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Second Home Stamp Duty?
Comments
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Hi sorry to jump on the thread, I'm in a similar situation but querying something else.
I am a first time buyer and my boyfriend owns a house as the deeds are in his name. He has never lived in the house as his parents live there. We are looking to buy our first home together and I'm worried what implications this may have on us getting a mortgage? Eg. amount of deposit we would need to put down, whether we would actually get a residential mortgage on a second home, how much we could borrow.
Any advice would be appreciated! Thanks
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if you and BF buy the property together as co-owners then the higher rate of SDLT will be payable on the whole purchase price since he is an existing property owner going from owning 1 to owing 2 in totalGabby1995 said:Hi sorry to jump on the thread, I'm in a similar situation but querying something else.
I am a first time buyer and my boyfriend owns a house as the deeds are in his name. He has never lived in the house as his parents live there. We are looking to buy our first home together and I'm worried what implications this may have on us getting a mortgage? Eg. amount of deposit we would need to put down, whether we would actually get a residential mortgage on a second home, how much we could borrow.
Any advice would be appreciated! Thanks
presumably there is no mortgage outstanding on parents house otherwise he would not be an owner of it and the mortgage lander would have objected to the change. if there is no mortgage, then there is nothing to impact him buying a place to live and getting a mortgage with you1 -
Well, as its his house, kick the parents out go and live in it, no need for a mortgage. Sorted !Gabby1995 said:Hi sorry to jump on the thread, I'm in a similar situation but querying something else.
I am a first time buyer and my boyfriend owns a house as the deeds are in his name. He has never lived in the house as his parents live there. We are looking to buy our first home together and I'm worried what implications this may have on us getting a mortgage? Eg. amount of deposit we would need to put down, whether we would actually get a residential mortgage on a second home, how much we could borrow.
Any advice would be appreciated! Thanks
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