Hi,
I need to remortgage but have unitentinally left it to the last minute as i thought i had until october to sort this but my 3.49% fixed expired on 3/Aug so defaulting to Abbey variable (at 6.69%!!)and need to do a fair few things on this front as I am nigh on doubling my repaymants.
remortgage - irrelevant but prob to halifax fixed 2 yr, 4.29%.
Transfer of equity - current morgage is in mine and my father's name and i need to remove him from the deeds and the mortgage and add my girlfriend to both who has lived with me for the duration I have owned the property. He is happy to pass what he has in the property over to my girlfriend as a gift.
What is the situation here with regards to tax / stamp duty? Will my girlfriend need to pay stamp duty here - if so how much, and if so are there any loopholes here? How fast can this kind of thing be turned around? Any tips on how this process can be speeded up?!
Purchase price was £232k, mortgage is £208k and current value is approx £265-£270k. Am in London, UK.
Many thanks
Matt