• SDLT And Transfer Of Equity

    By [email protected] on 27th May 2016

    Hi
    I am currently in the process of purchasing my first home. However I am impacted by the new second homes SDLT and have to pay additional 3% for the following reason:

    My dad bought a flat about years ago with his wife for about £120k Cash (there is no mortgage on the flat). He added my name on the title deeds (at the time I didn't understand the consequences, but he did it in good faith so that I could have something if he passes).

    From my research, it appears I have no other option but to remove my name from his title in order to avoid the fee. But it is not something I would really like to do, so does anyone have any idea of any way around this that would allow me to keep my interest, or some of it?

    Thanks
    John

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