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 Land and Buildings Transaction Tax (LBTT) rates range from 2%-10%, and it is payable on properties over £145,000.

If you buy an additional property you'll have to pay an extra 3% in LBTT, 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.