FTB, stamp duty- investment property

L

Lara

Registered User
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71
Hi Again

I was told that as a FTB if I paid stamp duty on my first property (it being an investment) that I would be able to use my FTB 'no stamp duty' option on a subsequent property if it was for my own use- is this true?

Also the info on my planned investment is here if anyone has an opinion I'd be very grateful too http://www.askaboutmoney.com/showthread.php?t=63654- is it a crazy idea?

Thanks

Lara
 
No it is not true. Whoever is giving you advice doesn't know what they're talking about. Losing your FTB status to invest in an investment property is financial suicide.
 
Howitzer said:
No it is not true. Whoever is giving you advice doesn't know what they're talking about. Losing your FTB status to invest in an investment property is financial suicide.
Click to expand...
Yep, very bad advice. If it's the same person advising you on the 5 bed place then ask someone else.
 
Thanks- that puts a whole new light on it! Even worse it was a solicitor who told me about the FTB being ok to use on a subsequent property!

Its great that theres this site thats all I can say...

Lara
 
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