H
Helenka
Guest
Hello
This is my first post, but I've been reading the site for a while, it's very useful!
My boyfriend and I are planning to buy a 50% share in a house my father owns. Basically, I & my bf will be getting a mortgage from the bank for €313,000 (the house is worth approx €600,000), all three of our names (me, dad, bf) will be on the mortgage, but only bf & I will be making the repayments. Does this sound OK?
My question is about stamp duty: my boyfriend and I are both first time buyers, and we are really only buying half the house. Will we be paying stamp duty (if it ends up being valued at over the threshhold) on 1/2 the house, or on the whole thing? I mean, it's duty on the value of what you buy, isn't it? And we won't own the whole thing ... There's no way we could afford stamp duty on 600,000 -- we're already stretching ourselves to the limit to get the mortgage & be able to make the repayments ...
This is my first post, but I've been reading the site for a while, it's very useful!
My boyfriend and I are planning to buy a 50% share in a house my father owns. Basically, I & my bf will be getting a mortgage from the bank for €313,000 (the house is worth approx €600,000), all three of our names (me, dad, bf) will be on the mortgage, but only bf & I will be making the repayments. Does this sound OK?
My question is about stamp duty: my boyfriend and I are both first time buyers, and we are really only buying half the house. Will we be paying stamp duty (if it ends up being valued at over the threshhold) on 1/2 the house, or on the whole thing? I mean, it's duty on the value of what you buy, isn't it? And we won't own the whole thing ... There's no way we could afford stamp duty on 600,000 -- we're already stretching ourselves to the limit to get the mortgage & be able to make the repayments ...