SDLT and Second Home

atilney

Hi, hoping someone can help me.

I own a property with an ex partner, who has been living in the old family home for 5 years now.  She wishes to remain in the house until our youngest is 18, another 5 years.

I have lived with my new partner for 4 years in her house.  The propery is worth £1,000,000 and has a £500k mortgage.  This is my primary residence.

We would like to get a new mortgage deal, but can only get the £500k required using a joint application.  That would mean I would own 25% of the propery (£250k share of mortgage).  What stamp duty would I be liable for?

If we were to move to another propery again worth £1,000,000 and I again own 25% what would the stamp dury be on this?

I also understand I will need to pay Capital gains tax when my ex partner does agree to sell, as the house we share has gone up in value and is not my primary residence.

I ideally would like to sell the home I own jointly with my ex partner, but this is not an option.

Any advice will be greatly appreciated.

 

GDB2222

Are you married to either of these people?

canaldumidi

What is the financial arrangement regarding your children?

But irrespective of the above 2 questions, you and your ex need to separate your finances and other links. That means either partner buys you out, or you gift her your share of the property (eg as part of the financial arrangement for children), or you sell and she moves somewhere she can afford.