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How does the stamp duty work, I presume you can gift her the part that you own equity on, but its the mortgaged part that she is buying from you that is eligible for stamp duty? Is that correct?
Hovis-
From what @Soul says, you just treat whatever slice of the place she's buying as a purchase. So if that chunk is large enough to breach the stamp duty limit, you have to pay. But the slice we're talking about isn't big enough to breach that limit.
I'm sure I'll get a proper steer from the conveyancing solicitor in time - they're the ones who handle the calculation and payment of stamp duty, right?
Sparky
I'm after a conveyancing solicitor to draw up a deed of trust, setting out how Mrs Sparky is buying part of my flat. Any recommendations? Does anyone know roughly what it'll cost? We'll also need wills, so that the other half gets the rest of the flat if the worst happened.
Also, does anyone know how stamp duty will work? Presumably if she's taking on 25% of the flat, she'll pay 25% of the stamp duty that would be due on the sale of the whole place?