Paying off my girlfriends mortgage on "our" house

Kynthia

rpc wrote: »

You have four options as I see it

1 - deed of trust
2 - stop putting money into an asset that isn't yours
3 - transfer of ownership and remortgage into joint names (JT or TIC)
4 - wife her

With the property in her name the above says everything I'd want to say.

With the BTL in your name you might need to talk to an accountant who specialises in buy to lets. The reason is there are pros and cons to adding her name to the property that need to be understood and then financially worked out to see which gives you the best result. If you lived in the property as your principle primarily residence at one point you can claim PRR for the last three years of ownership and lettings relief on any capital gains should you come to sell, which your partner would not be entitled to on her share if you owned jointly. However if you add your partner, you would get two annual CGT allowances to offset any gain when you sell in the future and you may be able to split any rental income in order to minimise the tax paid on the profit each year (particularly as unmarried joint owners don't have to split the income 50/50 which is useful if one would pay less tax on profits than the other).

Another thought is as you aren't married, putting the other's name on your properties might incur stamp duty costs. However this is not something I know much about so it might be worth investigating.