There can be various reasons to transfer ownership of a share in a property; for example, when a sole owner transfers ownership into two names or when joint owners transfer ownership to just one of them.
Whatever your reason for transferring equity in a property, you need expert legal support to make sure everything is carried out correctly, keeping you and your property safe at all times. Good legal guidance can also help the process to go ahead on schedule, while minimising the risk of any potential problems now or in the future.
At Devereux & Co, our Conveyancing Quality Scheme (CQS) accredited team have decades of experience handling transfer of equity conveyancing for all types of property. Our friendly, expert team will listen to your needs and concerns, then make sure we deliver an exceptional service that matches your personal requirements.
We know that dealing with these kinds of property matters can be highly stressful, especially given that for most of us, our home is our most valuable asset. We aim to minimise that stress by combining seasoned legal expertise, excellent communication and a personal approach to give you the exceptional conveyancing service you deserve.
Want to see how much your transfer of equity conveyancing might cost? Contact your local Devereux & Co branch in Shirehampton or Westbury on Trym or fill out our online enquiry form for a quick response.
The transfer of equity process explained
There are various steps to transferring equity in your property. Our friendly, expert conveyancing solicitors in Bristol can guide you through every stage of the process, including:
- Investigating the Title to ensure the existing owner has a good Title to the property.
- Submitting a return to HMRC in respect of Stamp Duty Land Tax. Usually this will be unnecessary unless the party acquiring a share is making a payment in excess of £40,000.
- Registering the change of ownership at the Land Registry.
If the property is to be transferred subject to an existing mortgage, the owners (old and new) must make a joint application to the lender. This is known as a ‘Transfer of Equity Application’. The outgoing owner is sometimes released from his mortgage obligations in return for the new owner agreeing to be bound by them.
Sometimes a transfer of equity is coupled with a re-mortgage; this has the effect of automatically releasing the outgoing owner from the old mortgage when it is discharged.
How much does transfer of equity conveyancing cost?
The cost of conveyancing for transferring equity will depend on various factors, including:
- The value of your property
- Whether it is leasehold or freehold
- Whether this is your main residence or not
Looking for a competitive quote for your conveyancing? Please get in touch.
How long does transfer of equity take?
This will entirely depend on the circumstances, but most standard transfer of equity transactions can be completed in around 4-6 weeks.
Why choose our transfer of equity solicitors in Bristol?
Our conveyancing solicitors in Shirehampton or Westbury on Trym aim to provide exceptional service for every transfer of equity transaction. When you work with our experienced, approach team, we can offer you:
Conveyancing Quality Scheme (CQS) accreditation
With accreditation from the Law Society’s Conveyancing Quality Scheme (CQS), you can be confident of a safe, reliable conveyancing service that meets the highest legal standards.
Exceptional attention to detail
We will treat every detail of your transaction with close attention to detail, helping to keep your transfer of equity on schedule and reduce the risk of future property issues.
Personal attention from an experienced conveyancer
An experienced member of our conveyancing team will handle your transaction from start to finish, so you always know who to turn to with a question or for an update on progress.
We will keep in touch regularly through the course of your transaction, so you always know what is going on and how much longer it is likely to take to complete your equity transfer.
Clear, competitive fees
You will be given a fixed fee quote upfront that clearly breaks down all of the costs involved in your transfer of equity conveyancing, with no “hidden extras” to worry about.
Contact our transfer of equity solicitors in Bristol
For help transferring equity in your property or a no obligation quote, please contact our Bristol conveyancing solicitors now.