Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
I’m looking for advise from anyone regarding the most cost effective way of transferring deeds into joint names.
We started out our buy to let business 5 years ago, with initially 3 properties and at that time put the deeds for those three houses into my wife’s name for tax purposes. 5 years later it now makes more sense for the equity to be split equally between the two of us.
I recently got a quote for doing that from a local solicitor, who I had previously used, and was quoted £478 per property. On the face of it that seems excessive to me … however I’d just like to throw it out as a question to see if this is roughly the going rate ….and if anyone else has experience of transferring equity between spouses for tax purposes.
I’m not sure if it will make any difference to the answer but the houses are all owned outright with no mortgage.
Thanks for anyone’s help in advance and I’d also just like to say that during the 5 years of being a landlord I’ve found Property118 to be a brilliant resource.
There are many websites, forums and associations out there but this is the only one I regularly come back to and have found it to be really valuable because of the quality of advice and answers as well as people’s willingness to share their experiences openly.
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