Can we avoid stamp duty as first-time buyers and then rent out our house? | Money | guardian.co.uk

Can we avoid stamp duty as first-time buyers and then rent out our house? | Money | guardian.co.uk

Q We are a professional couple in our late 20s/early 30s on a combined annual income of £90,000. We are currently renting in London but want to move to Suffolk. We have a deposit of £30,000 and are looking at places for less than £250,000.

We are keen to buy before the end of March to take advantage of the stamp duty waiver for first-time buyers. The trouble is, we won't be able to leave London for a year at least, so we would have to rent out the house in Suffolk.

Will we need a buy-to-let mortgage even though this will be the only home we own? We certainly can't afford a deposit of 25% and the higher mortgage repayments are also worrying. IM


A Whether you need one or not, a buy-to-let mortgage .....