Pay off mortgage - change ownership percentages of house
Discussion
I own a house jointly with my partner - ownership is split 80%/20% in my favour (as I put in more of the initial deposit).
There is a relatively small amount outstanding on the mortgage. My partner has come into some money and we would like to pay this off and adjust the ratio of the house ownership to 65%/35%.
What is the easiest way to achieve this?
Would any stamp duty be payable (15% of the house value is less than the stamp duty threshold but the whole house value is above it)?
There is a relatively small amount outstanding on the mortgage. My partner has come into some money and we would like to pay this off and adjust the ratio of the house ownership to 65%/35%.
What is the easiest way to achieve this?
Would any stamp duty be payable (15% of the house value is less than the stamp duty threshold but the whole house value is above it)?
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