• Stamp Duty

    By Guest on 17th Sep 2016

    My wife wants to gift the equity in the property in which we live to me and transfer the mortgage into my name from just hers. Do i really need to pay stamp duty as all she is doing is transferring the mortgage? She already owns a buy to let property.

  • 1 Answers

    By Guest on 26/11/2016

    Stamp duty is payable on the actual consideration paid in respect of the transaction. In the case that is the amount outstanding on the mortgage and as your wife owns another property stamp duty will be calculated at the new higher rate so yes, unless the outstanding mortgage debt is less than £40,000 you will have to pay duty

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