Hi, I am considering buying my partner out of our house as we are splitting up but I wonder could anyone give me some simple answers to the following:
Current mortgage is 214k (purchase price of 235) and the current house value is 300k, gross profit of 65k - Can I just give him 30k approx and change the name on the deeds/mortgage?
We had to pay stamp duty even though we were first time buyers as the exemption came in the budget after we bough - will i have to pay more stamp duty even though it's my 'family home'?
If I do have to pay stamp, can i release equity from the house value increase to cover this?
Would appreciate any assistance or direction you can give me!
thanks
Trish