I have recently gotten married & we want to upgrade house, my wife would be a first time buyer however I am not. If we buy our new home with a joint mortgage/sole title in her name can we avoid paying stamp duty on a second hand home?
any help is appreciated v confused
Exemption from Stamp Duty in your case will be very unlikely:
Your wife would only be exempt if :
The title deeds of the house are in her name only .
AND - You do not have a beneficial interest in the house.
AND - You are only joined into the mortgage solely at the request of the lender for the purpose of providing additional security for the monies being advanced for the purchase.
AND You do not intend to contribute to the repayment of the mortgage .
I doubt if you will satisfy all those conditions?
Maybe I'm wrong?