{"id":105645,"date":"2019-04-01T13:00:37","date_gmt":"2019-04-01T06:00:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/my-daughter-is-buying-me-out-of-a-house-must-she-pay-stamp-duty\/"},"modified":"2019-04-01T13:04:56","modified_gmt":"2019-04-01T06:04:56","slug":"my-daughter-is-buying-me-out-of-a-house-must-she-pay-stamp-duty","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/my-daughter-is-buying-me-out-of-a-house-must-she-pay-stamp-duty\/","title":{"rendered":"My daughter is buying me out of a house \u2013 must she pay stamp duty?"},"content":{"rendered":"


\nShe hasn\u2019t had a mortgage before, but I\u2019m told she will need to pay stamp duty on a mortgageQ My two daughters and I are the joint owners of a property for which we paid cash (so there is no mortgage involved). One of my daughters lives in the house and is now in the process \u2013 with her husband \u2013 of taking out a \u00a3120,000 mortgage so that she can buy her sister and me out (the house is valued at \u00a3180,000). On the strength of the \u00a360,000 that she will get from her sister for her share of the house, my other daughter is also thinking of taking out a mortgage to buy her first home. Although neither of my daughters has had a mortgage before \u2013 and so in my view are first-time buyers \u2013 we have been told that they will both need to pay stamp duty on their mortgages. Is this correct?JCA No, it is not correct that your daughters will have to pay stamp duty land tax (SDLT) on their mortgages because SDLT is not charged on mortgages but on what is called \u201cconsideration given\u201d for a property which usually means what was paid for a property (or a share of a property). It is also incorrect to think that your daughters should be eligible for first-time-buyer relief from SDLT \u2013 which lets first-time buyers off SDLT on the first \u00a3300,000 of properties costing up to \u00a3500,000 \u2013 because, strictly speaking, they are not first-time buyers because they have previously owned property. In the words of HM Revenue & Customs (HMRC): \u201cIn order to count as a first-time buyer, a purchaser must not, either alone or with others, have previously acquired a major interest in a dwelling situated anywhere in the world.\u201d Continue reading…
\n
\nSource : theguardian.com
\nRead more…My daughter is buying me out of a house \u2013 must she pay stamp duty?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

She hasn\u2019t had a mortgage before, but I\u2019m told she will need to pay stamp...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-105645","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rtX","jetpack-related-posts":[{"id":7460,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buy-to-let-mortgage-lending-rockets-ahead-of-stamp-duty-rise\/","url_meta":{"origin":105645,"position":0},"title":"Buy-to-let mortgage lending rockets ahead of stamp duty rise","date":"March 10, 2016","format":false,"excerpt":"\r Council of Mortgage Lenders reports 22% rise in number of loans taken out by landlords in January as 1 April hike loomsThe number of buy-to-let mortgages rocketed by 22% in January compared with the same month in 2015, as landlords rushed to beat forthcoming tax changes.Around 9,500 loans were\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":127381,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/if-i-swap-properties-with-my-daughter-will-we-have-to-pay-stamp-duty\/","url_meta":{"origin":105645,"position":1},"title":"If I swap properties with my daughter will we have to pay stamp duty?","date":"June 27, 2022","format":false,"excerpt":"\r I own my second home outright and she has a mortgage on a flat but no money will change handsQ I own a house outright. The property is a second home and not my main residence. My daughter and son-in-law have a mortgage on their flat. We want to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5714,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgage-approvals-boosted-by-stamp-duty-change\/","url_meta":{"origin":105645,"position":2},"title":"Mortgage approvals 'boosted by stamp duty change'","date":"February 24, 2016","format":false,"excerpt":"\r High street banks report rise in loans for both purchases and remortgages in England and Wales ahead of higher tax on second homesHigh street banks have reported a strong start to the year in the mortgage market, saying buy-to-let investors may be driving some of the growth as they\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73005,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-my-son-get-first-time-buyer-stamp-duty-relief-if-we-get-a-joint-mortgage\/","url_meta":{"origin":105645,"position":3},"title":"Will my son get first-time buyer stamp duty relief if we get a joint mortgage?","date":"November 27, 2017","format":false,"excerpt":"\r We don\u2019t know how two buyers of different status affect the applicationQ I own the house I live in and want to help my son buy a flat. If we get a joint mortgage, what rate of stamp duty will apply given that he doesn\u2019t currently have a property?\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":152454,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-mortgage-lending-at-four-year-high-amid-rush-to-avoid-stamp-duty-rise\/","url_meta":{"origin":105645,"position":4},"title":"UK mortgage lending at four-year high amid rush to avoid stamp duty rise","date":"May 1, 2025","format":false,"excerpt":"\r Figures show a 290% rise in mortgage borrowing, but approvals for new home purchases fell for the third monthA rush to get property purchases over the line before last month\u2019s stamp duty rise pushed UK mortgage lending to a four-year high in March, official data shows.Bank of England figures\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":448,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgage-brokers-warn-on-stamp-duty\/","url_meta":{"origin":105645,"position":5},"title":"Mortgage brokers warn on stamp duty","date":"December 30, 2015","format":false,"excerpt":"\r Homeowners temporarily owning two houses would be hit by surcharge\r \r Source : ft.com\r Read more...Mortgage brokers warn on stamp duty","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105645"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=105645"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105645\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=105645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=105645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=105645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}