cavanlad1982
Registered User
- Messages
- 34
Hi,
My brother (21) and I (24) are thinking of buying a site with a view to build and sell straight away. Both of us are currently renting and have never owned a house before.
We have a good site in mind at a reasonable price. My brother is a builder and works for our father's construction company so they would obviously build the house.
I have a few questions which I am hoping people could help me with here.
As we never owned a house before, do we get any concessions such as mortgage interest relief or stamp duty given that we are building to sell?
Will this affect our first time buyers status in future when we build\buy our own primary residences in a few years time?
I have searched a few threads on this already and these are the main areas that I can see we need to think about. Are there any other taxes or costs that we should also consider?
We would look for an interest only mortgage
Auctioneers fees and solicitors fees
Pay capital gains on any profit
Thanks
My brother (21) and I (24) are thinking of buying a site with a view to build and sell straight away. Both of us are currently renting and have never owned a house before.
We have a good site in mind at a reasonable price. My brother is a builder and works for our father's construction company so they would obviously build the house.
I have a few questions which I am hoping people could help me with here.
As we never owned a house before, do we get any concessions such as mortgage interest relief or stamp duty given that we are building to sell?
Will this affect our first time buyers status in future when we build\buy our own primary residences in a few years time?
I have searched a few threads on this already and these are the main areas that I can see we need to think about. Are there any other taxes or costs that we should also consider?
We would look for an interest only mortgage
Auctioneers fees and solicitors fees
Pay capital gains on any profit
Thanks