To ask how to avoid 2nd home rate stamp duty

[Stampdutywoes]

Hear me out before you attack.

Currently living in rental property after splitting with ex partner. We own the home he is living in jointly.
The landlord of my rental wants to sell and I would like to buy it but the additional 5% stamp duty rate for what would count as a second home is a killer.
Are there any conveyancing solicitors who could advise on how to avoid (not evade) this extra 5%?

Maybe she think those rules also aren’t really for people in her situation.

I’ve been living in the rental for five years so it’s a pretty extreme ruse if it is to avoid stamp duty!

It really isn't simpler. You will pay a fortune in stamp duty and CGT, as well as having all the other issues. Just pay a surveyor to carry out a valuation.

The fact you're even considering doing this suggests you really ought to be getting some professional advice PDQ.

Obviously two separate people can buy two properties, one each, without paying the tax. But they can't co-own two and avoid the tax. My friend who didn't own a property bought a flat with her Mum and they had to pay it because her Mum already owned a house. There's no way round it. Are you sure it wouldn't be easier to just have a clean break? Is it because the house he lives in is worth more?

I don't know, it takes me back to my question about why you want to still be anchored to your ex. Just sort the finances and move on.

Then you need to pay. Why should people who can afford two houses get to dodge their taxes while people who can afford to own zero homes have to pay theirs? Plus their landlord's mortgage?

Don’t be daft, how is half ownership of two properties any different to us each owning one? I know it seems to be for the purpose of stamp duty but we are no more affluent than if we had one property each!

I thought this too. Cripes. Just pay the additional tax and stop being such a CF

Why not consider him buying you out so you can each own a property that you live in?

Why so difficult to evaluate?
Unique property you say...

Get a valuation, your ex buys you out. You buy a new property. You might miss out on buying the property you're renting now, but thems the buying breaks 🤷‍♀️

Not if you are both owners of 2 properties

It’s simpler to have you both on the mortgage for each property, and to have to deal with any issues that may come up like one of you losing their job, or dying, or marrying, or wanting to sell? It’s simpler to have to deal with the CGT implications?

That can’t be simpler than just owning one house each.

Let me get my tiny violin out. People with zero homes don’t have to pay stamp duty and they had the opportunity to study, work and save as we have done.

Explain to me why it is any different financially to if we each owned one of the houses rather than each owning half of both houses, given that we live separately.

Yeah, I think I was so busy being astounded at the audacity of the OP, I ran out of critical thinking for a brief moment.

No mortgages involved

So buy one property each then. Jeez.

Don’t be daft, how is half ownership of two properties any different to us each owning one? I know it seems to be for the purpose of stamp duty but we are no more affluent than if we had one property each!
Do you see this is like me saying, 'I own my home worth 500,000. If I sell this and buy two houses at £250,000 each, this should only count as one house. It doesn't make me anymore affluent'. It wouldn't wash would it?

Not very helpful then, given that he can’t buy me out and we don’t know the value anyway.

Because you are both on the deeds of two houses. Why is that so hard to understand? If you want to own one house, do that.

If you're both cash buyers it should be easy for him to buy you out and you buy your house. If he owes you more because the original house is worth more then you will have money to invest.

Have you read my posts?

Will half be in effect sold or transferred to him? In that case you would not own another property.

What the actual fuck. "Might"?

Ok but the rest of it?

Why would your ex give you enough cash to buy half a home, opening himself up to the CGT when that house is sold? Never mind the 5% stamp duty, he’ll have to pay 18/24% CGT!
Why doesn’t he use that cash to buy you out, taking out a mortgage for the remainder if necessary.

Lack of critical thinking there. Say the first house is worth a couple of million and the rental is only worth 800k, then he can’t find a million to buy me out but he could find £400k to help me buy the rental.

You owned a property together as a couple, ypu split up, you plan to purchase another property together while still jointly owning the first one, no mortgages are involved, you don't know the value of the original property (and this appears to be an insurmountable problem) and you're worrying about the stamp duty?

Perhaps you should be worrying about plausibility.