Stamp Duty calculation

Cbrw2022

Hi guys,

Its my first time posting on here and I wouldn’t appreciate some help. I want to start the process of getting added on to my partners mortgage and I am trying to work out how much stamp duty would apply.

House price: £400,000
Mortgage amount: £128,000
I am a first time buyer 
we are going to be going 50/50 in terms of ownership.

Please let me know if you need anymore information.

Thank you 

Cscott139

If you are being added onto a current mortgage typically the stamp duty amount would be based on the current mortgage balance (consideration). Your bit would be calculated based on half of that as there are 2 of you. Being a first time buyer and because of the amounts involved there should be no stamp duty payable.

Cbrw2022

Cscott139 said:

If you are being added onto a current mortgage typically the stamp duty amount would be based on the current mortgage balance (consideration). Your bit would be calculated based on half of that as there are 2 of you. Being a first time buyer and because of the amounts involved there should be no stamp duty payable.

Thank you very much, any idea the other legal costs involved? I know I will have to get a solicitor but it would nice to know a ballpark figure of what this is going to cost me