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If I sell my second home, I want to pay off my main home but do I have to pay tax?

Posted on 6 March 2014 by Tommy


If I sell my second home, I want to pay off my main home but do I have to pay tax?

I live in my house of which I still owe £64,000..but have another house of which I owe £50,000...if I sell it for £75,000..make £25,.000 but want to pay all £25,000 off my house I live in...do I have to pay tax?

Tommy,

Unfortunately we aren't able to give tax advice, however I can arrange for an Independent Financial Adviser (IFA) to contact you, who will be better placed to give you the right advice.

If you'd like me to do so, then please contact one of our mortgage consultants on 0344 346 3672 who will sort out a convenient time for you to speak to an IFA.

Regards,

Simon

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