8:22 AM, 12th October 2017, About 5 years ago 3
I have a friend whose relationship with her partner has broken down.
They never married, but have a couple of kids and bought their buy to let houses in joint names with mortgages. There is about 5-10% equity across the properties.
They want to split the portfolio and transfer them equally into the respective parties names, subject to lender consent.
She has a number of questions:
1) Will lenders be happy for the removal of one party from the mortgage?
2) Will there be stamp duty or CGT implications in the transfer of ownership from joint to single names?
3) If there are tax implications, can these be mitigated?