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Transferring Equity
As well as the sale and purchase of homes, we also offer the transfer of equity and remortgaging.
Our expert conveyancing team are qualified to deal with all conveyancing queries from simple to more complex. That’s why True Solicitors LLP are perfect for dealing with your equity transfer.
Contact us today on 0344 854 7000 to discuss your equity transfer. Alternatively, you can complete the form below and we will call you back at a time that’s convenient for you.
What is an equity transfer?
Transferring equity means to add a person from a mortgage when remortgaging. The process involves the changing of legal ownership of the property and therefore requires a solicitor.
A solicitor will amend the deeds of ownership and draw up new paperwork stating how you will now own the property.
How much does transferring equity cost?
It will cost an estimated £660 including VAT to transfer equity with TRUE. A full breakdown can be found on our Transferring equity fees page.
What’s the process for transferring equity?
Once you’ve decided you need to transfer equity, you should follow the steps below:
- Find your new mortgaging
- Apply for the mortgage
- Instruct your conveying solicitor like TRUE
- Provide the required documents
- Let us take care of the paperwork
- Complete on your mortgage deal
Why and when would you need to transfer equity?
There are several situations in which you may need to transfer equity:
- You want to add a new person like a spouse or partner to your mortgage
- You and someone jointly own a house and they/you want to buy you out the other
- You want to gift your home, most likely to your children as part of estate planning
Do I need to instruct a solicitor for an equity transfer?
Yes, you must instruct a solicitor to transfer equity and remove a person from a mortgage.
How long does transferring equity take?
Straightforward equity transfers will take around four weeks to complete. However, more complex queries will take longer.
