Adding names to deeds

I bought a house in my own name two years ago getting a 100% mortgage. My partner has since moved in and I want to add his name to the deeds and mortgage. I know that it is subject to gift tax. I'm just wondering since I have paid very little back on the mortgage how much gift tax it would be?

You can't just 'add his name'. You will need to apply for a new mortgage in joint names and clear off teh old one. The property can then be transferred into joint names.

As for tax, that depends on the value.

If you are thinking of getting married in the near future might be best to wait for that. You can make a will in the meantime to safeguard the situation.

Thanks Vanilla
Yeah I knew that we would have reapply for the mortgage it was just the tax bit I don't know about.
House was bought for 245k.
If we were married would the tax implications be less?

There would be no tax implications if you were married, it would be considered 'family home' though not sure if you'd have to remorgage

Thanks,

Didn't know that.

if you marry can you still keep the mortgage in your own name as long as you pay the full mortgage yourself?? think of tax consqeuences etc..thanks