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  • lovinituk
    lovinituk Posts: 5,711 Forumite
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    ACG wrote: »
    If you go down option one, you can reclaim the stamp duty once the property sells - assuming it is sold within 3 years of the new purchase completing.
    That's not correct. You can only reclaim the additional stamp duty if you are replacing your main residence. This other property has clearly not been the OPs main residence.
  • lovinituk
    lovinituk Posts: 5,711 Forumite
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    Yellie05 wrote: »
    This is turning into a really bad joke.. Are you able to advise me if im still entitled to half of the proceeding of the sale of the property even if I haven't paid into said property for nearly 10 years? Thank you
    No you wouldn't be entitled to anything.

    However why are you not reporting mortgage fraud? Your ex must have lied on the mortgage application if you say you know nothing about it. Report him to the police and the mortgage lender. It might be a quicker way to get you off the mortgage.

    Come to think of it - how did he even get you on the mortgage in the first place? Surely you would have needed to provide ID and sign papers at some point?
  • Yellie05
    Yellie05 Posts: 17 Forumite
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    lovinituk wrote: »
    That's not correct. You can only reclaim the additional stamp duty if you are replacing your main residence. This other property has clearly not been the OPs main residence.

    Exactly the other property hasn't been my main residence for many years, I have since lived in a couple of rented properties with my husband it is only now that we have got the deposit together to buy our own home - which is when it was brought to light that im still named on said other mortgage which i took out with my ex 10 years ago...

    This is the background story

    10 years ago I bought a house with my now ex boyfriend, we split up and a document was signed and returned to the mortgage company to remove my name, now as far as I can make out our mortgage was then sold to another company and my name remained unbeknown to myself at this point on the mortgage.

    Fast forward 10 years, when Myself and my Husband along with our bundle of joy are looking to buy our first house and I discover my name is still on the mortgage and land registry of the said property, Mortgage company are unable to just remove my name, tried to contact my ex and explain to him as id been advised by a solicitor for him to remortgage the house in his sole name or even remortgage the house in his and his wife's names (Yes my name is still on the mortgage and his wife is happily to live in the house he still legally owns with me?!!) (Nothing queerer than folk ay) but he isn't playing ball, and now to make things even more complicated he has now put the property up for sale.
  • Yellie05
    Yellie05 Posts: 17 Forumite
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    lovinituk wrote: »
    No you wouldn't be entitled to anything.

    However why are you not reporting mortgage fraud? Your ex must have lied on the mortgage application if you say you know nothing about it. Report him to the police and the mortgage lender. It might be a quicker way to get you off the mortgage.

    Come to think of it - how did he even get you on the mortgage in the first place? Surely you would have needed to provide ID and sign papers at some point?

    Im guessing you haven't read the history -

    10 years ago I bought a house with my now ex boyfriend, we split up and a document was signed and returned to the mortgage company to remove my name, now as far as I can make out our mortgage was then sold to another company and my name remained unbeknown to myself at this point on the mortgage.

    Fast forward 10 years, when Myself and my Husband along with our bundle of joy are looking to buy our first house and I discover my name is still on the mortgage and land registry of the said property, Mortgage company are unable to just remove my name, tried to contact my ex and explain to him as id been advised by a solicitor for him to remortgage the house in his sole name or even remortgage the house in his and his wife's names (Yes my name is still on the mortgage and his wife is happily to live in the house he still legally owns with me?!!) (Nothing queerer than folk ay) but he isn't playing ball, and now to make things even more complicated he has now put the property up for sale.
  • lovinituk
    lovinituk Posts: 5,711 Forumite
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    You can't generally just remove your name from a mortgage. The lender would want to know that a single party can afford the mortgage in their own right.

    If your ex is not being cooperative then you have little choice but to wait until the property is sold. Until it is you will have to pay the additional stamp duty on a new property you buy.

    Sounds like you will be better holding off on your purchase until the other property is sold.

    I believe even if a new property is purchased just in your husbands name, because you are married you are still seen as party to the new property for stamp duty purposes. Although do check the official guidelines to be sure.
  • ACG
    ACG Posts: 23,727 Forumite
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    Are you sure? Does it need to have been the last property you lived in?

    The reason I ask is according to the link below, it just says previously your main residence. Call it a technicality but it was previously our OPs main residence.

    It would be worth getting advice from the solicitor dealing with it.
    Use the online form to apply for a repayment of the higher rates of Stamp Duty Land Tax for additional properties if you sell what was previously your main home.
    https://www.gov.uk/government/publications/stamp-duty-land-tax-apply-for-a-repayment-of-the-higher-rates-for-additional-properties
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Yellie05
    Yellie05 Posts: 17 Forumite
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    ACG wrote: »
    Either you stumble across it/do your own research. You tell your broker it can be done and see if they find the lender(s) or you find a new broker.

    I do not think you are liable for the stamp duty, but that is for the solicitor to help you decide.

    As for the entitlement, I have no idea. You need to get legal advice, this is a different issue and not something I would want to comment on.

    I have told my husband to mention it to the broker - however i would like to do my own research do i simply just google mortgage lenders whom would accept single person but wife with mortgage?? sorry im a total novice to all this and i really dont know who to turn to

    thanks
  • lovinituk
    lovinituk Posts: 5,711 Forumite
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    ACG wrote: »
    Are you sure? Does it need to have been the last property you lived in?

    The reason I ask is according to the link below, it just says previously your main residence. Call it a technicality but it was previously our OPs main residence.

    It would be worth getting advice from the solicitor dealing with it.


    https://www.gov.uk/government/publications/stamp-duty-land-tax-apply-for-a-repayment-of-the-higher-rates-for-additional-properties
    My understanding is the word previously in that context means the one you have just sold/moved from.

    From here - https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
    If you’re replacing your main residence

    You won’t pay the extra 3% SDLT if the property you’re buying is replacing your main residence and that has already been sold.

    If there’s a delay selling your main residence and it hasn’t been sold on the day you complete your new purchase:

    you’ll have to pay higher rates because you own 2 properties
    you may be able to get a refund if you sell your previous main home within 36 months

    I think you're on very thin ground if you are relying on 'previously' meaning any house in the past, rather than the last one.
  • pimento
    pimento Posts: 6,242 Forumite
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    Presumably if the property is half yours then you're entitled to half the profit when it sells.

    That would probably go some way to covering the cost of the stamp duty and when informed, might concentrate your ex's mind.
    "If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair
  • ACG
    ACG Posts: 23,727 Forumite
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    pimento wrote: »
    Presumably if the property is half yours then you're entitled to half the profit when it sells.

    That would probably go some way to covering the cost of the stamp duty and when informed, might concentrate your ex's mind.
    Half the profit or half the profit minus any mortgage payments they have missed? In which case they may end up having to pay something towards those costs.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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