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  • FIRST POST
    • tenantwithissue
    • By tenantwithissue 5th Jan 18, 5:02 PM
    • 13Posts
    • 3Thanks
    tenantwithissue
    First time buyer, married to 2nd Property owner
    • #1
    • 5th Jan 18, 5:02 PM
    First time buyer, married to 2nd Property owner 5th Jan 18 at 5:02 PM
    Hi all,

    I am curious about the following. I am a UK citizen with a spouse who already owns a property in Northern Ireland (rented) and England (which we both live in).

    Both property mortgages are in my spouses name and both properties are solely in my spouses name.

    I have opened a first time buyer saving account and I am saving the maximum amount of £200 a month. I intend to buy a first time property of my own within the new stamp duty threshold for first time buyers the property and mortgage would be solely in my name.

    Is this possible or will the fact my husband has a property mean it counts as an additional property and therefore not eligible for first time buyer threshold and require additional stamp duty?

    Thanks!
Page 1
    • Slithery
    • By Slithery 5th Jan 18, 5:08 PM
    • 483 Posts
    • 741 Thanks
    Slithery
    • #2
    • 5th Jan 18, 5:08 PM
    • #2
    • 5th Jan 18, 5:08 PM
    or will the fact my husband has a property mean it counts as an additional property and therefore not eligible for first time buyer threshold and require additional stamp duty?
    Originally posted by tenantwithissue
    Correct --
    • tenantwithissue
    • By tenantwithissue 5th Jan 18, 5:16 PM
    • 13 Posts
    • 3 Thanks
    tenantwithissue
    • #3
    • 5th Jan 18, 5:16 PM
    • #3
    • 5th Jan 18, 5:16 PM
    Correct --
    Originally posted by Slithery
    thanks - but under the first time buyer savings scheme, I still woudl get the bonus? (25%)
    • tenantwithissue
    • By tenantwithissue 5th Jan 18, 5:21 PM
    • 13 Posts
    • 3 Thanks
    tenantwithissue
    • #4
    • 5th Jan 18, 5:21 PM
    • #4
    • 5th Jan 18, 5:21 PM
    another website states this:

    "Im buying a house with my partner. One of us is a first-time buyer, the other is not. Can we still get Stamp Duty relief?
    If you’re married and jointly buying a property, then you both need to be first-time buyers to get Stamp Duty relief.

    Unmarried people can still get a reduction in Stamp Duty, if the only person named on the mortgage deed is a first-time buyer."
    • Aylesbury Duck
    • By Aylesbury Duck 5th Jan 18, 6:45 PM
    • 1,340 Posts
    • 1,731 Thanks
    Aylesbury Duck
    • #5
    • 5th Jan 18, 6:45 PM
    • #5
    • 5th Jan 18, 6:45 PM
    another website states this:

    "Im buying a house with my partner. One of us is a first-time buyer, the other is not. Can we still get Stamp Duty relief?
    If you’re married and jointly buying a property, then you both need to be first-time buyers to get Stamp Duty relief.

    Unmarried people can still get a reduction in Stamp Duty, if the only person named on the mortgage deed is a first-time buyer."
    Originally posted by tenantwithissue
    Which website states that?

    Edited to add: found it in the Money Advice Service website.
    Last edited by Aylesbury Duck; 05-01-2018 at 6:52 PM.
    • SDLT Geek
    • By SDLT Geek 5th Jan 18, 7:00 PM
    • 74 Posts
    • 51 Thanks
    SDLT Geek
    • #6
    • 5th Jan 18, 7:00 PM
    • #6
    • 5th Jan 18, 7:00 PM
    Which website states that?
    Originally posted by Aylesbury Duck

    This one: https://www.moneyadviceservice.org.uk/blog/stamp-duty-for-first-time-buyers-your-questions-answered


    It is not very accurate though! You would do better to look at this thread: http://forums.moneysavingexpert.com/showthread.php?t=5768596&highlight=sdlt


    The analysis is not quite as simple as saying (as some do) that for SDLT married couples are treated as a single unit. That is to oversimplify things and can lead one astray, as in cases like this.

    My analysis assuming your spouse retains both or one of the properties is as follows:

    (a) You can be the sole buyer of the new property if it is to belong to you entirely without your spouse having any share in it.
    (b) But for the purpose of seeing if the higher rates of SDLT are due on that purchase, the rules treat your spouse as a joint buyer. If the higher rates would be due on a purchase by either of you then they apply to the whole transaction.
    (c) From what you tell us the higher rates would have been due on a purchase by your spouse, so it follows that the higher rates are due on the purchase by you.
    (d) Although you have never acquired a property before, first time buyers' relief is overridden by the higher rates.
    (e) It would be worth checking the details of your spouse's property owning history, just in case there is something that gets you out of the higher rates of SDLT. Was there another property your spouse lived in but sold? That might get your spouse into the replacement exception. It would depend on various conditions being met, including both you and your spouse intending to live in the new property as your only or main home.
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