Hi advisors,
I am in the middle of getting an amicable divorce, financial situation is as follows:-
1. Marital home is owned solely by my husband who purchased the property prior to getting married and will continue to live there post divorce. I will move out of the marital home.
2. I own a buy-to-let property solely in my name that I purchased prior to getting married. The property is let with tenants and have no intention and have never lived there.
3. We own another buy-to-let property 50/50 that we purchased after getting married. We both raised funds to purchase the property by remortgaging our individually owned properties plus my husband made a substantial cash contribution. Although we own the property 50/50 I contributed 1/3 and my husband 2/3 to the cost of the property. There is no mortgage on this property.
4. There are no other properties involved.
We have agreed on a simple divorce financial settlement whereby I transfer my stake (50%) of the BTL property we own together to my husband and he raises around 50% of of the properties current market value via a new BTL mortgage, where those funds come to me.
I am in the process of purchasing another property that I will move into post divorce and it will be my main residence. I do not intend to sell my BTL property. I will finance this new property with the funds from the divorce settlement and by raising a new mortgage.
The question is under these circumstances will I have to pay the higher rate (+3%) SLDT when purchasing my new main residential home?
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