Effect of Renting on Mortgage Tax Relief

Deisce

Registered User
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114
Hi.
A quick question regarding renting out properties and its effect of stamp duty and mortgage interest relief. If I am an owner occupier (not first time buyer) for the last year and now wish to rent the whole property out will this affect my mortgage relief or stamp duty I paid last year when I purchased the house. Will the government reduce my tax relief as I do not live in the property or attempt to charge me more stamp duty than what I paid last year now that I have become a landlord rather than an owner occupier.

Deisce
 
This is essentially a Property Investment query so has been moved from Mortgages and Buying and Selling Homes.

See here.

You cannot claim owner occupier mortgage interest relief while renting the property out. You will be liable for a clawback of stamp duty. You should get professional advice.
 
Was the house new when you bought(ie did you buy from a builder) or was it second hand?

The reason I ask is if it were second hand then when you bought as an owner occupier(non FTB) then you would have paidsame stamp duty as an investor paid. So if you now become an investor there is nothing to clawback. Its different if it was a new house.
 
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I seem to recall our first payment going through the solicitor but it's a long time ago now...