First time buyer

Arnie5

I am a first time buyer. My husband bought a property in the 1980s then sold it in the 1990s. He and I have been in rented accommodation ever since. If we buy a property together will we have to pay stamp duty? If I buy the property in my name only but it will be a home for us both will I have to pay stamp duty?

Emmia

As you're married and he's owned a property previously, you've lost your FTB status.

Sorry 

SDLT_Geek

Arnie5 said:

I am a first time buyer. My husband bought a property in the 1980s then sold it in the 1990s. He and I have been in rented accommodation ever since. If we buy a property together will we have to pay stamp duty? If I buy the property in my name only but it will be a home for us both will I have to pay stamp duty?

If you buy the property together, first time buyers' relief will not be available.

Strangely, the way the rules work, if you are the sole owner (with your husband having no share) then first time buyers relief could in principle be available.  The price must not be over £500,000 and you would need to be buying the property to live in as your only or main residence.

In practice, if your husband is providing significant funding for the purchase, it might not be practical for you alone to be sole beneficial owner.

What is the price?

Arnie5

SDLT_Geek said:

Arnie5 said:

I am a first time buyer. My husband bought a property in the 1980s then sold it in the 1990s. He and I have been in rented accommodation ever since. If we buy a property together will we have to pay stamp duty? If I buy the property in my name only but it will be a home for us both will I have to pay stamp duty?

If you buy the property together, first time buyers' relief will not be available.

Strangely, the way the rules work, if you are the sole owner (with your husband having no share) then first time buyers relief could in principle be available.  The price must not be over £500,000 and you would need to be buying the property to live in as your only or main residence.

In practice, if your husband is providing significant funding for the purchase, it might not be practical for you alone to be sole beneficial owner.

What is the price?

SDLT_Geek said:

Arnie5 said:

I am a first time buyer. My husband bought a property in the 1980s then sold it in the 1990s. He and I have been in rented accommodation ever since. If we buy a property together will we have to pay stamp duty? If I buy the property in my name only but it will be a home for us both will I have to pay stamp duty?

If you buy the property together, first time buyers' relief will not be available.

Strangely, the way the rules work, if you are the sole owner (with your husband having no share) then first time buyers relief could in principle be available.  The price must not be over £500,000 and you would need to be buying the property to live in as your only or main residence.

In practice, if your husband is providing significant funding for the purchase, it might not be practical for you alone to be sole beneficial owner.

What is the price?

The price is 305,000

SDLT_Geek

Arnie5 said:

SDLT_Geek said:

Arnie5 said:

I am a first time buyer. My husband bought a property in the 1980s then sold it in the 1990s. He and I have been in rented accommodation ever since. If we buy a property together will we have to pay stamp duty? If I buy the property in my name only but it will be a home for us both will I have to pay stamp duty?

If you buy the property together, first time buyers' relief will not be available.

Strangely, the way the rules work, if you are the sole owner (with your husband having no share) then first time buyers relief could in principle be available.  The price must not be over £500,000 and you would need to be buying the property to live in as your only or main residence.

In practice, if your husband is providing significant funding for the purchase, it might not be practical for you alone to be sole beneficial owner.

What is the price?

SDLT_Geek said:

Arnie5 said:

I am a first time buyer. My husband bought a property in the 1980s then sold it in the 1990s. He and I have been in rented accommodation ever since. If we buy a property together will we have to pay stamp duty? If I buy the property in my name only but it will be a home for us both will I have to pay stamp duty?

If you buy the property together, first time buyers' relief will not be available.

Strangely, the way the rules work, if you are the sole owner (with your husband having no share) then first time buyers relief could in principle be available.  The price must not be over £500,000 and you would need to be buying the property to live in as your only or main residence.

In practice, if your husband is providing significant funding for the purchase, it might not be practical for you alone to be sole beneficial owner.

What is the price?

The price is 305,000

So if you buy together the SDLT (at standard rates with no first time buyers relief) would be £5,250.

If somehow it works for you to be the sole owner, with him having no share, with first time buyers relief applying, the SDLT would be £250.