I agree with Simon. If there is no agreement to ‘change’ the share of the mortgage liability each party is responsible for, then there should be no sdlt issue.
As regards, the ‘technical’ breach of mortgage conditions, how relevant is this? I recall reading a Sweet and Maxwell Declaration of Trusts handbook which is now on its fifth edition and I don’t think the point is raised. Has anyone ever had experience of a mortgage company taking the point, or has any practitioner ever advised the mortgage company that the declaration of trust has, or will be entered into?
Haroon Rashid
I Will Solicitors Ltd