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2nd Home stamp duty if in separate names?...and mortgage 4 years after an IVA?
jon-jo
Posts: 24 Forumite
Dear Forum;
I live with my long term partner and children in a house we own, though the mortgage is in her name.
There is a holiday home we are interested in also buying, which I can afford on my own salary alone. If we were to buy this in my name, would this still count as a second home and thus the increased stamp duty...?
A caveat to this also is I am 4 years after a lump sum IVA being completed (Aug 2012), I have managed my finances well since then, including high interest credit card always paid off monthly. Is a mortgage impossible for me?, any providers I should be talking too?
many thanks
JJ
I live with my long term partner and children in a house we own, though the mortgage is in her name.
There is a holiday home we are interested in also buying, which I can afford on my own salary alone. If we were to buy this in my name, would this still count as a second home and thus the increased stamp duty...?
A caveat to this also is I am 4 years after a lump sum IVA being completed (Aug 2012), I have managed my finances well since then, including high interest credit card always paid off monthly. Is a mortgage impossible for me?, any providers I should be talking too?
many thanks
JJ
0
Comments
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Yes you would have to pay the extra 3% stamp duty. Its designed to stop/reduce people and couples owning multiple homes so first time buyers get a chance and increase stock for sale.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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