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Help with SDLT
Keely85
Posts: 1 Newbie
Hi All
I am in the process of remortgaging. The new mortgage will be in my name only as my husband is self-employed and does not have two years worth of accounts.
We have been told that the property needs to be transferred to me as my husband not be on the new mortgage.
We will have to pay SDLT?
The property was bought for £175k in 2013
It is currently worth £321,500
We currently owe £160k on the current mortgage but borrowing additional funds, the new mortgage on the house will be £186k
If anyone can shed any light I would be very greatful as it is very confusing!
Thank you!
I am in the process of remortgaging. The new mortgage will be in my name only as my husband is self-employed and does not have two years worth of accounts.
We have been told that the property needs to be transferred to me as my husband not be on the new mortgage.
We will have to pay SDLT?
The property was bought for £175k in 2013
It is currently worth £321,500
We currently owe £160k on the current mortgage but borrowing additional funds, the new mortgage on the house will be £186k
If anyone can shed any light I would be very greatful as it is very confusing!
Thank you!
0
Comments
-
I think you pay stamp duty on half the outsanding motgage ie £80k. Since this is less than £125k there should be no stamp duty.0
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