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Converting residential property into a BTL - SDLT/LBTT repercussions


steely3

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Hi all,

 

Looking for some advice on the question below as I have been on the unfortunate side of being charged 3% on my new residential property price although my converted LTB was priced and remortgaged significantly lower than the new residential.

 

Is it possible for me to convert my current residential property into a BTL and then rent/move in with a friend for a period of 6 months and then buy a new residential mortgage without incurring the 3% ADS on the purchase price on my new residential home and instead, it would be calculated off my BTL at the time of conversion?

 

Thanks for any help/suggestions.

 

Kris 

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