Hello, I live in rented accomodation.
I own a BTL property with a tenant, which I have never lived in and has always had a tenant. This is my first and only property purchase.
I am now planning on buying a home to live in. This will be a joint purchase with my wife who is a first-time buyer.
This new property would 'replace my main residence' as our current residence is a rented flat, which we would obviously leave to move into our new home. Would I be exempt from the higher rate of stamp duty on this basis? Or even though I have never owned a main residence, I still get hammered by the tax?
Thanks for your help.
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