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Repaying BTL - should we swop ownership?

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AlwaysHappy Posts: 1,506 Forumite

11 November 2008 at 8:25PM in House buying, renting & selling

We are in the fortunate position of having the funds to repay our btl mortgage once it comes off its deal next month. At the moment its in joint names but once its repaid we are thinking from an income point of view it would be better in just my name as my husband is a higher rate tax payer. If we did this though, when (if) we came to sell, it would at that point be better to be in both names. Can anyone advise how far in advance (presumably years) we would have to change it again to count for two lots of capital gains? My husband thought we could maybe make it in future our main residence, but I think that this loophole has also been closed. As it stands we have no intention of selling, but nobody knows what may happen. Many thanks for any words of wisdom.

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Repaying BTL - should we swop ownership?

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