Solicitors saying 11k Stamp Duty... Help.

RGun

None.

I am providing all of the deposit from savings accumulated over 14 years.

RGun

Thrugelmir wrote: »

Is your mother providing some of the deposit?

None.

I am providing all of the deposit from savings accumulated over 14 years.

ACG

The solicitor probably has this wrong.
Your mortgage with Bank of Ireland/Post Office (Not Royal bank of ireland) is probably "Joint Borrower sole proprietor" - that means as you have said, both on the mortgage and only you on the deeds.

The solicitors are treating this like it is joint ownership and charging stamp duty plus the higher rate surcharge for second properties. If the person dealing with this at the solicitors does not understand, you need to speak to their manager. If the manager does not understand, you probably need to switch solicitors.

SDLT_Geek

At least it seems that Bank Of Ireland do have a joint borrower sole proprietor mortgage: https://www.trinityfinancialgroup.co.uk/article/bank-of-ireland-launches-joint-borrower-sole-proprietor-mortgage- Let us hope that is the product you are with.

Thrugelmir

RGun wrote: »

I phoned my solicitors and I explained there must be an error because this is my first property and that my mother did not want to be on the deeds, she doesn't want to have ownership on the home and only wants to help with the mortgage if need be. (Sort of like a guarantor)

Not intending to live in the property then.

davidmcn

Have the solicitors already received the mortgage offer? If not then they may just be assuming that the norm will apply (i.e. that the lender will be expecting borrowers and owners to be one and the same), rather than having misinterpreted the bank's instructions.

latte19

Why would she need to be joined on to the mortgage in the first place? She can help you out when needed but does the bank need to know this? If the bank is willing to lend without her input then why not just do that?

davidmcn

latte19 wrote: »

Why would she need to be joined on to the mortgage in the first place? She can help you out when needed but does the bank need to know this? If the bank is willing to lend without her input then why not just do that?

I presume they're not willing, hence the First Start product, which requires a guarantor.

SDLT_Geek

The information on the First Start mortgage offered by the Bank of Ireland https://www.bankofireland4intermediaries.co.uk/products/first-start/ indicates that it is flexible as to whether or not the "sponsor" goes on the title and takes a share of the property. It does allow for the structure of where the sponsor is to be a joint borrower, but not a joint owner.

latte19

Even at that though, usually a simple letter from a guarantor is enough, not to this extreme.