Transfer Of Equity

Based in Coventry city centre, we are one of the busiest Residential Property Solicitors in Coventry and Warwickshire.

Our reputation for excellence in quickly and effectively managing transfers of equity in residential property is known throughout Coventry, Warwickshire and across the Midlands.

You can be confident that by instructing us, your transfer of equity will run smoothly.

We are a diverse law firm, with multi-lingual solicitors that use best-in-class technology to provide clients with streamlined, modern, and highly effective residential property advice and representation. Our solicitors have years of experience in conveyancing law which means that we have a robust reputation for excellence with the UK’s best Barristers and King’s Counsel, Estate Agents, Independent Financial Advisers, Surveyors, and Mortgage Brokers who can bring additional support to our Residential Conveyancing Department if required.

How we work

Meticulous attention to detail is required when transferring equity. Our Residential Property Solicitors will work from the outset to ensure every step of the process is carefully prepared, make recommendations to protect your interests, and handle all details of the equity transfer on your behalf. We will make sure the process is as stress-free as possible and will keep you updated as each step is completed.

We are proud of our personal service to all our clients and where possible we are contactable by phone and will respond to your email within 24 hours. As well as being responsive, everyone on our team is committed to providing friendly, helpful, proactive service that you can trust. Furthermore, we offer a fixed fee service and flexible appointments at our Coventry office and can visit you in your home if you are unable to travel.

All our specialist Residential Conveyancing Solicitors have the experience and resources available to ensure that every aspect of your transfer of equity that requires attention will be spotted, brought to the fore, and managed. You can be assured we have an eye for detail and will bring any problems to your attention and recommend the best approach to move forward. We hold a Law Society Conveyancing Quality Accreditation, meaning we are recognised as having the capability to provide quality conveyancing advice, use a regulated process to recognise and reduce risk, and meet Law Society standards when providing conveyancing services.

What is a transfer of equity?

If you have been recently divorced, remarried, or moved in with your partner, you may wish to remove the name of one person listed on the title of your property and/or add someone else’s name to the document. This process is referred to as a transfer of equity.

Why do I need a Solicitor when I am transferring equity in my property?

You will need a Conveyancing Solicitor to advise and represent you in transferring equity in your home, especially if there is a mortgage on the property.

In situations where one owner is having their name removed from the title, they will also need to be released from any mortgage obligations. This can be achieved by:

Paying off the transferor’s share of the loan.
Remortgaging the property to secure the money needed for one party to buy the other out.
Transferring the mortgage as part of a buy-out.

Our Transfer of Equity Solicitors will carefully examine your situation and advise you on the most appropriate option.

Can I use a transfer of equity to gift my property to my children?

Yes, however, you will need to be aware of inheritance and capital gains tax issues. Because we are a full-service law firm, we can collaborate with our Private Client department and work out the best solution to ensure you can pass your property onto your children.

Will there be a stamp duty charge?

Stamp duty may apply if you are transferring the equity in a property into joint names, something that is commonly done upon getting married. Although no money is changing hands, the new owner is becoming responsible for 50 per cent of the mortgage on the property. This may result in a stamp duty charge. We will provide you with all the advice you need about stamp duty fees associated with your transfer of equity and ensure any tax owed is paid promptly and in full.

Why choose us?

Getting married, divorced, or deciding to gift your property outright to your children are often unexpected life events. You can trust that our Solicitors will take care of the transfer of equity process and undertake all the necessary steps.

People choose and recommend us not just in Coventry, Nuneaton, Rugby and Leamington, but across Warwickshire, the Midlands and the whole of the UK., because we care about them, their family, and their future. We are focused on results and achieving them in the most cost-effective, efficient way possible. Our Residential Conveyancing Solicitors will take care of every aspect of your transfer of equity so you can get on with other areas of your life.

To talk to us about transferring equity in your property, please contact us using the form below, call us on Coventry (02476) 231000, email enquiries@askewslegal.co. or visit us at our city centre offices in Coventry.