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SDLT Issue - Mortgage in Joint Names, Property in One Name
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ROC_2016
Posts: 1 Newbie
Hi,
Hoping someone can help with this issue.
I own two buy-to-let properties, but my partner (unmarried) does not own any properties. We are currently renting together, but we want to buy a house in the next few months.
Because of the changes to stamp duty, it should save us around £7500 for my partner to be named as the sole ‘owner’ of the property. However, to get the best possible mortgage terms, we want the mortgage to be in our joint names.
I think there are a few lenders that do offer mortgages with two names on the mortgage agreement but just one on the property deeds (Metro Bank? Woolwich? Barclays?).
Does anyone have any experience of this and can advise on the best options out there?
Thanks.
Hoping someone can help with this issue.
I own two buy-to-let properties, but my partner (unmarried) does not own any properties. We are currently renting together, but we want to buy a house in the next few months.
Because of the changes to stamp duty, it should save us around £7500 for my partner to be named as the sole ‘owner’ of the property. However, to get the best possible mortgage terms, we want the mortgage to be in our joint names.
I think there are a few lenders that do offer mortgages with two names on the mortgage agreement but just one on the property deeds (Metro Bank? Woolwich? Barclays?).
Does anyone have any experience of this and can advise on the best options out there?
Thanks.
0
Comments
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What you said.
Joint borrower/sole proprietor scenario with Metro Bank or Barclays/Woolwich mortgage. We've done cases in this way.
This is a return to the traditional "guarantor" scenario of the 80s and 90s.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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