Hello and thanks for using Just Answer.
My name is ***** ***** am happy to assist you with your enquiry.
1. I am afraid you won't be able to transfer the legal title of the property to your Wife, unless the Natwest consented, and they would only grant such consent if your Wife were able and willing to take over the Mortgage (this would entail Natwest checking out her financial situation and if she passed their criteria, they would grant consent).
Natwest's consent is required because all Mortgage Lenders will insist that whoever's name is ***** ***** Deeds is also on the Mortgage.
The alternative is that if your Wife does not wish to stick with the Natwest mortgage, she can do her homework and find another Lender who will grant a new Mortgage to her. If this is possible, then the Deeds can be transferred from you to her on the same day as your Wife completes the new Mortgage. A local Solicitor would need to prepare the necessary Land Registry Transfer document and deal with paying off the existing Natwest mortgage and receiving the new Mortgage advance monies.
The above is perfectly legal and in no way would it be seen as tax evasion.
I am afraid I am not a Mortgage broker, so I can't really comment on whether you should be able to get a Mortgage if you are working in Kuwait- all Mortgage Lenders have different criteria on Mortgage applications, anf you would need to speak to a Mortgage broker if you need advice on this.
As regards ***** ***** Gans tax position, any transfer of an asset between you is treated as giving rise to neither a gain nor a loss to the person transferring it. Any amount actually paid is ignored. If the person receiving the asset later disposes of it, he or she will be treated as if they had paid an amount equal to the total of your costs. You should of course take separate advice from an Accountant concerning CGT if you have concerns.
I hope this assists and sets out the legal position to you.
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