Mortgage Co asking why Partners name is not on the mortgage? She is gifting

ACG

conormacleod1987 wrote: »

ooooo Lilla I think youve cracked it! Thank you very much. In all of the drama of trying to avoid stamp duty it may just be possible to claim it back! GREAT SUGGESTION.

Im pretty sure I was the first to mention it, I think I should be getting the credit (only messing, the main thing is you get over the finish line).

getmore4less

That other house needs to be her main residence if you want to get the stamp duty back.

Also to avoid the extra stamp duty she would have to have no beneficial interest in the one you are buying.
Not being on a mortgage or legal registered owner is not enough to avoid the liability.

conormacleod1987

ACG wrote: »

Im pretty sure I was the first to mention it, I think I should be getting the credit (only messing, the main thing is you get over the finish line).

Haha - you literally read everything! Yes you deserve credit actually. I was still in a flap when I read yours.

I am a bit concerned that it hasnt been her main residence since October 2014? IS this a problem ACG?

ACG

Looking at your other post with a little more information, I am not sure.
You need to speak to your conveyancer and get their advice, dont be afraid to question them as I think a lot will just say you have to pay it for ease.

There are few black and white rules, most people just go off the examples provided to make a decision - https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/570876/SDLT_Higher_rates_for_additional_properties.pdf

minimike2

Are you applying via a broker?

If BOI do not allow a "gifted" deposit from a non-borrower occupier (I don't know if they do or not) then they shouldn't be placing your business there. They may be asking just to satisfy themselves though. Just give the straight answer and go from there.

If they say they wont do it it is still a do-able situation on the high street.