Is there any SDLT on a transfer of equity in a mortgaged property?

Home Forums Patrick Cannon Is there any SDLT on a transfer of equity in a mortgaged property?

This topic contains 1 reply, has 1 voice, and was last updated by Is there any SDLT on a transfer of equity in a mortgaged property? by Patrick Cannon 1 Patrick Cannon 30th May 2017 at 4:53 pm.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #821 Reply
    Is there any SDLT on a transfer of equity in a mortgaged property? by Patrick Cannon 2
    James Lowery

    Can anyone clarify the SDLT liability regarding title splitting properties as part of a remortgage process?

    ie One property – 2 houses on site – mortgage on whole (say 500k) – transferred A to A and B for no consideration then Transfers of Part for each individual property done from A and B back to A – both properties mortgaged for 250k to pay off the existing mortgage.

    Would there be any difference if it was a building where A transfers to Company then leases are done of 2 flats?

    #822 Reply
    Is there any SDLT on a transfer of equity in a mortgaged property? by Patrick Cannon 3
    Patrick Cannon

    James, if you can achieve this by transferring the title to A and B as bare trustees for A and back again to A as beneficial owner then no SDLT will arise.

Viewing 2 posts - 1 through 2 (of 2 total)
Reply To: Is there any SDLT on a transfer of equity in a mortgaged property?
Your information: