Does the 3% charge apply when wife transfers property to a spouse?

[Simon Quilley]

Can someone reality check this for me? Wife intends to transfer two solely owned properties (neither has a mortgage) in to joint names of self and husband. There is a third, jointly owned property which is their residence and which they propose to exchange for a more expensive one. They will mortgage both of the transferred properties to raise the equality monies to effect the exchange. My conclusion is that none of the above should attract higher rate SDLT. Anyone differ?

[Patrick]

Simon, yes I agree that there will not be a higher rates transaction here.

[Author]

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