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Stamp duty changes
Nobbler
Posts: 1 Newbie
Really hoping someone can help us with a query on the new stamp duty changes.
My husband is on the mortgage and title deeds for his ex's house as she is unable/unwilling to get a mortgage. She lives there with their two children. He does not contribute to the mortgage in any way, she pays it directly to the mortgage company and is noted as the 'owner' of the property.
We live in my house, we now have a joint mortgage and he's therefore on the title.
We would now like to buy a bigger house together but are not sure if we will be affected by a higher rate, since the changes on 1st April, as his ex's home might be considered as his first home.
Anybody got any idea if our assumptions are correct?
My husband is on the mortgage and title deeds for his ex's house as she is unable/unwilling to get a mortgage. She lives there with their two children. He does not contribute to the mortgage in any way, she pays it directly to the mortgage company and is noted as the 'owner' of the property.
We live in my house, we now have a joint mortgage and he's therefore on the title.
We would now like to buy a bigger house together but are not sure if we will be affected by a higher rate, since the changes on 1st April, as his ex's home might be considered as his first home.
Anybody got any idea if our assumptions are correct?
0
Comments
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Your assumptions are correct.0
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You will not be subject to the higher rates if you sell your main residence to buy another.
amazingly easy to find on google. NB, where there is a delay selling the main residence (middle box), it's actually 3 years and not 18 months to reclaim the higher stamp duty."Real knowledge is to know the extent of one's ignorance" - Confucius0
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