SDLT and Tenancy in common purchasesMake Text Bigger
I am looking to buy a property with my partner. He is a first time buyer however, I already own a flat that I’m currently living in.
I’m not planning to sell my property as I want to rent it out once I move out.
I am aware that new purchase will be subject to the higher stump duty rate however I wanted to know how does it work with tenancy in common agreement.
If we buy the property splitting the ownership 50/50 will he need to pay higher rate on his share as well? If so is there any way to go around it.
We are not married therefore I don’t want him to be punished for the fact that I own a property already.
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