Property News · September 15, 2016

We're not married, so can we avoid higher stamp duty on a second home?


My partner and I are thinking of putting a buy-to-let property in just one of our names to avoid the higher rate of taxQ My partner and I own our home outright. We plan to buy a second property to rent out using £60,000 in savings and a mortgage of £120,000 secured on our home rather than a buy-to-let mortgage. The second property is not for immediate profit but for the long term – our children will hopefully be able to raise cash from it to use as deposits in years to come.We aren’t married yet, so to avoid the extra 3% stamp duty on second properties we are thinking that it be worth taking one of our names off the property we live in and buying the second property in the sole name of the other person. From what I have read, if you are not married you are considered as two parties. Continue reading…

Source : theguardian.com
Read more…We’re not married, so can we avoid higher stamp duty on a second home?

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