Stamp duty when one partner is FTB and the other is not

money_saving_matt

Hi all,

My wife and I are just buying our first house, but sadly I've owned a house in the past so am not classified as a FTB.

My wife is a FTB, so I was wondering whether it is possible to get a mortgage in both our names, but put the house in only my wife's name, to save on the stamp duty?

Is this possible (legally), and are there any drawbacks of doing this?

Thanks
Matt

luckyfool

No, its not possible. You will not get a mortgage lender that is willing to do this.

maninthestreet

matt_b wrote: »

Hi all,

My wife and I are just buying our first house, but sadly I've owned a house in the past so am not classified as a FTB.

My wife is a FTB, so I was wondering whether it is possible to get a mortgage in both our names, but put the house in only my wife's name, to save on the stamp duty?

Is this possible (legally), and are there any drawbacks of doing this?

Thanks
Matt

You may find the mortgage lender will want both your names to appear on the deeds as well as the mortgage.

money_saving_matt

That is a shame

Thanks for the replies