This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Stamp duty for 2nd property

Veaso
Posts:1
Joined:Mon Aug 14, 2017 1:46 pm
Stamp duty for 2nd property

Postby Veaso » Mon Aug 14, 2017 1:52 pm

Hello,

I purchased a flat with my ex wife in 2006, unfortunately we separated in July 2014, since then I have not lived in the property, I have been living with my parents where I have been registered to vote and has been my main (and only) residence.

I wanted to sign our flat into my wife's sole name as part of the divorce settlement, however, our mortgage provider would not lend my wife the mortgage amount on her own salary, therefore, to provide a home for our 6 year old daughter I have had to remain as joint owner of the property on the mortgage deeds. Our financial order confirms that if my ex wife sells the property the she will have 100% of the equity to buy another property for her and my daughter.

I am now in a position to buy a new house with my new partner (who is a first time buyer) and can't seem to get a straight answer on whether I will need to pay the additional 3% stamp duty. The flat has not been my main residence since 2014 and the only reason I am still the legal owner is because I need to provide a home for my daughter.

Obviously an extra 3% is a large amount and will impact whether we can afford to buy a house.

Any help or advice you can offer would be greatly appreciated.

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Stamp duty for 2nd property

Postby bd6759 » Mon Aug 14, 2017 6:54 pm

Apart from your name on the deeds, you do not appear to have any interest in the other property. That means the 3% will not apply to your new purchase.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Stamp duty for 2nd property

Postby maths » Mon Aug 14, 2017 10:13 pm

When you jointly purchased the flat with your ex-wife how was the beneficial interests split between you both?

If you each had such an interest what happened on the divorce?


Return to “Stamp Duty, Stamp Duty Land Tax, SDLT”