Transfers of Equity Legal Advice

We’ve assisted clients throughout all areas of Property Law and Buying & Selling. In addition to Transfers of Equity, our services also include:

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Transfer Of Equity Solicitors

Your home’s equity is the value of that property once any outstanding mortgage owed has been deducted.

A Transfer of Equity occurs when a homeowner wishes to add more people to the property’s legal register (deeds) or remove existing people from that register.

For example, a transfer of equity may be needed if a couple is recently married, a partner divorces, or you want to add your current partner to the deeds.

Tinsdills Solicitors can discuss your new agreement and provide you with a Deed of Transfer; we can also advise you if a remortgage is needed to complete the Transfer of Equity.

The Transfer Of Equity Process

Once the title is provided to your legal professional, we will provide a Deed of Transfer. All those involved must sign this to begin the transfer of equity process. If the property concerned does not have a mortgage, the Transfer of Equity is less complex than if it did.

Your solicitor now supplies the Deed of Transfer to the Land Registry. If the property is provided with a mortgage, the lender must decide if they believe the remaining occupant can afford the monthly repayments. If the transfer of equity progresses, this will contribute to the overall decision.

Those who wish to change any names on the current property deeds must contact the mortgage lender; however, as with the Transfer of Equity, names cannot be changed unless the deeds are changed too.

We frequently help people with transferring equity on their property. Our experienced solicitors ensure the process is handled as smoothly as possible.

A Transfer of Equity can be a quick legal process, provided the property has no mortgage. The main delay concerns mortgages and is dependent on the lender’s decision about whether the remaining owner can keep up with the upcoming mortgage payments.

Frequently Asked Questions For Transfers Of Equity

How long does a Transfer of Equity take?

This depends upon the circumstances and whether a lender’s consent is required for the transfer of equity. The timescales can range from 4 to 10 weeks.

Can a solicitor act for both parties in a Transfer Of Equity?

In limited circumstances, it may be possible for the solicitor to act for both parties. Otherwise, each party may require separate representation.

What is a Transfer of Equity?

A transfer of equity is a transfer of a legal share in a property. A typical example is the transfer of the marital home in divorce proceedings.