Transfer of Equity involves legally changing the ownership of your property to either include or remove another person from the property title.
There are a number of situations which require the need for a transfer of equity on your property. These include:
The transfer of equity process will differ depending on your individual situation. In most cases, the first step will be to gather all of the necessary information about the transfer of equity request. After this, the conveyancing solicitor will need to confirm the title documentation with the Land Registry. Your solicitor will also confirm with your mortgage lender that they are happy with the transfer of equity. Stamp Duty Land Tax may be due if there is a mortgage on the property but it won’t always be necessary if there is a gift of land. Once the transfer of equity has been signed off by all parties involved, your conveyancing solicitor will then provide a financial statement outlining any monies due to any parties involved. Once all funds have been received and everything is signed, the transfer of equity process is complete. After the completion date, you will be provided with an updated copy of the Land Registry documents.
Gorvins Residential expert transfer of equity solicitors can guide you through the transfer of equity process making it easy and understandable for you. Whether we are acting for the party whose share is reduced or the party whose share is to increase, we will ensure you know what is happening at all times.
Through a very stressful process buying a first home, Gorvins were confident and collected. Able to deliver what they promised and kept me updated through the stages. I was glad to have No Stress experience with our conveyancer in amongst the chaos of the rest of it.
Used as recommended by my mortgage advisor for a remortgage. My case was dealt with by Natasha Sands and she made it complete smoothly and to my satisfaction. Communication was great and all my questions answered promptly. Will not hesitate to use again next time.
Fantastic service and for a fair price, special thanks to Joseph Hirst who dealt with my account from start to finish and was always on hand to deal with any queries I had, always got back to me in good time and made the whole process as stress free as possible.
Go with Gorvins, if you want peace of mind!
I recently instructed Gorvins to act on my behalf in the purchase of 5 apartments in Liverpool. I am happy to report that I was more than pleased with their performance.The services provided by the person in charge of the file at Gorvins was most professional, reliable and efficient. In fact she went out of her way to help in aspects which was not her responsibility and as a result the deal went through smoothly.
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