Transfer Of Equity
Based in the heart of Nuneaton, we are one of the busiest Residential Property Solicitors in Nuneaton and Warwickshire.
Our reputation for efficiently managing transfers of equity in residential property is recognised throughout Nuneaton, Warwickshire, and across the Midlands.
By instructing us, you can be confident that your transfer of equity will be handled smoothly and professionally.
We are a diverse law firm with multi-lingual solicitors who utilise best-in-class technology to deliver streamlined, modern, and highly effective residential property advice and representation. Our solicitors have extensive experience in conveyancing law, which has established our robust reputation for excellence among the UK’s top Barristers and King’s Counsel, Estate Agents, Independent Financial Advisers, Surveyors, and Mortgage Brokers who can provide additional support to our Residential Conveyancing Department if needed.
How We Work
Transferring equity requires meticulous attention to detail. From the outset, our Residential Property Solicitors will ensure every step of the process is thoroughly prepared, make recommendations to protect your interests, and manage all aspects of the equity transfer on your behalf. We aim to make the process as stress-free as possible, keeping you updated at each stage.
We pride ourselves on offering a personal service to all our clients. We are contactable by phone and respond to emails within 24 hours. Our team is dedicated to providing friendly, proactive service you can rely on. We also offer a fixed fee service and flexible appointments at our Nuneaton office, and we can visit you at home if you are unable to travel.
Our specialist Residential Conveyancing Solicitors possess the experience and resources to ensure every detail of your transfer of equity is addressed. We hold a Law Society Conveyancing Quality Accreditation, recognising our capability to provide quality conveyancing advice, follow a regulated process to manage risk, and meet Law Society standards in conveyancing services.
Common Questions About Transfers of Equity
What is a transfer of equity?
A transfer of equity involves changing the ownership structure of a property, such as removing or adding someone’s name on the property title. This might be necessary after a divorce, remarriage, or moving in with a partner.
Why do I need a Solicitor for transferring equity in my property?
You will need a Conveyancing Solicitor to guide you through the equity transfer process, especially if there is a mortgage on the property. If one owner is being removed from the title, they must also be released from any mortgage obligations. This can be done by:
- Paying off the transferor’s share of the loan
- Remortgaging the property to secure the funds needed for one party to buy the other out
- Transferring the mortgage as part of a buy-out
Our Transfer of Equity Solicitors will examine your situation and advise on the best option for you.
Can I use a transfer of equity to gift my property to my children?
Yes, but be aware of inheritance and capital gains tax issues. As a full-service law firm, we can collaborate with our Private Client department to find the best solution for transferring your property to your children.
Will there be a stamp duty charge?
Stamp duty may apply if you are transferring equity in a property into joint names, such as upon getting married. Although no money changes hands, the new owner assumes responsibility for a portion of the mortgage, which could result in a stamp duty charge. We will provide all necessary advice on stamp duty fees and ensure any tax owed is paid promptly and in full.
Why Choose Us?
Life events such as marriage, divorce, or gifting property to children can often be unexpected. You can trust our Solicitors to handle the transfer of equity process and undertake all the necessary steps.
Cocks Lloyd Solicitors provides exceptional Transfer Of Equity and Residential Conveyancing services to clients. People choose and recommend us not just in Nuneaton, Tamworth, Atherstone, Hinckley and Leicester, but across Warwickshire, Staffordshire, Leicestershire and the West Midlands, and the whole of the UK, because we get results.
To receive expert advice and representation regarding Transfer Of Equity and Residential Conveyancing, please contact us using the form below, call us on (0247) 6641642, email via the Request a Callback form on this contact page.