Transfer of ownership - Unmarried Couple

martindow

Pixie5740 wrote: »

You can't just go transferring ownership of mortgaged properties and I'm pretty sure you can't just transfer a mortgage into someone else's name.

If you are replacing your main residence with another main residence then you can reclaim the additional SDLT if you sell what is your current main residence within 36 months of purchasing the new property. That would seem a lot simpler and more tax efficient than what you're proposing.

The new SDLT is not to do with main residences. If you already have one or more houses you have to pay it when you buy another.

You can claim it back if you own one house and buy a second provided the first house is sold in a period of time (I thought it was less than 36 months). This will not help the OP.

LittleMax

martindow wrote: »

The new SDLT is not to do with main residences. If you already have one or more houses you have to pay it when you buy another.

You can claim it back if you own one house and buy a second provided the first house is sold in a period of time (I thought it was less than 36 months). This will not help the OP.

The refund aspect of SDLT is everything to do with the main residence. You can have any number of properties and still get a refund of SDLT on what becomes your main residence so long as you sell the previous main residence within 36 months.

If OP buys a property to refurbish, moves in to it and then sells his current home within 3 years, they can claim back the SDLT even though they already have another house that they rent out.