Buying a house, the new stamp duty

[anonymous-user]

As we currently reside out of the U.K. My partner and I wish to send our savings back and purchase a house for buy-to-let purposes.

With the rate increase in the stamp duty it seems as though irrespective she does not currently own a house but I do that the transaction is classed as a second home purchase.

Can anyone clarify where we stand as it is slightly unfair she would have to pay the increased rates!

[Sarnie]

Trexthedinosaur said:

As we currently reside out of the U.K. My partner and I wish to send our savings back and purchase a house for buy-to-let purposes.

With the rate increase in the stamp duty it seems as though irrespective she does not currently own a house but I do that the transaction is classed as a second home purchase.

Can anyone clarify where we stand as it is slightly unfair she would have to pay the increased rates!

If you're buying a second property, jointly, you have to pay the increased stamp.

If she buys it on her own, and it's her only property, she won't.

[anonymous-user]

i doubt she would qualify for a mortgage on her own though, so there is no way she can buy the house but the mortgage is joint?

Appreciate the professional advice.

[Sarnie]

Trexthedinosaur said:

i doubt she would qualify for a mortgage on her own though, so there is no way she can buy the house but the mortgage is joint?

Appreciate the professional advice.

No........and I wouldn't expect an non-UK resident BTL mortgage to be a simple process either.....

[anonymous-user]

Thanks for the input Sarnie.

Already clarified that point with my current lender, I am a non-resident but my contract (of work) is still held by a UK company, this was acceptable to them.