Stamp Duty - 2 people buying a house together

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I'm buying a house with my brother. The house is about 350k. I'm going to be buying 2 thirds, and he is buying 1 third. I am a first time buyer he is not. In this case how does the stamp work?

From what I can see if I was buying on my own I'd be paying 3%. But if he was buying on his own (as an investor) he'd be paying 6%.

Anyone know how does this work?
 
If any one of the joint buyers is not a first time buyer then the joint buyers are collectively not first time buyers which may have implications for stamp duty, mortgage interest tax relief etc. The only way to avoid this is to have only the FTB's name on the property deeds but both on the mortgage deeds but this represents a risk for the non FTB party who has an interest in the property. Are you buying as an owner occupier but your brother is buying as a non owner occupier investor? I'm not sure how the stamp duty works in this case. By the way, for joint (non married couple) purchases you should have a suitable legal agreement in place covering the purchase.
 
Yeah that makes sense - so 2 mortgages, one name on the deeds, and a legal contract to make it all nice & tidy
 
I'm not sure what you mean by two mortgages?

As ever - get independent, objective advice about this if you are in any doubt.
 
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