No stamp duty on 2nd property????

K

kkelly77

Registered User
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60
Hello all,

I am currently looking into buying a second property. The mortgage broker I am dealing with tells me I do not have to pay stamp duty on a 2nd property as long as it is a new development. Is this correct?!!! To my knowledge, my status as a first time buyer was gone as soon as I bought my current house.

I will be renting my exisiting house with the intention to live in the newly purchased property.

Thanks, K.
 
As far as I know you don't have to pay stamp duty on a newly developed house up to a size of 125 sq metres.
Am probably wrong though
 
redwifey said:
As far as I know you don't have to pay stamp duty on a newly developed house up to a size of 125 sq metres.
Am probably wrong though
Click to expand...
No. Spot on.

As long as you are an owner occupier (i.e. it will be your PPR), it is a new build, it is under the size threshold and comes with a valid floor area compliance certificate to certify it is under 125 sqm then you will be exempt.

Some details [broken link removed] from Revenue.
 
Well thats great news!!!!!! You've just told me I'm going to save a packet. Thanks for the advice

K
 
kkelly77 said:
Well thats great news!!!!!! You've just told me I'm going to save a packet.
Click to expand...
Do be sure to check that it is actually under the size threshold and more importantly that it does come with a valid floor area certificate to certify this.

Also, take care in any advice given to you by Mortgage Brokers/Estate Agents etc. in relation to taxes and legal issues. Many are very familiar with the rules and regulations, but you're always best to double check any information given to ensure it is correct.
 
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