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Second home stamp duty
Tino10
Posts: 4 Newbie
Looking at buying a second home near my parents. We live quite far away but visit often.
If I buy a second home in my name beside my parents and change deeds of our current house to my partners name - can we claim back the stamp duty? (avoid the excess second home stamp duty)
I would appreciate any advice.
If I buy a second home in my name beside my parents and change deeds of our current house to my partners name - can we claim back the stamp duty? (avoid the excess second home stamp duty)
I would appreciate any advice.
0
Comments
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I’ll assume that as you say “partner” you’re neither married nor in a civil partnership.Tino10 said:Looking at buying a second home near my parents. We live quite far away but visit often.
If I buy a second home in my name beside my parents and change deeds of our current house to my partners name - can we claim back the stamp duty? (avoid the excess second home stamp duty)
I would appreciate any advice.SDLT is based on beneficial ownership not legal ownership. Changing the legal ownership of your current home will make no difference if you expect to remain a beneficial owner.3 -
Do you have a mortgage on the current property?1
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Yes but could potentially pay it off with savings. Would there be a benefit to that?0
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Well you can't change ownership with an outstanding mortgage.1
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