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Are you in need of a Transfer of Equity with a Adam & Company International mortgage? Failing to check that a lawyer is on the Adam & Company International list of approved solicitors can put your transfer at risk of delay or failure. Only LenderPanel.com provides a subset of authorised conveyancers for over 130 lenders.

Common questions relating to Adam & Company International transfer of equity

  • Three years ago I bought a flat without my partner's name on the title. My lawyer said it is because she is not in the mortgage with Adam & Company International. I'm wondering is there any way that I can put her name on the deeds?
  • Me and my partner co-own a property in Dunnington . Mortgage is with Adam & Company International. I want to transfer full ownership to him with no payment of money but without using a conveyancing solicitor. Is this likely to be straightforward?
  • I am hoping to refinance my flat in Heathfield changing from Leeds Building Society to Adam & Company International. The flat is jointly owned but propose for it to be in my name only when I remortgage. My wife has agreed to this and is happy to sign a form but neither of us want to get a second conveyancing solicitor involved.
  • How and when do I cover the costs of the Stamp Duty Land Tax due for the transfer of equity in my property in my sole name which is happening at the same time as a switching mortgage with Adam & Company International?
  • I am filling out a Adam & Company International transfer of equity application and have arrived at the part regarding debts etc. There are some debts that I have been discharging for a number of years, I understand that they no longer remain my credit records. Am I obliged to disclose these?
  • Adam & Company International have just agreed I can take over the home loan on the house. I previously applied for a transfer of equity but is this a transfer of ownership at HMLR in addition?
  • Is there such a thing a transfer of equity stamp duty calculator?

Information that may be required from your lawyer may ask about your Adam & Company International Transfer of Equity

Please give the details of anyone to be added to the property title?

Please clarify where you are providing any payment for the Transfer of Equity and to whom and notify us any such sums?

Please give the name(s) and addresse(s) of anyone to be extracted from the property title?

Can you give the details of anyone who jointly owns the premises with you?

Please confirm whether this Transfer of Equity is part of any Matrimonial Proceedings? If so, please provide the name, address, telephone number and reference of the Matrimonial Solicitor instructed to act, along with a copy of the sealed Consent or Court Order?

Please confirm whether you are receiving any payment as part of the Transfer or Equity and from whom and provide details of the amount?

General Advice to read in further to the above Adam & Company International transfer of equity Questions and Answers :

Tax and Legal

There may be various tax and legal implications when transferring equity for your property. You should always seek the advice of a solicitor on the Adam & Company International conveyancing panel and accountant before transferring equity.

Transfer of Equity Conveyancing for Leasehold premises

Should the tenure of your property be leasehold, the lease may require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of the lease. This could trigger the freeholder taking enforcement action against you.

Indemnity Insurance

If the transfer of equity is made pursuant to an Order of the Court, then Insolvency Indemnity Insurance is not required. In other cases, where a property is being transferred at less than market value between joint owners, an Insolvency Act Indemnity Insurance policy may be required. This is something that that your conveyancer will check with Adam & Company International This is because, if the outgoing party is made bankrupt in the future, their Trustee in Bankruptcy could argue that they had transferred the property in order to avoid their creditors and apply to the Court to have the transaction set aside. If this happens, it could affect your lender or a future buyer from you as they would lose the property and the lender may not get back what they have loaned to you. The Insolvency Act Indemnity Insurance policy only protects lenders such as Adam & Company International or future buyers from you. If there is no mortgage and the outgoing owner is made bankrupt, there is a risk to you that you could lose your home if the transfer is set aside. The cost of the Insolvency Act Indemnity Insurance policy is dependent on the valuation of the property at the conclusion of the transfer of equity conveyancing.
If you do not keep up the payments on your mortgage with Adam & Company International your property may be repossessed.

Preparing the Transfer of Equity with a Adam & Company International Mortgage

When it comes to preparing the the Land Registry documents your conveyancing solicitor should in the ‘consideration’ panel choose the first option, if consideration is given; otherwise ignore the consideration panel altogether.

If Adam & Company International is joining in the transfer to release someone from liability, put the release in the ‘additional provisions’ panel if someone is entering into a covenant relating to the charge, place it in the ‘additional provisions’ panel stamp duty land tax is not payable when there is no chargeable consideration for the transfer (Schedule 3, paragraph 1 of the Finance Act 2003). In the case of a transfer subject to a charge (even if the transfer is by way of gift) or if a property has been transferred for no value and there is an associated discharge, HMRC would view this as an assumption of an existing debt by the purchaser (Schedule 4, paragraph 8 of the Finance Act 2003) and stamp duty land tax may be payable if you wish you may state in the ‘additional provisions’ panel that ‘This transfer is made subject to a charge dated… in favour of…’

On form AP1, your lawyer should describe the transfer as ‘transfer of equity’ to assist Land Registry staff.

Content on this webpage is for general information and only applies to England and Wales. It should not be regarded as advice for members of the public who should contact their lawyer,mortgage broker, insurer and accountant for specific advice relating to transfer of equity. Whilst we endeavour to keep the information up to date and correct we do not make any representation or warranties of any kind about its completeness, accuracy, reliability or suitability. Any reliance you place on the information is strictly at your own risk. Lexsure will not be liable for any direct or indirect loss or damage arising out of or in connection with the use of this information.


Frequently asked questions relating to Adam & Company International transfer of equity