Married but want a single applicant mortgage

Cscott139

As you already own a property have you factored in the additional stamp duty you need to pay regardless of whether you go on the mortgage or not?

cii4ps

Cscott139 said:

As you already own a property have you factored in the additional stamp duty you need to pay regardless of whether you go on the mortgage or not?

I don't see how that can be the case. If you're not mentioned on a deed or mortgage before, you're a first time buyer. “to count as a first-time buyer, a purchaser must not, either alone or with others, have previously acquired a major interest in a dwelling or an equivalent interest in land situated anywhere in the world” HMRC

davidmcn

cii4ps said:

Cscott139 said:

As you already own a property have you factored in the additional stamp duty you need to pay regardless of whether you go on the mortgage or not?

I don't see how that can be the case. If you're not mentioned on a deed or mortgage before, you're a first time buyer. “to count as a first-time buyer, a purchaser must not, either alone or with others, have previously acquired a major interest in a dwelling or an equivalent interest in land situated anywhere in the world” HMRC

The OP however has said they already own a flat and are keeping it.

Cscott139

You have said you already own a property and as you are married you are seen as one entity. You are buying an additional property that is not replacing one that you currently own so as far as I understand you will have the 3% to pay.

phillw

Bolto said:
I’m not concerned about that. If it’s in his name then rightfully he should get it.  

You'll need to find a lender who would be ok taking the risk of your husband refusing to pay the mortgage as they might find it difficult to evict you if you aren't named on the mortgage but could argue you've attained rights to live there.
Even without your name on the deeds or mortgage you could pitch up in court at any future date.
I'd say that buying a house for both of you to live in and only putting it in one name is more of a red flag.

cii4ps

davidmcn said:

cii4ps said:

Cscott139 said:

As you already own a property have you factored in the additional stamp duty you need to pay regardless of whether you go on the mortgage or not?

I don't see how that can be the case. If you're not mentioned on a deed or mortgage before, you're a first time buyer. “to count as a first-time buyer, a purchaser must not, either alone or with others, have previously acquired a major interest in a dwelling or an equivalent interest in land situated anywhere in the world” HMRC

The OP however has said they already own a flat and are keeping it.

"I have a mortgage on a flat that I bought before we met" Unless he's retrospectively been added to the deed/mortgage. That's not the case.

cii4ps

Cscott139 said:

You have said you already own a property and as you are married you are seen as one entity. You are buying an additional property that is not replacing one that you currently own so as far as I understand you will have the 3% to pay.

Proof? This isn't HMRC's definition. Between married couples where one earn a lot (more than the other), it's standard practise (among those on-top of their finances) to use your partner's lower tax allowance to increase your overall purchase power. Example, you both have your own tax allowance, independent income assessed against a separate tax bracket.

Cscott139

cii4ps said:

davidmcn said:

cii4ps said:

Cscott139 said:

As you already own a property have you factored in the additional stamp duty you need to pay regardless of whether you go on the mortgage or not?

I don't see how that can be the case. If you're not mentioned on a deed or mortgage before, you're a first time buyer. “to count as a first-time buyer, a purchaser must not, either alone or with others, have previously acquired a major interest in a dwelling or an equivalent interest in land situated anywhere in the world” HMRC

The OP however has said they already own a flat and are keeping it.

"I have a mortgage on a flat that I bought before we met" Unless he's retrospectively been added to the deed/mortgage. That's not the case.

But you are now married and you are seen as one entity and one of you owns a property already. He may get treat as a first time buyer by the lender and qualify for a slightly different deal but inland revenue aren't quite as generous.

Cscott139

This is taken from the government website on who pays the higher rate of stamp duty. People can avoid it if they aren't married.

If you’re married or in a civil partnership

The rules apply to you both as if you were buying the property together, even if you’re not.

If either of you individually have to pay the higher rates, you must pay the higher rates for the transaction as a whole (unless you’re permanently separated).

Thrugelmir

Bolto said:

Thrugelmir said:

Are you contributing to the deposit? 

Yes, well it’s our money that we’ve been saving. Does that make a difference to to application? We both have ISAs in our names that we’re filling up for a deposit. We’re at 30k collectively. Should we move my ISA into a savings account in his name?

Yes it does make a difference. Attempting to deceive the lender isn't advisable. Financial relationships are built on trust.