New sibgle shared ownership after a break up

Monika123

Hi
My husband and I recently ended our relationshio. We still live together but I'm thinking of buying a shared ownership property and move out as soon as possible.
But would it be possible for me to but the property if technically I'm still married?
Thank you

scholesfan88

Is your current home bought in your name?

[Deleted User]

Are you planning to sell your existing property ? From my understanding of all the help to buy schemes you cannot buy another property if you already have one, or a beneficial interest in one and married couples are deemed to hold assets of the marriage jointly even if its only in one persons name.

Retired_Mortgage_Adviser

For the purposes of H2B eligibility, one half of a married couple can indeed qualify as long as they don't own any property in their name at the time of completion.

Indeed, even one well known 60 year old property-owning MP has used this loophole to buy a second property in their spouse's name using H2B. Plenty of my well-off ex-clients have done the same. Thankfully (for the taxpayer) this loophole will be closed in April 2021 once the scheme is limited to FTBs.

Densol wrote: »

Are you planning to sell your existing property ? From my understanding of all the help to buy schemes you cannot buy another property if you already have one, or a beneficial interest in one and married couples are deemed to hold assets of the marriage jointly even if its only in one persons name.