Second Property SDLT
Posted: Tue Nov 14, 2017 1:17 pm
Hi,
Sorry if this isn't explained very well but after spending the day looking through guidelines i'm so unbearably confused that I am hoping somebody may be able to help?
Myself and my partner are just in the process of accepting an offer on his property and buying jointly. I have a property that I bought (to live in myself) 8 years ago, but when I moved in with my Fiance my mum moved in and took over mortgage payments. It is still a residential mortgage and as she is a family member no AST or any formal contracts exist etc.
The idea was to use the equity from my Fiance's property as the deposit and i 'gift him half of the property that my mum is living in with a view to enabling her to stay in the property for as long as she would like. My question is weather doing this means that we will be subject to the additional stamp duty.
My fiance's house has been my main residence since the start of the year (i'm on the electoral roll etc)
As I say any help would be hugely appreciated
Many Thanks
Sorry if this isn't explained very well but after spending the day looking through guidelines i'm so unbearably confused that I am hoping somebody may be able to help?
Myself and my partner are just in the process of accepting an offer on his property and buying jointly. I have a property that I bought (to live in myself) 8 years ago, but when I moved in with my Fiance my mum moved in and took over mortgage payments. It is still a residential mortgage and as she is a family member no AST or any formal contracts exist etc.
The idea was to use the equity from my Fiance's property as the deposit and i 'gift him half of the property that my mum is living in with a view to enabling her to stay in the property for as long as she would like. My question is weather doing this means that we will be subject to the additional stamp duty.
My fiance's house has been my main residence since the start of the year (i'm on the electoral roll etc)
As I say any help would be hugely appreciated
Many Thanks