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%?

Yes. A person who described themselves as financially savvy would know this.

OP. Do you want all your property to go to your ex if you die?

Thanks, much appreciated. We both are sole beneficiaries in each others wills so there is that protection but I understand that could change.

This is all mad. Legally, financially and interpersonally. Never mind a lawyer. You need a therapist.

Agreed.The higher rate stamp duty is the least of the OP's worries in this scenario...

🤣🤣 Luckily, I have a psychiatrist too but they don’t deal with my financial dilemmas

If you own as joing tenants then property is inherited by survivorship regardless of any will. So on his death you would inherit his half share and vice versa. You also need to consider that on either death the properties may both need to be sold to pay IHT if there are insufficient liquid assets in the estate. What happens if one of you needs long-term care and the properties need to be sold to release cash? You say you would not be affected by bankruptcy or divorce but either of these situations could force a property sale to release funds. What happens if either of you lose capacity? Do you have PoA to facilitate a sale if required.
You need to consider the 4 Ds
Death
Divorce
Debt
Dementia
I think you both need proper estate planning advice.

Pay for your own bespoke tax and legal advice and stop being a cheapskate.

You (not he) already have a potential CGT issue on the main house if it hasn't been your residence for 5 years.

Buying a 2nd property jointly that he doesn't live in then gives him a CGT issue.

It's not a financial dilemma though is it?
Buy a house.... pay tax
Straightforward

Rude!

In other words, you are just spouting off without knowing the facts?

Only if it is sold

By the sounds of it you’re Joint tenants. So it’s even further removed from owning a separate property each. If he dies you’ll end up with two properties absolutely.

No one is going to give you a “professional opinion” are you in the UK? You need to properly engage an advisor, pay them for advice if you’re not willing to just accept what is said here.

Also, if you want people to help you, politeness goes a long way.

No need for tax professionals then

Then it's just the same as a couple co-owning their home and buying a second property. Splitting up won't make any difference.

I recommend a clean financial break with your ex

Buy 1 property each

Simple

Why make both of your lives over complicated ?

This would very much depend on how the house is owned (joint tenants/ tenants in common) so you should check that.

It also won’t protect you if he lets the place go to rack and ruin, or someone else moves in and claims a share of the property themselves (like a girlfriend who pays your partner and knocks a few walls down, then claims they have established a beneficial interest).

All in all you could be looking at a very long court battle on the old and the new properties.

That goes both ways, some of these responses are very unkind at the least

Then he gets a mortgage to buy you out, or sells and you split the proceeds

Well if that’s what you recommend, we will arrange it immediately if not sooner.

Joint tenants can be legally be changed without your consent. You will just be notified it has been done.

No you cant

You either need to force sale on property or ex buys you out

Can you link to this information that does not sound right

I don’t think they are at all! People have told you the answer, it’s not what you want to hear, that is not “unkind”. You just keep rejecting the answer. You have received answers from people I know to be lawyers and tax professionals.

You have been told your preferred ownership route is not tax efficient. A tax professional would tell you this, but then it’s up to you to decide which is more important ownership of both properties or tax efficiencies. Are you concerned about the CGT impact of the sale. Speak to someone because you might find that your CGT liability will be lower than the SDLT. The CGT issue will just keep getting worse if there is a sale, say your ex met someone new and wanted to sell.

Don't do this. This is fraud.