Stamp Duty adding wife to BTL property

[ndobson1b]

Hello,

Would someone be able to advise on the Stamp Duty due on the following:

Adding wife to the mortgage on one of my BTL properties. Property is valued at £245,000 and the joint mortgage is £176,000 - what is any stamp duty is to be paid? We will be tenants in common and have a 50/50 split.

Thanks in advanced

[maths]

3% charge will apply. Chargeable consideration on which SDLT will be based is 88,000.