O
OPC
Guest
Myself and my partner bought an apartment for €200k in 2004 in Cork,after a 18months we decided to move to a 3bed house which we bought for €280k.
We converted the apartment mortgage to an interest only mortgage in the hope of letting it off, my solicotor advised me that revenue is due €5k once we rent it out,which i will duly pay.
Now we have found another house we like a 4bed,my question is if we sell the 3bed house but cant move to the 4bed for a while and move back into the apartment will i be liable for any cgt or stamp duty.
The current asking prices of the 3bed we bought is approx €340k
The 4bed is approx €400k and secondhand so i know im liable for stamp duty of 6%
Thanks
We converted the apartment mortgage to an interest only mortgage in the hope of letting it off, my solicotor advised me that revenue is due €5k once we rent it out,which i will duly pay.
Now we have found another house we like a 4bed,my question is if we sell the 3bed house but cant move to the 4bed for a while and move back into the apartment will i be liable for any cgt or stamp duty.
The current asking prices of the 3bed we bought is approx €340k
The 4bed is approx €400k and secondhand so i know im liable for stamp duty of 6%
Thanks