Avoiding stamp duty when one person is FTB and the other isn't

[fox]

My partner and I are looking to buy a house, I'm a first time buyer but my partner isn't. Someone mentioned that it was possible to avoid stamp duty by putting the mortgage in both names but the property in only my name. Is this true and if so, how do we go about it? Does this depend on the bank, the type of mortgage or on the solicitor? Does the Revenue get involved?

Thanks
Fox

 

[Jonathan.OB]

Is your partner going to live there? Banks are getting funny with this type of application.

 

[mf1]

My partner and I are looking to buy a house, I'm a first time buyer but my partner isn't. Someone mentioned that it was possible to avoid stamp duty by putting the mortgage in both names but the property in only my name. Is this true and if so, how do we go about it? Does this depend on the bank, the type of mortgage or on the solicitor? Does the Revenue get involved?

Thanks
Fox

I think you know the answer. Put simply, you either buy in your own name with no contribution at all from your partner and pay no stamp duty or else buy in joint names and pay the stamp duty. If you google Revenue First Time Buyers Stamp Duty you will see how resolutely Revenue have made this clear. Bank, Solicitor and Revenue are all involved.

mf

 

[NicolaM]

Hi
Is this thread any use?
Regards
Nicola

 

[Toto]

The following from revenue would appear to have your situation covered:

[broken link removed]

Especially:

"To qualify for the relief the entirety of the purchase monies, including any borrowings, must be provided by the first time buyer. Any person, who provides part of the purchase monies or who is a party to any borrowings relating to such purchase, is also regarded as a buyer of the house and the relief will not be available unless that other person is also a first time buyer"

 

[ClubMan]

The following from revenue would appear to have your situation covered[/quote]
I disagree that this is necessarily so. In fact most likely not. However this stuff is covered in innumerable existing threads already so I'm not going to regurgitate it all here again. Try searching/browsing for the relevant threads and get professional advice if still in doubt.