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Stamp duty 5% additional - separated couple
Deniseconfused
Posts: 31 Forumite
My son split with his gf last year. At the moment he is still on their shared mortgage. She may or may not be able to take over the mortgage in the future - hopefully 🤞🏼
Looking at the SDLT ( england )
If he were to buy a house for himself - will he pay the extra 5% ?
If she later ( say within 3 years ) did get him released from the mortgage and deeds, would that count as disposing of his primary residence for the refund ?
He's currently living in one of my houses that Im going to sell to him so he can get his own place
If he were to buy a house for himself - will he pay the extra 5% ?
If she later ( say within 3 years ) did get him released from the mortgage and deeds, would that count as disposing of his primary residence for the refund ?
He's currently living in one of my houses that Im going to sell to him so he can get his own place
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Comments
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@SDLT_Geek will be able to confirm whether the dual relief applies to separating partners as well as spouses and civil partners?If you've have not made a mistake, you've made nothing0
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The special rules applying to separating spouses / civil partners, which @RAS mentions, do not apply to a boyfriend/ girlfriend situation.Deniseconfused said:My son split with his gf last year. At the moment he is still on their shared mortgage. She may or may not be able to take over the mortgage in the future - hopefully 🤞🏼Looking at the SDLT ( england )
If he were to buy a house for himself - will he pay the extra 5% ?
If she later ( say within 3 years ) did get him released from the mortgage and deeds, would that count as disposing of his primary residence for the refund ?
He's currently living in one of my rentals that Im going to sell so he can get his own place ( no mortgage )
So yes, if your son buys a home while still having a share in his former home, the extra 5% SDLT will apply.
But if he parts with all interest in the former home within three years, then I expect the conditions will be met for the refund of the extra 5%.2 -
That sounds sensible, stamp duty is getting pricey now isn`t it?0
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