Who is an Owner Occupier?
An Owner Occupier is a person who purchases a house which is to be occupied by the purchaser, or a person on his behalf, as his only or principal place of residence and no rent, other than rent under the rent-a-room scheme, is derived from the property for a period of five years from the date of the current purchase. (It should be noted that the stamp duty legislation does not contain any limit as to the amount of rent which can be recieved by a person in respect of furnished accomodation in part of the house). A person purchasing a second house/apartment, including a holiday home, is not regarded as an Owner Occupier even where no rent is obtained from the letting of the property. This is because the property is not occupied as a principal place of residence.