Stamp Duty queary

JSP440

Hey lovely people, was wondering if anyone could confirm/answer something for me. 

Situation: 

I own with a mortgage my place. 

My gf owns her place with a mortgage. 

We currently live separately. We have been together 6 years. 

We want to buy a family home together joint mortgage. 

The idea is to sell mine. Move in to the new place and then sort hers out to rent. Needs a refresh when its empty before renting. 

I can afford the new house as a sole applicant or as a joint application. We would rather joint as it’s going to be our home. 

If we did a joint application would we have to pay the higher stamp duty? 

Or should I buy it solely in my name 

And once her’s is rented. Add her onto the mortgage? 

Thanks! 

SDLT_Geek

JSP440 said:

Hey lovely people, was wondering if anyone could confirm/answer something for me. 

Situation: 

I own with a mortgage my place. 

My gf owns her place with a mortgage. 

We currently live separately. We have been together 6 years. 

We want to buy a family home together joint mortgage. 

The idea is to sell mine. Move in to the new place and then sort hers out to rent. Needs a refresh when its empty before renting. 

I can afford the new house as a sole applicant or as a joint application. We would rather joint as it’s going to be our home. 

If we did a joint application would we have to pay the higher stamp duty? 

Or should I buy it solely in my name 

And once her’s is rented. Add her onto the mortgage? 

Thanks! 

Would you be buying in England so that the relevant stamp duty is stamp duty land tax?

If so and you buy together, then the extra 5% SDLT would apply if she keeps her previous home.

Even if the property is bought "in your name", if she has an underlying share in the property (for example because she puts in some of the capital) then you would be treated as joint buyers anyway for SDLT.

Keep_pedalling

Has she any experience of being a LL? If not she needs to do her homework and only go forward once she knows what her responsibilities are and the risks involved. 

JSP440

Keep_pedalling said:

Has she any experience of being a LL? If not she needs to do her homework and only go forward once she knows what her responsibilities are and the risks involved. 

She doesn't have any experience her self no, I have parents that have a portfolio who can offer advice etc but even still its a big job that needs taking seriously hence why wanting to move in together and get all the ducks in a row before taking that step. 

JSP440

SDLT_Geek said:

JSP440 said:

Hey lovely people, was wondering if anyone could confirm/answer something for me. 

Situation: 

I own with a mortgage my place. 

My gf owns her place with a mortgage. 

We currently live separately. We have been together 6 years. 

We want to buy a family home together joint mortgage. 

The idea is to sell mine. Move in to the new place and then sort hers out to rent. Needs a refresh when its empty before renting. 

I can afford the new house as a sole applicant or as a joint application. We would rather joint as it’s going to be our home. 

If we did a joint application would we have to pay the higher stamp duty? 

Or should I buy it solely in my name 

And once her’s is rented. Add her onto the mortgage? 

Thanks! 

Would you be buying in England so that the relevant stamp duty is stamp duty land tax?

If so and you buy together, then the extra 5% SDLT would apply if she keeps her previous home.

Even if the property is bought "in your name", if she has an underlying share in the property (for example because she puts in some of the capital) then you would be treated as joint buyers anyway for SDLT.

Yes, buying in England, sorry. 

Ah, I thought that would be the case. buying the place myself she would have no underlying share etc. it would all be my money. 

Thanks for the reply!