Transfer of Equity
|We offer a free, no obligation residential conveyancing quote for a transfer of equity in a property. Complete our conveyancing quote form at the top of this page or at the bottom of our Contact page.|
At Coffin Mew we are very experienced in dealing with transfers of ownership of properties. We can assist you by checking your property deeds and drawing up the necessary paperwork. In many circumstances it will be necessary for the other party involved to instruct their own lawyer and in these circumstances we can deal with those lawyers directly.
For various reasons, during your ownership of a property, you may need to change the owners of the property. This is known as a Transfer of Equity. This may mean adding or removing someone’s name from the deeds, for example adding a husband or wife, a parent adding their child, or a separating couple removing their spouse.
It is recommended that you involve your mortgage lender early on in the process. Your mortgage lender will wish to assess the suitability of any new owners intended to be added to the deeds. If a person is being removed, your lender will wish to assess whether the remaining owner(s) will be able to afford to carry on being responsible for the mortgage on their own.
When would I require a Transfer of Equity?
- Divorce and separation
- Tax reasons
What are the costs involved in a Transfer of Equity?
Your lawyer can advise you on the costs involved in relation to the transfer of equity. These costs will include a Land Registry fee payable for amending the names on the deeds at the Land Registry, and potentially Stamp Duty Land Tax (SDLT). We can advise you on whether any SDLT will be payable.
At Coffin Mew we offer a free, no obligation quote for transfers of ownership, request a quote on the top right of this page.
You should always take advice from a legal professional when carrying out a Transfer of Equity. If you would like further information contact us today on 023 9238 8021 or fill in the enquiry form. You can also obtain a quote for your transfer of equity using our calculator on the right hand side of this page.