Hi,
I was wondering if people have had experience with this situation as I am not too clear from the Gov.UK website or other places I have searched.
I own 75% of a BTL with my brother, and my value of this is >£40k. I have never lived in this house and have previously lived with family/rented accom.
I plan to buy a house to live in, but ideally want to retain the BTL. As I have never lived in the BTL, am i still eligible for the higher rate SDLT as I will own more than 1 residential property after i purchase the new property? Although I fulfill this requirement, another requirement for the higher SDLT that the Gov.UK dictates what you do with your previous main home - of which I do not have...? So does this mean it is still applicable?
I initially assumed it would still apply and I would need to pay the extra SDLT, but have spoken to someone who was told the opposite by someone who deals with property. Many thanks in advance for any thoughts.
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