Rate of Stamp Duty on in-laws house?

F

fraidycat68

Guest
Hi,
My wife wants us to buy her parents house - it's a lovely pad and I'm all for it. Reading some of the posts here I am confused if she is entitled to some reduction in stamp duty. It would seem that if she was buying it on her own she would be entitled to a 50% reduction but what is the situation if we are buying it together? Would we as a couple be entitled to a reduction - probably no such luck!
 
It is straightforward:

1. She buys the house, getting a 50% discount on stamp duty.

2. She immediately sells half to you; as her spouse you are exempt from stamp duty on this second transfer.

3. Both deeds can be done as part of a single conveyancing transaction. The extra transfer deed might add €400 - €700 to the transaction costs, but will obviously save a lot more in Stamp Duty.
 
yes, but can she buy the house on her own if my name is on the mortgage with her? or are the deed of the house and the mortgage 2 completely seperate issues
 
hi

i am in very similiar position i.e. i am trying to buy my parents house along with my girlfriend. We would be getting the mortgage together and ideally like to get the house in both our names for security on both our parts. BTW we have been going out for 7 years but security is still fairly important

Like above what are my options i.e. i buy on my own with her on the mortage and sell half to her??

Cheers
 
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