My partner and i bought a house as ftbs. Now we are going our separate ways. the house has been valued at 215. As i already effectively own 50% of the house, and his share is therefore valued at market price of 107.5, if i buy him out, am i liable for stamp duty? apparently even though both of our names are on the title deeds and mortgage, if i buy him out, i am classed as a second time buyer...i can't afford this, so i will lose my home.
Advice greatly appreciated!
Advice greatly appreciated!