However, there is a significant drawback of let-to-buy. This drawback is its impact on the buyer’s Stamp Duty Land Tax (SDLT) liability.
The higher tax banding for SDLT is often only payable on buy-to-let or second home purchases.
However, because SDLT is only payable on purchases, it cannot be charged to the property that is being converted to let.
Therefore, the higher tier of SDLT is passed to the entire purchase price of your new residential home.
If you are interested in a let-to-buy mortgage, our advisers would be happy to provide a free consultation.
We recommend that you click the ‘Contact Us‘ button and submit a mortgage enquiry.
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