Name on mortgage as part of divorce agreement

F1span

Hi

As part of my divorce I had to keep my name on the mortgage with my ex until the kids are 18 [now 15].

Is there any allowance with this on stamp duty if I can prove through divorce papers that I have nothing to do with the property apart from my name on deeds because my ex can't afford to buy me out.
I'm currently renting but want to buy.

Thanks in advance

SDLT_Geek

There are two avenues to explore to help you escape the higher rates of SDLT:

(a). Perhaps although you are liable on the mortgage you have already given up all your share in the property. That sounds most unlikely as you say your ex cannot afford to buy you out.

(b). There are some special rules where a “property adjustment order” ties you into ownership of a property with you ex. There has to be the right kind of court order. It is explained here: https://www.blakemorgan.co.uk/sdlt-surcharge-changes-made-by-the-autumn-budget-on-22-november-2017/. Where the special rule applies the property affected does not “count against” you for the purpose of the higher rates of SDLT.

F1span

I've just checked my solicitors letter regarding the divorce and it stated that as part of me keeping my name on the deeds that I am indemnified in respect to any payments to the property. Is that the same thing as you mentioned?

SDLT_Geek

No. That does not help. You are looking for a court order in favour or your ex saying the property must be kept.