Does my wife owning a btl affect my purchase?

[Evolved]

Apologies in advance if this requires just a simple answer.

My wife has a BTL that she purchased prior to our marriage. I own the house we are living in and have done since we moved in together in 2002. We married in 2016. We are now looking to move and I propose to buy our new main residence in my name only again as I thought it would avoid the surcharge. Have I got it right please?

[someone]

It shouldn't matter whose name you buy it in because the condition about owning another property includes properties owned by a spouse.

So the real question you need to answer is what is happening to your current home? If you're selling it then you won't have to pay the higher rate due to replacement of main residence (whether it's in your name or joint names doesn't matter). If you're keeping it then the higher rate applies regardless of whether you buy it in your sole name or not.

Note that if you're planning on selling after you buy (bridging loan perhaps) then you have to pay the higher rate SDLT but you can reclaim it later (there are time limits) when you sell your current home.

[Evolved]

Thank you someone. That's what I was hoping for. I will be selling our current house (which is in my name only) and move into a new main residence, again in my name only. Just out of interest, if we bought the new main residence in joint names, would the surcharge kick in because of my wife's btl?

Kind regards

[someone]

It makes no difference - unless you and your wife don't live in the same house and, on the facts, you'd be deemed to have different primary residences which is unlikely but theoretically possible. (Although not for CGT purposes, only SDLT and council tax, one giveaway would be that you're each claiming single persons discount on your respective homes although that is not a necessary condition).

As long as you both live in the same house, you sell your primary residence before buying (which includes as part of a chain) and the house you buy is intended to be your new primary residence, the precise details of who owns what doesn't matter, it's as if you're both selling and as if you're both buying even if legally only one of you is selling or buying.

[Evolved]

Thank you again someone. Apologies for delay in acknowledging but went away for holiday 18th May,