Divorce and 3% Stamp Duty surcharge

[Bob Gibson]

Hi. I divorced two years ago. My ex lives in the family home but my name remains on the mortgage as my ex cannot afford to take on the repayments herself for the foreseeable. (The mortgage is - and has always been since purchase in 2008 - interest-only. She covers this all herself but cannot afford to take me off the mortgage as the lender will then put her on a repayment mortgage, which she cannot afford.)

However I am trying to buy a home and believe I will have to pay the 3% surcharge. Under my divorce court order, I will receive 40% of the profit on the sale of my marital home when sold. It will not be sold until approx 2029. My question is this: If she is able to take my name off the mortgage within 3 years, can I reclaim the 3% surcharge, or is this not possible because of the issue of me ultimately receiving some of the equity when the property is eventually sold?

Really appreciate any help!

[bd6759]

If it is a property adjustment order, your interest in the former matrimonial is ignored for the purposes of the additional rate.