Transfer of Equity

Remortgage

There are several reasons why people remortgage their property. Common reasons are to raise capital for home improvements or to obtain a better mortgage deal. Our Residential Conveyancing Department can help you quickly through this process.

We will guide you through the process of dealing with the Mortgage paperwork, any Title issues and deal with any searches or search insurance which may be required. We will also deal with the redemption of your current Mortgage and the registration of your new Mortgage at the Land Registry.

A transfer of equity is quite common when, usually, co-habitees or partners decide that they no longer want to live together, but one co-owner wishes to continuing living in the property. Subject to the consent of any lender who has a secured charge on the property, Seymours can deal with the transfer quickly and efficiently.

It will usually be transferred subject to the mortgage, but the co-owner leaving the property will be released from the mortgage. It is not uncommon for the remaining co-owner to raise an additional advance from the lender, to be able to pay out a share to the co-owner leaving the property. Alternatively, the remaining co-owner may wish to take out a completely new mortgage.

Either way, our Residential Conveyancing Department can help with you through the process and ensure the transfer is as smooth as possible. We will prepare all of the necessary Transfer paperwork, deal with any searches or search insurance which may be required. We will also deal with the registration of the Transfer at the Land Registry.

Remortgaging or carrying out a Transfer of Equity can be a significant change in your circumstances and will be an ideal time to consider making or updating your Will and Tax Planning. Seymours can provide assistance with this, please ask to be put in contact with a member of our Private Client Team.