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First time buyer
Jaymlfc
Posts: 5 Forumite
Is it possible to avoid stamp duty charge. For my partner to buy our new home as a first time buyer then I be added onto new mortgage at a later date??
She is not currently on any mortgage paper work for our existing home.
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Comments
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The HMRC guidance on SDLT relief for first time buyers makes it clear that having had a previous beneficial interest in a residential property means you’re not a first time buyer - it’s not just a question of whether you were named on the deeds or mortgage (https://www.gov.uk/government/publications/stamp-duty-land-tax-relief-for-first-time-buyers-guidance-note see Q15 towards the end of the document.) That means that if you and your partner have a formal agreement that gives her a share in your current property then she won’t be classed as a FTB.
That aside, will she be able to afford the purchase solo, including having a deposit that doesn’t involve you in any way and being able to pass affordability for a large enough mortgage?1
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