Transfer of Equity
A transfer of equity is when someone is added or removed from the title of the deeds e.g. a homeowner adding their husband/ wife. You must also pay stamp duty when adding or removing someone from the deeds. The process of transferring equity can be a complex or relatively simple process depending on your circumstances.
If you have no mortgage on your property and no money is changing hands, then transfer of equity can be quite a simple process (depending on how fast you can provide and return certified documents).
If you wish to transfer equity and you have a mortgage you must first get permission from your mortgage lender. This is because the names on the mortgage deed need to match the names on the transfer deed.
Jeffrey Mills Solicitors is experienced in this field and will treat each transaction with diligence whether the client is a first time buyer or an experienced property developer; we have the expertise you require. We also offer competitive fees for any of the above transactions and if you would like a quote simply call or send us an email. We can work within a fixed fee if that is appropriate.
Contact your specialist for advice.
Tel: 01480 219699