is a second home. Is that correct ?
Secondly, if that is correct, is the 3% on the whole value of the new purchase ? As I will only own half of it and it's my partners only ( 1st ) home ?
So confused. Would be grateful for some help please.
Secondly, if that is correct, is the 3% on the whole value of the new purchase ? As I will only own half of it and it's my partners only ( 1st ) home ?
So confused. Would be grateful for some help please.
Comment