Transfer Of Equity

A transfer of equity is an industry term for whenever a change is made to the ownership of a deed of a house.

Examples of an equity transfer could be adding a spouse to the deed after marriage, removing a friend’s name after buying them out their share, or even changing ownership entirely (such as a parent transferring a property to their child).

The term comes from the equity in a house; if you own a house worth £300,000 and you have a mortgage of £100,000, then your equity is £200,000. If you sold the property, the £300,000 would be split according to what is written on the deed. In this instance, £200,000 would go to the property owners and £100,000 to the mortgage lender.

What if I want special conditions on the transfer?

Any conditions can be placed on a transfer to protect your interest. Examples include instances where you give your children your property, but make sure they cannot sell it while you still live there. Alternatively, you may add a family member to the deeds and need to make sure the money you have already paid goes to you upon sale, with the rest being divided equally.

We can talk you through the transfer of equity process – and your solicitor will be able to advise you on the best way to legally enforce your terms.

Will I have to visit the office?

No. You can have your ID documents certified locally and sent to us, and we will complete the whole process without you having to visit.

How does it work?

  1. We’ll talk through your needs and provide you with a fixed quote.
  2. Once you accept the quote, our solicitor will send you all the necessary paperwork immediately.
  3. Simply return the paperwork signed, complete with your certified copies of ID and proof of address. Once all parties on the deed have given permission – including the lender – a deed of transfer will be granted.
  4. Documents will be signed by parties coming onto or leaving the deeds.
  5. We will complete the appropriate documents at the Land Registry, and will register additional items.
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Our Transfer of Equity fees start from £300 plus VAT, with typical disbursements for a standard transaction being around £100.