Stamp duty...first time buyer(sort of!...)

Jimmyjamwhambam

Hi wondering if people can help?

About to buy a house and I own a house(currently for sale) and my fiance doesn't

Can we put the property with just her name on the deeds and both our names on the mortgage to get around the stamp duty payment on the property?

is that fraud basically or will the lawyers let us do that?

Thank you

goodwithsaving

For the sake of a few thousand, why would you put yourself into the position of not having a legal standing on a house you are paying for?
And, as far as I know, it is not possible on a mortgaged property where you are also on the mortgage terms.

Jimmyjamwhambam

well its £5000, so hardly insignificant! We will be married in a few months so I would then have full entitlement to half of the property.

But if it's not possible then thank you for letting me know.

kingstreet

'Joint borrower, sole proprietor' is an option.

It would leave you with 100% of the liability and none of the beneficial ownership. This enables you to avoid the SDLT.

Speak to an independent broker about the options. This only works before you are married.

Jimmyjamwhambam

Yeah I do realise it is risky but we have business together and other joint costs so I have to hope that in the 2-3 months before we are married that she won't screw me over!

Thank you.