New Posts For Thread: house swaphttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swapHi looking to swap houses with my Dad. Would it just be stamp duty and solicitors fees for expense?And how far can we lower the price (market price) of both houses to pay less stamp duty.By the way the houses are of similar value (zooplar website) chC&Ghttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swap?post_id=425962654#425962654C&GWed, 13 Jan 2010 06:33:11 -0600Need to apply to the lender in same way as any other house purchasen . Providing your income still supports the mortgage should be no problem. Survey will have to be done, and mortgage offer issued. Who is the mortgage lender?https://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swap?post_id=425962634#425962634Need to apply to the lender in same way as any other house purchasen . Providing your income still supports the mortgage should be no problem. Survey will have to be done, and mortgage offer issued. Who is the mortgage lender?Tue, 12 Jan 2010 09:37:42 -0600Does any one know if I will need to make a deposit on the house swap. The mortgage I'll be taking with me will not change ie Will owe the same as I did before the swap. Both houses will have equity in them after swap.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swap?post_id=425962626#425962626Does any one know if I will need to make a deposit on the house swap. The mortgage I'll be taking with me will not change ie Will owe the same as I did before the swap. Both houses will have equity in them after swap.Tue, 12 Jan 2010 05:32:23 -0600who would decide on the market price for both properties? We are looking for a straight swap ie identical selling prices.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swap?post_id=425962566#425962566who would decide on the market price for both properties? We are looking for a straight swap ie identical selling prices.Fri, 11 Dec 2009 08:14:38 -0600does this not fall four of our mortgage contracts?If one, or both of the properties are mortgaged, then Stamp Duty is unavoidable. If both properties are owned outright they can be gifted and would be exempt from Stamp Duty.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swap?post_id=425962562#425962562does this not fall four of our mortgage contracts?If one, or both of the properties are mortgaged, then Stamp Duty is unavoidable. If both properties are owned outright they can be gifted and would be exempt from Stamp Duty.Fri, 11 Dec 2009 08:05:46 -0600"fall foul"https://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swap?post_id=425962558#425962558"fall foul"Fri, 11 Dec 2009 06:46:10 -0600The Investor 10 Dec 17:14 You could consider the option of swapping the houses you live in, but retaining ownership of your own houses and not charging each other rent.Unless you or your father plan to do major works on one of the houses, it wouldhttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swap?post_id=425962554#425962554The Investor 10 Dec 17:14 You could consider the option of swapping the houses you live in, but retaining ownership of your own houses and not charging each other rent.Unless you or your father plan to do major works on one of the houses, it wouldFri, 11 Dec 2009 06:45:40 -0600No it will be a straight swap. Thanks for the responses.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swap?post_id=425962550#425962550No it will be a straight swap. Thanks for the responses.Fri, 11 Dec 2009 06:40:50 -0600You can not swap houses without stamp duty being paid. Stamp duty is paid on the value of a property when a sale /transfer of equity takes place.There is no getting around it.You will also need a solicitor to register the properties. A few year ago ihttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swap?post_id=425962546#425962546You can not swap houses without stamp duty being paid. Stamp duty is paid on the value of a property when a sale /transfer of equity takes place.There is no getting around it.You will also need a solicitor to register the properties. A few year ago iFri, 11 Dec 2009 03:03:43 -0600could you escape Inh tax by saying you lost the house at a game of poker?https://community.betfair.com/tradefair__financials/go/thread/view/94198/23725846/house-swap?post_id=425962542#425962542could you escape Inh tax by saying you lost the house at a game of poker?Thu, 10 Dec 2009 15:40:58 -0600