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  • Tax

    Stamp duty on re-mortgage question

    I had a discussion on this few months ago but just wanted to take your views if anything has changed since then.

    I am remortgaging current residence into a BTL(solely on my name). Adding my wife's name and allocating her 95% equity.Mortgage balance is 239000. What would be the stamp duty? Will it be higher rate or standard?

    She has an equity with me in another property too.

    I believe that the higher rates for transfers/exchanges between spouses was abolished from 27th November 2017.

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    It is at standard rates on 95% of mortgage debt so £2,041

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    Debbie Franklin

    Director of Tax Peplows Limited

    CTA ACA FCCA