Changing names in title deeds can be complicated.
Speak to a name you can trust.
Marriage, divorce, cohabitation, a gift...there are many reasons why you might want to change the name on a property deed. Plus, if there’s a mortgage on the property, the lender has to approve it too. Our property experts make it as simple as possible to make sure your property and interests are always protected.
Expert support, complete understanding.
A transfer of equity is when someone is added or removed from the title deeds of a property, often as a result of a change in circumstances such as marriage or divorce, cohabitation, gift of property or an internal family transfer. When this occurs, if there is also a mortgage on the property, the mortgage lender will need to provide their consent to the transfer.
To make your equity transfer stress-free, we make sure to understand the circumstances behind your equity transfer – even drawing on the knowledge of our expert Family or Wills, Probate & Lifetime Planning teams if it’s relevant. So all your wishes will be respected and all your questions will be answered.
Our expert Residential Property Team can guide you through the equity transfer process, drawing in specialist expertise from our Family and Wills, Probate & Lifetime Planning Teams where it is required, to ensure that your property and interests are protected.
Our advice covers:
Buying, selling and mortgaging any residential property
Remortgaging your property
Lifetime mortgages
Buy to Let mortgages
Help to Buy ISAs
Lifetime ISAs
Capital Gains Tax
Working With Our Service Team
Our diverse and innovative team will work in partnership with you and the wider professional community to add value, simplify the legal process and mitigate risks. You can rest assured you’re working with property experts who work tirelessly on your behalf and keep you updated every step of the way.
- Hayley Griffiths
If you have an enquiry in relation to Residential Property or simply want to speak to a member of our expert team, please get in touch.
A transfer of equity is the process of transferring the equity within a Residential Property to another party.
There are no restrictions as to who you can do a transfer of equity to, however, you must note that if you move the property into your child’s name they could face tax implications should they sell the property in the future.
Yes you can complete a transfer of equity even if there is an outstanding mortgage still in place, however, the mortgage lender will need to run their own checks against the new person taking on the outstanding mortgage. If they do not approve to move the mortgage into the new person’s name, then you will need to resolve your mortgage directly with the lender.
Stamp Duty will only need to be paid if there is a financial consideration for the transfer and/or there is still an outstanding mortgage. You will only pay stamp duty on the chargeable consideration and /or outstanding mortgage value instead of the total property value.
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