transfer of equity

[splash]

i wish to put my partner on to my current mortgage i was told i would need a solicitor and it would be subject to stamp duty the mortgage is 40,0000 would the stamp duty be caculated on this or the current value of the property which is 130,000 please help

[WoWo]

Stamp duty is charged on what the property is worth not the mortgage held on it. Thats to stop me for example transfering a property to a relative or friend for �1 bellow the limit to avoid stamp duty

[Mrs_Pegasus]

Stamp duty is paid on all properties over �60k but is paid on the full amount (annoying but true)

Hope you dont mind me adding that think carefully about all the outcomes of your partner being on the mortgage and therefore the deeds.  It sounds like you have paid a fair amount of the mortgage off and therefore would have a higher share in the assets.  Talk through everything carefully with your solicitor before proceeding to ensure you are protecting your interest in the property if the relationship should break down. 

[tt9]

hi

i recently did a transfer of equity including entering onto the deeds as well as the mortgage and i was quoted various ammounts ranging from �250 - �500

nothing about stamp duty though