Stamp Duty

[b_murph]

Last year I bought a house with my sister. The sole purpose of my sister being involved was to secure the mortgage,so the mortgage is also i her name. However the house Deeds are in my name only. I am also claiming the mortagage tax relief at source.

Am I entitled to claim the mortgage tax relief for both of us, even though my sister has nothing to do with repaying the mortgage.I read recently in a newspaper that i am entitled to it????

My sister will be looking to buy her own house maybe next year with her boyfriend. If she does claim the mortgage relief will this effect her when she goes to buy a house herself? She will not be a home owner as her name are not on the deeds but the mortgage is in her name.

They may be building on a site so is it the case that she won't then pay stamp duty. Also if they buy a house valued at under €317,000 will they not have to pay stamp duty anyway. Their house will be going in both names. So just putting house in boyfriends house is prob not an option.

Your views are greatly appreciated.

 

[ClubMan]

Am I entitled to claim the mortgage tax relief for both of us, even though my sister has nothing to do with repaying the mortgage.I read recently in a newspaper that i am entitled to it????

Not as far as I know. Perhaps you could link to the article?

My sister will be looking to buy her own house maybe next year with her boyfriend. If she does claim the mortgage relief will this effect her when she goes to buy a house herself? She will not be a home owner as her name are not on the deeds but the mortgage is in her name.

This is a bit tricky as Revenue could decide that she does have a beneficial ownership in the property and, as such, she (and the boyfriend jointly) might be classed as non FTBs. Best to get independent, professional advice on this.

You have to be careful of artificially avoiding stamp duty as Revenue are [broken link removed] on technically legal but actually unacceptable practices in this context.