Property Gift & Beneificial Interest

[JJ1971]

My wife and I are to be gifted her mothers property who will then live with us. There is no mortgage and the purchase price was £37k and is now valued at £150k
We plan to mortgage as a BTL and have full ownership but transfer the beneficial interest to our children.
I am looking for clarification on any SDLT payable which I believe there isn't. I also believe that CGT will not be payable for as it is her only property and has lived in it for 40 years and would only be payable by us when eventually sold. IHT would also not be a factor as the value is within the IHT threshold regardless of the 7 year rule.

Can anyone provide clarification.

[bd6759]

As you say, no CGT for mother because the disposal is covered by the residence exemption.

No SDLT for you because the consideration is nil.

Not sure how you can have full ownership and give it to your children. That’s a contradiction. Also confused at your wish to mortgage it. What are you trying to achieve here?