I have a SDLT question;
The scenario;
Mr X owns a buy to let property in his own name; the property is valued at £450k and has an outstanding mortgage of £225k. He now wants to jointly add his wife to the property and then remortgage in joint names, both husband and wife own other properties. No payment will be made from wife to husband.
- Would SDLT be payable by either Mr or Mrs X?
- Assuming the current scenario would attract SDLT would it be feasible for Mr X to pay off the mortgage to £0, then make the 50% gift transfer to Mrs X followed by remortgaging in the joint names.
Many thanks