C
champ
Guest
Hi,
I am new to this forum, so please excuse me if I am asking a repeat question.
I bought a new 3 bed house from a builder in sept 2003, now I am cosidering buying a new 4 bed house in the same estate(from a diffrent builder). I plan to make the 4 bed house my permanent residence(owner occupier).
While doing so , I would like hold on to my 3 bed house and give it up on rent.
What are the tax and stamp duty implications ? what is the best way to reduce these ?
Will I be liable to pay stamp duty on the new 4 bed house can I opt to pay stamp duty on my 3 bed house that I am currently occuping ?
Also what will be the max amount that banks usually are willing to loan for second house ? will they lend 90% ?
Any advice much appricated.
Thanks
I am new to this forum, so please excuse me if I am asking a repeat question.
I bought a new 3 bed house from a builder in sept 2003, now I am cosidering buying a new 4 bed house in the same estate(from a diffrent builder). I plan to make the 4 bed house my permanent residence(owner occupier).
While doing so , I would like hold on to my 3 bed house and give it up on rent.
What are the tax and stamp duty implications ? what is the best way to reduce these ?
Will I be liable to pay stamp duty on the new 4 bed house can I opt to pay stamp duty on my 3 bed house that I am currently occuping ?
Also what will be the max amount that banks usually are willing to loan for second house ? will they lend 90% ?
Any advice much appricated.
Thanks