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Can my wife buy her own property?
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MM0075
Posts: 1 Newbie
I am split up from my wife but not divorced. We have a house in both our names which is mortgage free. Is there any issue with my wife getting a mortgage for her own property when her name is still on the deeds of another property? Is there any tax implications here?
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Comments
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Aside from tax implications I'd be more concerned that your ex buys another property doesn't maintain the payments and the jointly owned property gets foreclosed upon. I maybe being harsh in your particular situation but that would be my main focus.Don't lie, thieve, cheat or steal. The Government do not like the competition.
The Lord Giveth and the Government Taketh Away.
I'm sorry, I don't apologise. That's just the way I am. Homer (Simpson)0 -
No problems mortgage wise, not sure about the capital gains tax implications, presumably at some point you will either buy her out or sell the property providing her some capital? at that point the property would not be her main residence, but provided it has been within the last 3 years she should be ok?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.0
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