Transfer in equity - Stamp Duty???

hanny73

Hi - I am separating from my partner, we own a property we have had valued at 640k.

We have a relatively small mortgage of 70k, my partner is buying me out of the property, so my equity is essentially 285k.

I've searched and searched for the answer but can't find it, are we liable for stamp duty - if so would anyone know how much?

Thanks in advance!

Pixie5740

You wouldn't be liable for SDLT because you're not buying anything. Your ex-partner would be liable for SDLT though and that would be based on the consideration made up of the £285k (s)he is paying you and half the £70k mortgage which I assume will no longer be in joint names.

Edit: https://www.gov.uk/guidance/sdlt-transferring-ownership-of-land-or-property

hanny73

Thanks for the reply. Do you know how much? We've agree to split completely the costs we are likely to incur with the various moves.