Stamp duty and mortgages
Generally on a transfer with no consideration there can be no stamp duty charge. But there is an exception if a mortgage is wholly or partly transferred.
If one party assumes a debt this is treated as consideration. If the value of this consideration exceeds £40,000, and the person concerned holds an interest in more than one residential property, this will attract 3% stamp duty (up to £125,000) on the share of mortgage taken on.
There is no spousal exemption for SDLT.