Stamp Duty for couple

K

kneelo

Registered User
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Hi,

Myself and my fiancee plan on buying within the next year or so. She is a FTB but i am not.

Does this mean we have to pay full stamp duty or is there a "loophole" where by some/all of the stamp duty can be avoided as one party is a first time buyer.

Thanks in advance.
 
The majority of unmarried couples buying a place will need to raise funds jointly and put the house in joint names and in this case there is no avoiding the tax as far as I know.

If the FTB can buy the place on their own and their partner agree to have no beneficial interest in the place (until marraige) then I think you can avoid the duty. This is not a runner for most couples but it's worth looking into (via a good solicitor and financial advisor) as it is one of the most important financial pieces of advice you will ever seek
 
DerKaiser said:
Does this depend on whether you're married at the point of purchase pinky?
Click to expand...

It does not matter. Where purchasers purchase jointly and one is not a FTB and its a second hand house they pay stamp duty at Owner/Occupier rates.

Where one and one only buys and they are an FTB and no funds/mortgage from a non FTB are being utilised for the purchase , then FTB relief applies.

BUT - can the FTB obtain a mortgage on their own without assistance from the non FTB?

Also if the FTB buys and they subsequently marry, then the property can ne transferred into joint names without stamp duty arising.

If buying together, it is likely that they are pitching at a pricier property than if purchasing alone - i.e. one they would buy together.

mf
 
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