Transfering the deed

[mr_lash]

In February of this year I bought a house with my girlfriend. Later that month we broke up and agreed that since I had paid for everything that the house would be put into my name only. After getting an agreement from the mortgage company that this was ok I contacted the solicitor who took care of the house purchase. She has since sent me a quote to do the transfer which includes £550(est) for stamp duty (the mortgage is 160k). Do I really have to pay stamp duty to have the house transfered into my name only? If so why is it only £550?

Cheers

[jbaileycta@btopenwor]

I am afraid you probably do have to pay stamp duty.

I assume you took over responsibility for your girlfriend's share of the mortgage. If so, the amount of the mortgage that you took over from her is "chargeable consideration" for Stamp Duty Land Tax purposes. If you think about it, you have effectively "paid" her that sum, by releasing her from the debt.

As for the exact rate payable, it is difficult to be certain without knowing all the details. I am sure your solicitor will give you a breakdown of how the figure was calculated.