hi
sorry i sound misinformed or lack of knowledge as i am in this situation first time.
i am buying a new residential house and the house in which i am living at the moment will be rented out with new btl mortgage.
new house price is 192k and the house i am living in is valued at 140k
if i go with normal btl mortgage then for the 2nd house i have to pay £7100 sdlt as i will have 2 house on my name
if i form a ltd company and then sell my house to my ltd company at market price ( no cgt as i lived in this house for 5 years) then the new house will be the only house on my name as the old house is owned by company. this will save me extra 5% sdlt on my residential house.
though company has to pay sdlt also.
am i right doing this and will it really save me sdlt?
thanks
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