Married and both own homes? Watch out for stamp duty when remortgaging

Former_MSE_Faye
Former MSE Posts: 147 Forumite
If you and your spouse/civil partner both owned property before getting together and are now remortgaging, watch out...
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'Married and both own homes? Watch out for stamp duty when remortgaging'

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'Married and both own homes? Watch out for stamp duty when remortgaging'

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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Is it the mortgage or the house value that has to below £80,000?0
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Surely you have legally acquired an interest at the point of marriage, unless there is a pre-nup agreement in place?
Can they enforce that in a court of law?!0 -
How does this work when you are left a property in a will? Typically say man and wife jointly own their current home and are then left a property, i.e. to one or both jointly. Then one or both have 2 properties. Or maybe one inherits the property but they decide to transfer 50% to the other, that is put it in joint names for simplicity.0
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If there is no consideration then no SDLT.0
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This is patently unfair because moving in with a partner (Or marrying) where no mortgage is involved will not trigger the tax even though circumstances are identical.I am not a cat (But my friend is)0
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Can someone help clarify what's best in these circumstance? Thanks
Live with GF in her house.
Own flat which rent out and part own another rented out property (no mortgage on that one)
Getting married next August
My flat fixed mortgage deal up in March (£40k), her house fixed deal up in June (£150k)
My (limited) common sense says to put both mortgages together under both our names. However, will this be more hassle/cost than it's worth?0
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