Stamp Duty and 2 seperate mortgages ?

C

Com1186

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Hi there i am currently in the process of buying a house with a good friend and work colleague, i am wondering the house is worth 450k and the stamp duty is 6%, but if both of us declare the house as our first house and are seprately paying 225k, (225k being 0% stamp) could we get away without paying the stamp? pls help confusing?
 
Com1186 said:
Hi there i am currently in the process of buying a house with a good friend and work colleague, i am wondering the house is worth 450k and the stamp duty is 6%, but if both of us declare the house as our first house and are seprately paying 225k, (225k being 0% stamp) could we get away without paying the stamp? pls help confusing?
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No, the stamp duty is charged on the sale price of the house, not on the value of the mortgage amount payable by each of you.
 
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