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David Jackson
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I appreciate this may be too late but I would also like to raise the point about the fairness of only applying the exemption from the tax for landlords buying a new home when they are selling their existing one. Rather than a landlord that is currently not living in their own property. In my case my partner and I both own a property, purchased before we were together. Last year we moved in to my house together and rented out hers. Our plan was to also rent out my house and buy a 3rd property. From April onwards this additional purchase would incur the higher stamp duty rate and therefore we would need to sell my house (as the main residence) first. However we face the challenge that the area and type of property we want to purchase rarely come to market (usually 2 properties a year) and therefore are snapped up very quickly (usually within a matter of days). With this in mind to stand a chance of getting one we would need to be able to buy very quickly and commit to the purchase. Therefore realaitically we would need to sell my house first and rent on a short term basis. However this would then mean we would have to pay the higher stamp duty despite having sold our main residence. The only other options would be to create an unnecessary chain and hold up either the sale of my house or purchase of a new property. Or to pay the additional stamp duty and later claim it back (something which we can't afford). I would like to hear David Cameron's explanation as to how this is fair.
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08 January 2016 07:31 AM
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From: David Jackson
08 January 2016 07:31 AM