Stamp Duty Exemption Eligibility

elfrider

I have recently purchased a property under the £250k threshold with my partner. I am a first time buyer. The mortgage is solely in my name as my partner did not have good enough credit to get a mortgage. The deeds are therefore in my name. However, the funds for the deposit on the mortgage came from the sale of my partner's property. We were told by our solicitor that because of this I am not eligible for the stamp duty exemption and therefore had to pay it. Was this correct?

googler

The rules are at www.hmrc.gov.uk .....

pawpurrs

If the deeds are only in your name, I would have just kept stum about where the deposit money came from.

G_M

I'm surprised.

If you qualify as a FTB under HMRC rules, and the property/mortgage are soley in your name, the origins of the deposit is irrelevant. Your partner is not buying the house - you are.

I would speak to your solicitor again, or complete the SDLT form yourself.

Or speak to HMRC.

quantumdefect

Do you mean the MORTGAGE deed is in your name? This may be different to what is recorded with the land registry. How is your partner protecting her interest in the property? How are you registered as tenants for example in order for her to recoup her equity if required?

To qualify under HMRC rules, I understand that no person being registered with an interest in the property can have had their name on the LR before, which your partner will have.

bigstevex

Unless their crazy and donated the deposit

quantumdefect wrote: »

Do you mean the MORTGAGE deed is in your name? This may be different to what is recorded with the land registry. How is your partner protecting her interest in the property? How are you registered as tenants for example in order for her to recoup her equity if required?

To qualify under HMRC rules, I understand that no person being registered with an interest in the property can have had their name on the LR before, which your partner will have.

quantumdefect

I'm still wondering about this?