Please help - Stamp Duty Query

[Joycer]

My girlfriend and I are looking to buy a house. She's a first time buyer while I bought a house with my then girlfriend about 6 years ago and sold it over to her so am considered not a first time buyer. I've looked through the internet but can't find if there's any changes likely for non-first time buyers. If we buy the house together (approx €370k) then we'll have to pay approx €23k but I think this is really unfair as I'm not buying another house for any other purposes than occupation. The alternative is to buy the house in her name only and then transfer it to my name too, but this is only at no cost if we marry, or else if it's just transferred then currently we'll have to pay stamp duty too.

Does anyone know if there are any changes in stamp duty for couples where one (or both) are not first time buyers but will be occupiers?

If there are not any changes does anyone have any suggestions for the cheapest way around having my name on the title (either immediately or transferred at a later stage)?

Thanks

 

[ClubMan]

I think this is really unfair as I'm not buying another house for any other purposes than occupation.

Them's the rules...

The alternative is to buy the house in her name only and then transfer it to my name too

There is a risk here in that if you split you then things could get tricky compared to if your name is on the mortgage and property deeds. In any case if you are actually a beneficial owner and contributing towards the purchase then it is my understanding that this is an illegal tax avoidance measure.

Does anyone know if there are any changes in stamp duty for couples where one (or both) are not first time buyers but will be occupiers?

No - there are none and recent changes were focused on FTBs.

 

[CCOVICH]

The exemption for new houses of less than 125 square metres still applies to all owner occupiers as far as I am aware. That is one way to avoid stamp duty.

 

[Joycer]

Them's the rules...
There is a risk here in that if you split you then things could get tricky compared to if your name is on the mortgage and property deeds. In any case if you are actually a beneficial owner and contributing towards the purchase then it is my understanding that this is an illegal tax avoidance measure.
No - there are none and recent changes were focused on FTBs.

Cheers.. doesn't sound too good

Know if there's any plans to even reduce the stamp duty %'s for non FTBs?

A reduction from 6 to 3% would make a big difference.

 

[ClubMan]

The exemption for new houses of less than 125 square metres still applies to all owner occupiers as far as I am aware. That is one way to avoid stamp duty.

Yes - I didn't mention it because it's not a change to the rules and I assumed from the original post that the original poster was looking at non SD exempt properties (i.e. second hand where not all parties were FTBs).

Know if there's any plans to even reduce the stamp duty %'s for non FTBs?

A reduction from 6 to 3% would make a big difference.

No plans that I'm aware of at the moment. Can't see it happening either unless some radical restructuring of SD is undertaken.

 

[Joycer]

Yes - I didn't mention it because it's not a change to the rules and I assumed from the original post that the original poster was looking at non SD exempt properties (i.e. second hand where not all parties were FTBs).

No plans that I'm aware of at the moment. Can't see it happening either unless some radical restructuring of SD is undertaken.

Thanks for your help. In terms of changing %'s or any other changes to SD (and being an optimist) has there been any confirmation on what will and will not be affected by the new bill or is it just fair to assume on FTB will be affected by the SD changes?

 

[ClubMan]

Only FTB changes this time as far as I know. It should be covered in detail in other threads on AAM and elsewhere. If you cannot afford the SD then why not adjust your search to properties that you can afford - including new builds exempt from SD? Or have you already fixed on a particular property? Also - if you are buying with a stranger (which, in law, your unmarried partner is) then you should look at having a legal agreement governing the joint purchase in place. The key posts thread should have something on this. And talk to your solicitor.