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Buying a second home

mfz1 · 2018-04-16 11:00:29

Curious to know as couple I know are in this situation. The guy had bought his house prior to getting married the woman had lived with her parents up until then. They are now living in the same house with the house still being in the husband's name. They now want to buy a bigger house and have the means to, the husband…

Comments

Pixie5740 Posts: 14,515 Forumite

16 April 2018 at 7:57PM

mfz1 wrote: »

Hang on wouldn't they be exempt from the first 300,000 since the wife is technically a first time buyer? Never had a property to her name.

Technically?

Legally the married couple own one property and at the end of the transaction they would own two. Two is greater than one so the higher rate applies. It also means that as the couple pass the test, if you will, for the higher rate of SDLT the exemption for FTB cannot apply.

If you want to read more about it here is the link to the SDLT manual.

https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual

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