Home › Forums › Patrick Cannon › Can SDLT be saved by using husband and wife partnership? › Reply To: Can SDLT be saved by using husband and wife partnership?
13th October 2010 at 5:35 pm
#454
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You’re right in thinking that there are few formalities actually required for a general partnership and it would not be unusual for there to be a partnership in these circumstances. The problem is obviously the lender’s refusal to lend to a partnership which means that if you take the mortgage anyway you are likely to be obtaining the monies by deception – mortgage fraud in simple terms and so should not be seriously considered. Maybe go back to the lender and explain the (genuine) SDLT saving opportunity and see if they can accommodate your clients?