E
eosh
Guest
I am a FTB who is hoping to buy a site.
The site I am interested in has full planning permission in place for a 2,000 sqft dormer bungalow.
Question 1 - Does this site still count as non-residential even though there is full planning with it - and would a stamp duty rate of 9% therefore apply?
Question 2 - There is actually a derelict cottage on the site which I was going to demolish, but as far as I know, it technically could be refurbished and extended. As there is an existing property on the site, would this allow me to qualify for the residential stamp duty rates and therefore be exempt from stamp duty as a first time buyer?
Any advice would be really appreciated.
The site I am interested in has full planning permission in place for a 2,000 sqft dormer bungalow.
Question 1 - Does this site still count as non-residential even though there is full planning with it - and would a stamp duty rate of 9% therefore apply?
Question 2 - There is actually a derelict cottage on the site which I was going to demolish, but as far as I know, it technically could be refurbished and extended. As there is an existing property on the site, would this allow me to qualify for the residential stamp duty rates and therefore be exempt from stamp duty as a first time buyer?
Any advice would be really appreciated.