Case Study –Concessionary Purchase with No Earned Income

Property Value	£200,000
Loan Amount	£136,000
Location	Nottingham
LTV	68%
Achieved Rate	3.34%
Completed	April 2023
Adviser	Courtney Flockhart

The Client

Our client was the sole owner of a property. However, due to the recent changes in tax regulations, he expressed a desire to transfer ownership of his buy-to-Let property to his spouse. This decision stemmed from the fact that his wife qualifies as a nil rate taxpayer, making it more advantageous to hold the property under her name rather than his own.

The Solution

Despite our client's lack of income, we successfully secured a lender willing to provide her with the required amount. To achieve this, we introduced our client to a trusted tax adviser, who frequently refers clients to our business. The tax adviser conducted a thorough consultation with our client to determine the most tax-effective approach to proceed with. Consequently, we were able to proceed with a concessionary purchase, resulting in a mortgage amount of £136k and a stamp duty transfer only charged based on this figure, rather than the true value. This approach proved to be an advantageous solution for our client.

The Henry Dannell Difference

Henry Dannell successfully procured a solution that not only resulted in substantial cost savings for our client in their initial intended objective but also optimised their tax liabilities from day one. As dedicated advisors, we diligently seek out comprehensive solutions for our clients, ensuring they receive the most beneficial financial outcomes.