Stamp Duty and fees question

[mins]

I am on the title and mortgage for my brothers house. This was to assist with affordability at the time.

He has now been in a relationship for 12 months and they are talking about his girlfriend moving in and selling her property. I have suggested that she "buy into" my brothers house and remove me from the loan.

Of course this is subject to the 2 of them being able to meet affordability to refinance the loan etc. Can someone please assist me with what the potential fees and stamp duty might be to take my name off the title and mortgage and add his girlfriend?

Thanks

 

[Terry_w]

I am on the title and mortgage for my brothers house. This was to assist with affordability at the time.

He has now been in a relationship for 12 months and they are talking about his girlfriend moving in and selling her property. I have suggested that she "buy into" my brothers house and remove me from the loan.

Of course this is subject to the 2 of them being able to meet affordability to refinance the loan etc. Can someone please assist me with what the potential fees and stamp duty might be to take my name off the title and mortgage and add his girlfriend?

Thanks

stamp duty would be calculated on the market value of your share. OSR has a calculator on their website.

Discharge of mortgage is about $120 as is registration. Any loan exit fees would probably apply too.