There is a limited QSR ( IHTM22041) for successive charges on settled property ( IHTM16000) within the standard five year period. The requirements are
The first transfer can be any of the types listed in
IHTM22042, but it must have the effect
of creating an interest in possession in settled property and be
for the benefit of the person who is the transferor in relation to
the second charge.
There can be no QSR on the second charge if the property is
no longer settled (for example, because the person with an interest
in possession has become absolutely entitled).
