adding third party to title

[dags]

Hi guys I have added this post in legal section as well as I think it overlaps the twoHi peeps

I have a PPOR in the names of myself and my girlfriend. Can i add a 3rd name to the title?
I am asking this as my girlfriends income has changed and is now receiving less. I would like to apply for an equity loan(increased borrowings) but now we dont meet the lending criteria.
I would like to add my brother(whom is also my business partner) to the title or have him involved in some way which the banks recognise, that will enable us to extend our loan.
Our plan is to refinance then buy an Ip.
Anyone out there have had a similar prob?
All replies are most welcome

thanks dudes

 

[Celeste]

Hi dags

It would be treated as a transfer of a % of the land to the 3rd person.

ie girlfriend would transfer to your brother a % of her holdings

It would be as tenants in common.
you can do it via - money amount or gift
and either way would more than likely attract stamp duty.

See your solicitor or settlement agent.

Celeste