A client bought his PPR a few years ago but in order to get a mortgage, he obtained a joint mortgage with his brother who was also included on the property deed. His brother never lived in the property nor did he contribute anything towards the purchase price, never paid anything for the mortgage repayments or for the costs of owning and living in the property. Now the client wishes to remove his brother from the mortgage and the property deeds. His brother also wants this and the mortgage company are OK for this to happen. There will be no money paid by the client to his brother. However, would there be any capital gains or sdlt implications?
Thanks in advance for any help.