TRANSFER OF EQUITY
Jackie Scott Ltd will be delighted to assist you with your transfer of equity.
A Transfer of Equity is when someone is added or removed from the title deeds, such as a sole owner adding their husband or wife, a parent adding their son or daughter or a separating couple. If there is a mortgage on the property you will also need to apply for the mortgage lender’s consent.
Do bear in mind that if there is any money changing hands or other consideration given for the transfer of equity and it is not pursuant to a Court Order, there may be a Stamp Duty Land Tax liability to be paid.
Also, if the property is leasehold then it is likely that the freeholder will charge their own administration fees. We will make you aware of these as soon as we are informed by the freeholder, but you might be able to find out yourself by contacting the management company/landlord directly.
For a Transfer of Equity between two parties with no mortgage, our fee is £375 plus VAT. If there is a mortgage involved or additional parties to consider, our fee will be £500 plus VAT.
Please contact us today on 01243 823090 for a no obligation, fixed fee quote.