Buy to let or holiday home?

There are lots of reasons why you might want to buy a second property. Before you go ahead, make sure it's something you can afford and that you're aware of all the potential costs involved.

Standard Stamp Duty rates range from 2%-12% of the property price. This tax is payable on properties over £125,000.

If you buy an additional property you'll have to pay an extra 3% in Stamp Duty, regardless of the purchase price of the property.

If you're considering buying a property at auction, our guide can help you understand what's involved and what costs you may have to cover.