• Transfer Of Eqyuity On A Buy To Let Property

    By Guest on 25th Oct 2016

    If I own a Buy to Let Property valued at a prox £180,000 with an £88,000 mortgage on it and now wish to re-mortgage for the same amount on a joint basis with my mother with a transfer of equity to her on a 50/50 basis, without any money being asked for, is there a Stamp Duty laibility? If so what would it be based on the figures given here?

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    By Guest on 29/10/2016

    Stamp duty would be based on half the existing mortgage debt, so £44,000. If your mother doesn't own any other properties then a return will need to be submitted but there won't be any duty payable because you are below the £125,000 threshhold. If she does own another property though then the higher rate will apply which means the duty will be 3% of £44,000, so £1,320

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