Transfer of Equity Solicitors – Get An Instant Quote
We offer expert advice on transfer of equity in various contexts
Let us protect everyone involved in the property transfer especially where you have a mortgage on the property.
Why choose Eric Robinson Solicitors?
- Get an instant online quote tailored to your needs
- Specialist property lawyers with experience in buying and selling
- Law Society’s Conveyancing Quality Scheme (CQS) accreditation
- Latest paperless technology making conveyancing easy
Transfer of equity FAQs
What is a transfer of equity?
A transfer of equity will occur where a sole owner of a property adds one or more people to the ownership, or where an existing owner of the property sells their share to those owners who will remain.
How complicated is a transfer of equity?
The legal process that applies is relatively straightforward. The main issues to have a mind are whether the proposed transfer of equity is dependent upon a remortgage, or whether one of the parties is required to raise monies to purchase the other parties share.
Do you have to remortgage when undertaking a transfer of equity?
It sometimes necessary for a remortgage to happen alongside a transfer of equity but it is not an absolute rule. A remortgage can sometimes be said to be more likely where one co-owner is acquiring the other co-owner’s share so that the acquiring party becomes the sole owner of the property. In these circumstances any existing mortgage lender would need to give their consent to the mortgage being transferred into the sole name of the retaining party. The lender’s consent would be based on their normal lending principles and the retaining party will be required to demonstrate that they can meet the lender’s affordability criteria.
Can my partner buy into my house?
If this is something that you are willing to do then you are at liberty to make your partner a joint owner. Adding your partner to the property’s title deeds will require the consent of your mortgage provider and it is likely that your mortgage company will insist that your partner becomes a party to the mortgage. You would be wise to take legal advice before making your partner a joint owner because you may well need a property ownership trust drawn up if you will be owning the property in unequal shares. It would also be wise to consider entering into a co-habitation agreement.
Can I remove my ex-partner from the title deeds to our jointly owned property?
This is the sort of scenario that is covered by a transfer of equity. If it has been agreed that you will be acquiring your ex-partner’s share in the property that this agreement can be formalised by reason of a transfer of equity. The transfer will probably be conditional on your lender agreeing for the mortgage to be transferred into your sole and you will no doubt need to pay your ex-partner the value of their equity. In the event that you existing mortgage lender is not willing to transfer the mortgage into your sole name you will need to find a new lender and this will require you to complete a remortgage alongside the transfer in equity.
Why is a transfer of equity important if I am no longer residing at a jointly owned property?
Under the terms of a jointly held mortgage each party will remain liable to pay the monthly payments until the lender has agreed to release the party who has left the property. This means that even if you have left a property you remain fully liable for the mortgage and you can be pursued for any missed payments and arrears. By completing a transfer of equity and a simultaneous remortgage you are ensuring that you are released from your former obligations.
Can I use a transfer of equity to change the ownership shares of co-owners?
The transfer of equity process can be used to change the ownership shares of the co-owners of jointly owned property.
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A very inclusive service
I had had a bad experience with conveyances and decided to switch to Eric Robinson on local recommendation for a sale and purchase. I am registered severely site impaired and spoke to Megan about this and I have been very impressed with how both Emma and Megan have worked with me to accommodate this and ensure I fully understood all the written information I needed to. They have both been extremely responsive to emails and phone calls and it has helped to reduce stress associated with moving. Thank you, EMMA and Megan.
We have been guided and helped by…
We have been guided and helped by Hazzra Huxford with our house move. She has exceeded all expectations and has been so brilliant. We have felt fully supported throughout. She is efficient, professional, and so helpful. It has made the whole complicated process, easy. Answering all of our questions, which there have been a lot! Plus notifying us of things that we otherwise would have missed. She has fought for us, when we didn’t expect it. I can’t even put in to words how grateful we are to have had your help Hazzra. Thank you so much!
Excellent friendly service
Eric Robinson solicitors provided excellent service when I updated my will. Kelly Smith was professional and knowledgeable whilst remaining friendly and approachable. I was kept fully informed of progress and the process was completed swiftly and efficiently. I highly recommend Kelly Smith and Eric Robinson solicitors Francis Sanders
Hazzra recently helped me with the sale…
Hazzra recently helped me with the sale of my property, and I could not recommend instructing Hazzra enough! Hazzra was professional, thorough and extremely organised from the very beginning. I did not have to chase Hazzra once throughout the entire process, her communication was excellent and she explained every step and in a really clear and concise way. Any questions I had were answered promptly and efficiently. Hazzra was kind, considerate and patient throughout the process. A big thank you to Hazzra for making this sale seem so much more stress-free than first anticipated!
Excellent service…
Chantelle got the job done as professionally and quickly as possible despite other parties dragging their heels.
Really pleased with the way that Hazzra…
Really pleased with the way that Hazzra Huxford dealt with the sale of my deceased mum’s house. Professional, responsive and generally top-draw. The responsiveness couldn’t have been better (and this is crucial in dealing with such matters), she was on it from the word go. Couldn’t have asked for more, and feel I lucked out having her do my convenancing.
A very inclusive service
I had had a bad experience with conveyances and decided to switch to Eric Robinson on local recommendation for a sale and purchase. I am registered severely site impaired and spoke to Megan about this and I have been very impressed with how both Emma and Megan have worked with me to accommodate this and ensure I fully understood all the written information I needed to. They have both been extremely responsive to emails and phone calls and it has helped to reduce stress associated with moving. Thank you, EMMA and Megan.
We have been guided and helped by…
We have been guided and helped by Hazzra Huxford with our house move. She has exceeded all expectations and has been so brilliant. We have felt fully supported throughout. She is efficient, professional, and so helpful. It has made the whole complicated process, easy. Answering all of our questions, which there have been a lot! Plus notifying us of things that we otherwise would have missed. She has fought for us, when we didn’t expect it. I can’t even put in to words how grateful we are to have had your help Hazzra. Thank you so much!
Excellent friendly service
Eric Robinson solicitors provided excellent service when I updated my will. Kelly Smith was professional and knowledgeable whilst remaining friendly and approachable. I was kept fully informed of progress and the process was completed swiftly and efficiently. I highly recommend Kelly Smith and Eric Robinson solicitors Francis Sanders
Hazzra recently helped me with the sale…
Hazzra recently helped me with the sale of my property, and I could not recommend instructing Hazzra enough! Hazzra was professional, thorough and extremely organised from the very beginning. I did not have to chase Hazzra once throughout the entire process, her communication was excellent and she explained every step and in a really clear and concise way. Any questions I had were answered promptly and efficiently. Hazzra was kind, considerate and patient throughout the process. A big thank you to Hazzra for making this sale seem so much more stress-free than first anticipated!
Excellent service…
Chantelle got the job done as professionally and quickly as possible despite other parties dragging their heels.
Really pleased with the way that Hazzra…
Really pleased with the way that Hazzra Huxford dealt with the sale of my deceased mum’s house. Professional, responsive and generally top-draw. The responsiveness couldn’t have been better (and this is crucial in dealing with such matters), she was on it from the word go. Couldn’t have asked for more, and feel I lucked out having her do my convenancing.
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Why choose Eric Robinson Solictors?
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- Specialist property lawyers with experience in buying and selling
- Law Society’s Conveyancing Quality Scheme (CQS) accreditation
- Latest paperless technology making conveyancing easy
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