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  • FIRST POST
    • azz007
    • By azz007 15th Apr 19, 7:59 PM
    • 197Posts
    • 45Thanks
    azz007
    House deeds
    • #1
    • 15th Apr 19, 7:59 PM
    House deeds 15th Apr 19 at 7:59 PM
    Hello first post,

    Quick question, house is freehold. If I was to add a named person (son) onto the house deeds in addition to current deed owners.(parents) .

    Would that person (son) still qualify for a help to buy scheme via the HTB ISA with 25% govement top up If they ever decided to buy a property themselves. . Son has never had a mortgage or owned another property.
    Thanks
Page 1
    • G_M
    • By G_M 15th Apr 19, 8:09 PM
    • 47,795 Posts
    • 58,463 Thanks
    G_M
    • #2
    • 15th Apr 19, 8:09 PM
    • #2
    • 15th Apr 19, 8:09 PM
    No.


    ...........................................
    • azz007
    • By azz007 15th Apr 19, 9:04 PM
    • 197 Posts
    • 45 Thanks
    azz007
    • #3
    • 15th Apr 19, 9:04 PM
    • #3
    • 15th Apr 19, 9:04 PM
    No.


    ...........................................
    Originally posted by G_M
    Care to elaborate?


    Will Son be a first time buyer is my question and be entitled to the discounts and government top up via HTB ISA
    • davidmcn
    • By davidmcn 15th Apr 19, 9:09 PM
    • 10,916 Posts
    • 12,021 Thanks
    davidmcn
    • #4
    • 15th Apr 19, 9:09 PM
    • #4
    • 15th Apr 19, 9:09 PM
    Care to elaborate?

    Will Son be a first time buyer is my question and be entitled to the discounts and government top up via HTB ISA
    Originally posted by azz007
    He won't be a first time buyer (for this purpose, or for e.g. SDLT) if he's previously owned a property. What's the intended purpose of adding him to the deeds?
    • Cakeguts
    • By Cakeguts 15th Apr 19, 9:26 PM
    • 5,861 Posts
    • 9,154 Thanks
    Cakeguts
    • #5
    • 15th Apr 19, 9:26 PM
    • #5
    • 15th Apr 19, 9:26 PM
    Care to elaborate?


    Will Son be a first time buyer is my question and be entitled to the discounts and government top up via HTB ISA
    Originally posted by azz007

    It isn't just first time buyers it is also first time owners. Son will no longer be a first time owner so won't get the benefits that go to first time buyers/ first time owners.
    • Tom99
    • By Tom99 16th Apr 19, 4:52 AM
    • 3,915 Posts
    • 2,746 Thanks
    Tom99
    • #6
    • 16th Apr 19, 4:52 AM
    • #6
    • 16th Apr 19, 4:52 AM
    Not only that but they will pay the extra 3% stamp duty when they buy their own home since the will go from owning 1 property to 2. (providing their share of parents house is worth more than 40k)
    • HampshireH
    • By HampshireH 16th Apr 19, 4:59 AM
    • 1,540 Posts
    • 1,901 Thanks
    HampshireH
    • #7
    • 16th Apr 19, 4:59 AM
    • #7
    • 16th Apr 19, 4:59 AM
    I cannot see any sensible reason to add him to the deeds.

    It would reduce the benefits available to him and leave him with additional costs too
    • azz007
    • By azz007 16th Apr 19, 10:07 AM
    • 197 Posts
    • 45 Thanks
    azz007
    • #8
    • 16th Apr 19, 10:07 AM
    • #8
    • 16th Apr 19, 10:07 AM
    Thanks for the repsonses.

    Out of curiosity, How many names can be added to house deeds in total?
    • azz007
    • By azz007 16th Apr 19, 10:10 AM
    • 197 Posts
    • 45 Thanks
    azz007
    • #9
    • 16th Apr 19, 10:10 AM
    • #9
    • 16th Apr 19, 10:10 AM
    Well he has a HTB ISA atm. And so does his partner.

    If they both wanted to buy a property in the future, she'd be a FTB., as she's never owned a property, mortgage etc.

    So how would This then work, with government bonus, stamp duty benefits.?

    Thanks.
    • G_M
    • By G_M 16th Apr 19, 10:14 AM
    • 47,795 Posts
    • 58,463 Thanks
    G_M
    Well he has a HTB ISA atm. And so does his partner.

    If they both wanted to buy a property in the future, she'd be a FTB., as she's never owned a property, mortgage etc.

    So how would This then work, with government bonus, stamp duty benefits.?

    Thanks.
    Originally posted by azz007
    If they bought jointly, then his (part) ownership of another property would mean they were not FTBs and as already explained they'd have to pay the aditional 3% SDLT for a 2nd property.
    • G_M
    • By G_M 17th Apr 19, 11:17 AM
    • 47,795 Posts
    • 58,463 Thanks
    G_M
    If I was to add a named person (son) onto the house deeds in addition to current deed owners.(parents) .

    Would that person (son) still qualify for a help to buy scheme via the HTB ISA with 25% govement top up If they ever decided to buy a property themselves.

    No.

    ...........................................

    Care to elaborate?
    Originally posted by azz007
    that person (son) would no longer qualify for a help to buy scheme via the HTB ISA with 25% govement top up If they ever decided to buy a property themselves.
    • AnotherJoe
    • By AnotherJoe 17th Apr 19, 11:49 AM
    • 13,512 Posts
    • 15,967 Thanks
    AnotherJoe
    Your amateur attempt to evade care home fees / IHT isnt going to work via this route and will cause your (son, daughter, undetermined) even more issues as outlined above.

    Hopefully they are sensible enough to avoid your kind offer.

    You dont say if it is, but if the house is mortgaged its even more of a non starter.

    The answer to your other question is that a maximum of three people can be added since you cannot have more than four in total.
    • AdrianC
    • By AdrianC 17th Apr 19, 12:24 PM
    • 21,906 Posts
    • 20,632 Thanks
    AdrianC
    Out of curiosity, How many names can be added to house deeds in total?
    Originally posted by azz007
    Four. More than that, and you'll need to own it through a company.

    BTW, it isn't "deeds". They cease to exist, except for historical interest, when a property is registered with the Land Registry. Adding a new joint owner would trigger compulsory registration even if the property wasn't already registered.

    Perhaps it's easiest to go back a step. What are you actually trying to do here?
    • azz007
    • By azz007 17th Apr 19, 1:44 PM
    • 197 Posts
    • 45 Thanks
    azz007
    Four. More than that, and you'll need to own it through a company.

    BTW, it isn't "deeds". They cease to exist, except for historical interest, when a property is registered with the Land Registry. Adding a new joint owner would trigger compulsory registration even if the property wasn't already registered.

    Perhaps it's easiest to go back a step. What are you actually trying to do here?
    Originally posted by AdrianC
    Looking to add Sons name to the house title, house register.
    House is freehold
    • davidmcn
    • By davidmcn 17th Apr 19, 1:53 PM
    • 10,916 Posts
    • 12,021 Thanks
    davidmcn
    Looking to add Sons name to the house title, house register.
    Originally posted by azz007
    Yes, we know that. But why?
    • G_M
    • By G_M 17th Apr 19, 5:40 PM
    • 47,795 Posts
    • 58,463 Thanks
    G_M
    Looking to add Sons name to the house title, house register.
    House is freehold
    Originally posted by azz007
    What people here are asking themselves, is .... what is your motivation?


    If we understand the motivation, we can better advise whether this course of action, or indeed some other course of action, will or won't achieve the aim.


    * tax reduction?
    * avoiding future potential Care Home fees?
    * security for son?
    * simplify inheritance?
    * provide son with UK address to use for immigration purposes
    Or what?
    • AnotherJoe
    • By AnotherJoe 18th Apr 19, 5:57 AM
    • 13,512 Posts
    • 15,967 Thanks
    AnotherJoe
    Looking to add Sons name to the house title, house register.
    House is freehold
    Originally posted by azz007
    When (if) you do reply, it's not important if its freehold. What is relevant is, is it mortgaged.
    Please dont criticise my spelling. It's excellent. Its my typing that's bad.
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