STAMP DUTY! Please help 😩🙏

[happynewyear26]

stamp duty! Any help appreciated!

I am on my mother’s house deeds. My husband and I were always told that because of this if we bought together we’d have to pay double stamps duty.

Therefore my husband solely bought our current marital home, he is the only one on the mortgage and deeds. I just had to sigh to give permission for him to use savings for deposit or something like that ..
Obviously we went through solicitors who knew our circumstance, he paid single stamp duty.

We are looking to move again. I am still on my mother’s house deeds, so we assumed he’d need to do the same again which is fine. However a mortgage advisor has just told me that she thinks if my husband sells our home and buys another we’d need to pay much higher stamp because we’re married even though I wouldn’t be on the mortgage or deeds.

So confused! Can anybody help!

I don’t think so. It’s about who actually owns the property.
some lenders are funny about a spouse being on the mortgage but that’s not the same thing

This is what we thought. When my husbands fixed rate was up we looked at adding myself to the mortgage however it would have meant paying extra stamp.

We've been excited to move, knowing we’d need to do it in the same way with my husband solely on mortgage and deeds which is absolutely fine however the thought of paying so much more stamp just because we’re married is terrifying!

Yes - when married, you're treated as one unit for SDLT, even if your husband is solely to be on the mortgage and deeds, and will trigger the higher SDLT surcharge for additional properties. When married you have beneficial ownership of the marital home regardless of whether it’s in your name, so it will be considered your second property.

https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property#who-the-higher-rates-apply-to

Yes as you’re married you’ll likely have to pay the higher stamp duty. Can you come off your mother’s house deeds?

I don’t understand how he was able to buy our current home with no surcharge ? The solicitors were aware that I was on another mortgage, now paid off.

We’d be selling current house (solely in husbands name for deeds and mortgage) and buying new one (same situation)

All I had to do previously was sign forms to say I consented to the use of our joint savings etc

Yeah, this is something we were going to explore. We’ve literally just put in an offer on a house and now completely devastated

Hi, please can I ask why you deleted your most recent post?

My husband definitely didn’t lie, we’re just looking at what’s to happen when moving now as it’s been a while!

Appreciate your help and advice x

wow I had no idea about this! Useful to know as we were getting my husband to retain his FTB status but maybe there’s no point!

Is there a reason you’re on your mother’s deeds? It’s easy to get yourself taken off.

I’m reading so much conflicting information! I’m going to check tomorrow 😩

https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property

I’m afraid your new solicitor is definitely correct.

Best withdraw our offer :(

Take yourself of your mothers deeds, then you’d not need to pay the additional stamp duty?

You don’t have to pay the higher rate if you are selling your main home and buying a new main home.

Read the link above under the heading ‘when higher rates do not apply’

UPDATE! 😮‍💨
I’ve spoken to two other mortgage advisors and the stamp duty helpline and they’ve confirmed as it would be moving from one place of residency to another there will be no additional SD to pay :)

That’s great and helpful to know!!