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?
Subject: RE: Transfer of Equity
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.