What the papers said about home ownership and stamp duty

What the papers said about home ownership and stamp duty
The Times looked at home ownership this weekend, following recent research by L&C which revealed that around 1.8 million adults have stayed in a relationship in order to get on to the housing ladder.

Buying a property with someone else, whether it is a partner, friends or a sibling, can help to increase the amount of available deposit, as well as borrowing potential, but requires very careful planning.

Deciding whether to own a property as joint tenants or tenants in common is a good place to start, as this will help determine each person’s share in the property. A cohabitation agreement can also help to protect each person’s interests should a relationship or financial arrangement come to an end.

Stamp duty was also a hot topic this weekend, and in particular the difficulties being experienced by those required to pay the 3% surcharge on second properties. Some experts claim the tax is being calculated incorrectly on as many as 1 in 6 transactions, and there have been calls for the whole system to be simplified.

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