Hello
I can’t seem to find the correct rate at which I’m supposed to pay, as I’m in a unique situation.
I am not a property owner. I have never owned a property of any sort. I currently rent and will do so for the next 4 years.
I plan to buy an investment “buy to let property” this year to solely let out. It is a house. I will never live in this, it is solely an investment. It is £120,000
In 4 years time I plan to buy another property. This will be my first residential property I buy to live in. I will live in this property. It is a house. This property is £350,000.
In 4 years I will not sell the first property, I will own both at the same time.
My questions:
Which is my first time buyer home?
Is the btl classed as my first home, even though I won’t live in it, as it’s just an investment?
How much stamp duty do I pay on each?
What’s the best way to do this?
The options on the stamp duty website presume btl is a second property, but it will be my first property, yet not the first one I live in.
Please help
(Hope that all made sense)
Many thanks
Joe
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