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Hi, thanks for your enquiry. Does your partner already own her own property?
How much is outstanding on the main Mortgage (I appreciate there is 120K outstanding on the Help to Buy loan)?
Kind Regards Al
1. The transaction with your now ex wife won’t attract stamp duty as it’s presumably part of an overall matrimonial settlement. 2. If your partner comes into the property and takes a half share, then as the total mortgages are £551 less £121 = £430, and she is essentially “purchasing” half the mortgage debt then stamp duty on £430/2 = £215,000 will be payable which is £2500. If this isn’t what you want then get a solicitor to draw up a Deed of Declaration of Trust to cover her interest and keep the title in your name.
The general rule is that whatever your partner is taking on by way of mortgage debt is subject to stamp duty. So as at the date of a transfer of a half share of the property to her what is the mortgage debt, half it and calculate the SDLT. Up to £250000 it is 2% of the amount above the £125000 rate. Any extraneous payments such as paying off the other help to buy mortgage or paying money to your ex wife are really separate.
Your calculation is correct. As regards ***** ***** property and the mortgage in your name and doing it as part of a matrimonial settlement I did deal with this in my initial answer to you. There would be no stamp duty to pay.