1. Porting a mortgage 2. CGT on selling a house I lived in but now rent

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M
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Hi,

It would be great if you could help me with a couple of interrelated issues, or point me in the direction of somebody who can.

Question 1. What would be the most effective way to get a mortgage company to allow me to port a mortgage to a property I already own when they say it is against policy but they had advised me previously that I could do it?

Background
In September 2011 I divorced my ex wife, as part of the settlement I she got property A and I got property B. At the same time as agreeing this settlement I bought out my girlfriends ex partner from property C and later moved in with her in to property C. At the time I had wanted to port the (cheap) mortgage which was on B to C (and get a BTL mortgage on B) but was told that given the names on the mortgage for B were different to C (ie I was adding my girlfriend) I could not port immediately but I could do it later after the names had been made consistent. I have now tried to do this but I am being told that I can't port to a property I already own, under any circumstances.

Question 2 Is there a period of time allowed for you to rent out a home you lived in, then sell it without incurring CGT?

Background
For other reasons it may be benefical for me to sell property B described above if I would not be liable for CGT. I lived in it for 5 years and have now rented it out for a year.

I look forward to hearing from you.

Leon


26/10/2012 00:00

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