Should I buy house in only wife's name or in joint names?

Cotgear

We are planning to buy 2 houses and I am bit confused if we should buy both the houses in joint names or each in individual names.

Presently, we plan to buy the first house and my wife has the eligibility for the loan with her income alone. We plan to do this in her name as if move abroad for few years then if we plan to sell it both need not come down to UK. The next house we plan to buy in my name for the same reason.

We plan to live in one and rent the other home.

I am still new to UK and do not know much about the intricacies of this so please provide suggestions of pros and cons of this approach and any other better alternatives.

Thanks in advance
Cotgear

00ec25

as you are:
a) a married couple (as opposed to unmarried);
b) "new" to the UK; and
c) intending to return abroad again in the future

you should consider paying for proper professional advice (from an accountant experienced in non resident tax) as your situation is very complex given the rules around tax domicile/residency
You are very exposed to tax rules which will change after 2015 in relation to non UK resident persons who sell UK property

Without knowing your current tax status it is impossible to give meaningful advice at this time

Jeffrey_Shaw

Post #2 is good advice.
Also: talk to a solicitor for an explanation as to how joint ownership works in England/Wales and as to the meaning of 'beneficial joint tenancy'/'beneficial tenancy in common'.
Lastly, both of you should make Wills for your E&W assets at least, no matter what else you own in other domiciles.