8:21 AM, 21st October 2016, About 5 years ago 9
I am very new to the idea of buying a property to rent so please excuse me if my questions are somewhat naive.
I am aware of the extra stamp duty payable on second homes and was wondering if the following is actually ‘allowed’/ possible.
I currently own a family home with my wife. I, along with my sister, were looking to purchase a second property either to flip or to rent but am aware that this would obviously attract the ‘extra’ stamp duty if my name was on any of the deeds.
My sister works for the forces overseas and as of yet has no home. Assuming that I trust my sister completely (which I do) would it be possible for her to buy the property solely in her name even if some of the money for the purchase would have to come from me and therefore avoid stamp duty?
The property obviously wouldn’t be lived in by her as she is housed in army accommodation overseas.
Again apologies if this is very basic but I have tried searching various scenarios and couldn’t find a straight answer to this.
Thanks in advance for your time.
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