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Remortgage transfer of equity query.
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
Hi, I am remortgaging and taking ex off the deeds. No money will be transferred to him as this was sorted months ago. I've had the info from the solicitors and am wondering if I'll be subject to Stamp Duty? It's very confusing in the jargon! Can anyone help?
Thanks.
Thanks.
0
Comments
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If you will be taking responsibility for a mortgage and the mortgage is more than £250k, yes.
If not, or below that amount, no.
The consideration is deemed to be 50% of the outstanding mortgage so a liability would be created on £125k+.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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