Moving house - Tax implications etc...

[Questionable]

Some of this will be very clear to you however please be patient as some of it is as clear as mud to me!

I'm moving jobs down the country.

I bought a 2 bed mid-terrace house as a FTB in November 2007, affordable house, mortgage of c. €192k.

I can sell my affordable house as long as I pay the value I paid for it, €198k, back to the Council. I'd be confident of selling it.

In relation to stamp duty, in order to be exempt from payment, do I have to wait until November 2009 to sell my own house?

I'm looking to move to the town I'll be working in, its 30 mins away, 20 miles.

A 3 bed semi-d there is €200k.

Am I liable for 7% stamp duty on this house?

I'd still have to raise finance in order to kit out the house, its unlikely a bank would raise the mortgage amount by €15k for this isn't it?

Is there anything else I should consider with regard to the move?

Any help would be great!

 

[plant43]

The 2 year rule only applies to rent out a house, not selling it.

You wouldn't be liable to stamp duty on a house if it's a new build and has a floor area under 125sqm.

It's unlikely a bank will extend a mortgage for a house fit out, however they might give a personal loan for this.

 

[Questionable]

Many thanks plant43. Happy to hear that news. The showhouse is available in the development, I was thinking of bidding on this, if it was about €215k or so, it could work in my favour as the bank are willing to lend me this extra amount on a new property and it would give me a low rate as opposed to a €15k loan at 8% if I did the house up myself.