3rd party refinancing - bank options

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3rd party refinancing - bank options, Owner father borrower children

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Zwean	Jan 31 2020, 11:56 AM Return to original view \| Post #1
Regular Senior Member 1,269 posts Joined: Dec 2019	QUOTE(jeff_v2 @ Jan 31 2020, 08:06 AM) Hi all.. Can anyone advise on 3rd party refinancing Current owner father but due to ccris problem (od on the property) Is there any option if bank can still accept refinace borrower under children name? Reason being is to lesser the stamp duty charges (ex loan only 300k but value 700k) Pls seek any advise..tqtq appreciate Just sell the property to the kids, and get a trust written up stating that the kids are holding onto the property for the father.
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Zwean	Jan 31 2020, 02:10 PM Return to original view \| Post #2
Regular Senior Member 1,269 posts Joined: Dec 2019	QUOTE(jeff_v2 @ Jan 31 2020, 01:30 PM) With this process will it still incur stamp duty on the market value of the property? Yes, however from father to son you are entitled for a 50% stamp duty exemption.
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