Hello all,
My partner and I (unmarried and not in a civil partnership) are looking to jointly purchase a property. She already owns a flat solely in her name that she will keep for work. I have just sold my previous home but looking to buy a new property closer to my work which is 2+ hours away. As she would own two properties on the day of purchase I believe we would be liable to pay the additional rate SDLT.
My Question: I have spotted a number of houses that are within my individual budget (with a mortgage) but would require further work to renovate. If I purchased one of those properties solely in my name, thereby paying the normal rate of SDLT, then my partner buys a share from me with her equity (our equities are roughly equal) to pay for extension/renovation, would she only pay the additional rate stamp duty on that second purchase i.e. avoiding the 8% hit above 250k and thereby giving us jointly an overall lower SDLT charge?
Or, is there a better way of structuring this?
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