Stamp duty on transfer between spouses?

[greenjersey]

If my wife very kindly transfers the ownership of her BTL property to me will I be liable to pay stamp duty? Thanks

[Peter D]

Potentially yes. It depends on the size of the mortgage, if any. Has your wife ever lived in the property. If she has then she will loose PPR and Letting relief. Best tell us the whole story. Regards Peter

[greenjersey]

Thanks for responding. my wife bought the property new four years ago and lived in it for two years then has let it for two. It is currently let on an AST. The value hasn't increased much over this time as she probably overpaid as she was very keen.

[greenjersey]

I forgot to say the value is about £250k and she has a £120k mortgage. I plan to give her the equity and take over the mortgage.

[King_Maker]

Was she unmarried when she bought the property?