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confused!!!
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dave_wilson
Posts: 6 Forumite
hi all, totally confused again, my wife owns a house in her sole name, we want to now buy a house together,am I correct in thinking ,if we buy the home in joint names then this will incur extra stamp duty as my wife already owns a property(which is ready to put on maket to sell) would the exta stamp duty apply if the.¨¨ new purchase was was in my sole name only,or should we say nothing about the other place and hope we sell it quickly
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Yeh, you should definitely consider tax fraud, what could possible go wrong? /s
Consult an expert but AFAIK when you sell the existing house you'll get it back or if it's sold at the same time there's nothing to pay (extra)0 -
Joint purchase under any circumstances = stamp duty
You cannot hide it so don't try.
I beleive though i expect I will be corrected, that if you are married you are deemed as 1 and therefore the house is a martital asset and you wouldnt be eligible as a FTB.
If you could put a new property in your sole name but why your wife would allow that I don't know. If this is her house in her name did she invest soley in it also?
If I am wrong and you can, are you able to get a solo mortgage to cover your new house?0 -
What was wrong with the answer you got yesterday?
https://forums.moneysavingexpert.com/discussion/comment/75108640#Comment_751086400
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