Transfer of Equity

Your specialist equity of transfer solicitor will guide you through your personal transfer of equity process

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Changing property ownership? Understand your options with a transfer of equity

A Transfer of Equity is the legal process of adding or removing a joint owner. It can be a complex process and it may be necessary to obtain mortgage lender consent, file a Stamp Duty Land Tax or notify third parties of the change of ownership. Sometimes there are also tight deadlines to observe. Your lawyer will be able to guide you through the Transfer of Equity process.

Key Contact

Nadine Stevenson

Partner

When will I need to use a Transfer of Equity?

All situations are unique and require tailored, specialist advice so please get in touch with our expert team to discuss further. Common reasons for transferring equity include:

Transfer of Equity process

1. Speak to us

If you are thinking about a Transfer of Equity, have a chat with one of our friendly team to check whether this is the right option for you and ensure you understand the potential legal or tax implications.

2. Gather your documents

You will need to supply information such as your ID, mortgage details, the names and address of anyone being removed or added to the title plus their lawyer’s details.

3. Contact your mortgage lender

Your lender must approve the change if the property is mortgagee and you do not intend to redeem the mortgage. You may like to have this conversation before instructing us and incurring legal costs.

4. Drafting the transfer deed

We will draft or, if prepared by another lawyer, review and approve the transfer deed and arrange for it to be signed by you ahead of completion.

5. Liaise with your mortgage lender

If you are keeping your current mortgage, we will liaise with the lender to ensure incoming owners take on like obligations under the mortgage or outgoing owners are relieved from obligations.

6. Stamp Duty Land Tax (SDLT)

If money is changing hands or debt is being transferred, SDLT may be payable. We have experience calculating this and can file a tax return on your behalf. If there is a tax liability, we will collect monies from you and handle payment of SDLT on completion.

7. Register the change with the Land Registry

We will submit the signed documents to HM Land Registry and ask them to update the title to reflect the change of ownership.

Speak to a solicitor

If you need to change the ownership of a property,whether due to separation, gifting equity, or tax planning, our specialist Transfer of Equity solicitors can guide you through the process. From lender consent to Stamp Duty Land Tax, we’ll handle the complexities and provide clear, practical advice tailored to your situation.

If you’d like to discuss your options or start the process, you can call, email, or visit any of our seven offices to speak with our friendly team.

Call us

With seven offices around the South West of England, we have multiple offices you can call.

Select the office to call

Email us

If you would like to drop us an email you can on info@goughs.co.uk

Visit us

With offices in Calne, Chippenham, Corsham, Devizes, Melksham and Trowbridge, you can pop in and see us. View office locations.

Why Goughs?

Tailored Approach

We are a multi-disciplinary firm that draws on expertise across different departments and provides bespoke advice to each client. We take the time to understand you to provide you with the most practical solution.

Friendly Team

We are open and approachable. We like to establish long-term relationships with our clients and their families to get to know you and your needs.

Transparency

We are transparent about our costs upfront so you know exactly what you’re paying for.

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Your local transfer of equity solicitor since 1882

Transfer of Equity FAQs

How long does it take to complete a Transfer of Equity?

The process will depend on your personal circumstance. The transfer of an unmortgaged property tends to complete more quickly than a mortgaged property where a lender may check affordability and obtain property valuations. If you have a particular timescale in mind, please discuss this with us.

How much does a Transfer of Equity cost?

The cost will vary depending on the circumstances and the value of the properties involved. The price can be influenced by factors such as the property not being registered at the Land Registry, tight timescales and the property being leasehold. We will discuss such factors with you at the outset and will endeavour to make your estimate as accurate as possible.

Our clients rate us as excellent

Corsham

Well-managed transaction handled promptly and professionally. We have used Goughs before, will use again and would not hesitate to recommend

Sue Jenkins

Nadine has been excellent throughout, keeping us regularly informed of all progress and we liked her very practical approach to things. The support staff at Goughs have also been excellent throughout, hence, instructing Goughs on 4 property matters. Nothing too much trouble and all requests were dealt with very swiftly

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Devizes

I have used Goughs solicitors for conveyancing on more than one occasion. Extremely efficient and professional and wouldn’t hesitate in recommending them