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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.

Sample questions relating to Adam & Company International transfer of equity

  • I am answering a Adam & Company International transfer of equity application and have come to the questions regarding defaults etc. There are some debts that I have been reducing for a number of years, I understand that they no longer remain my credit records. Must I set these out?
  • The mortgage broker has recommended their conveyancing solicitor for my Transfer of Equity plus remortgage with Adam & Company International - Is it not simpler advisable to just use them?
  • When it comes to transfer of equity conveyancing involving a remortgage with Adam & Company International should I be paying value added tax on the following: (1) Land Registry fee on the transfer of equity (2) Pre - completion search fee (3) SDLT E submission on the transfer (4) Bank TT fee
  • What are the average conveyancing fees are for a transfer of equity? I need to transfer equity and refinance - moving over to Adam & Company International - and have been quoted £250 plus VAT by Adam & Company International's approved conveyancer, Have I been over quoted?
  • Online reading suggests that solicitors are more expensive than conveyancers for transfer of equity conveyancing. Am I better of using a conveyancer or a solicitor where I need to be transferring equity and at the same time refinancing with Adam & Company International
  • I am planning on removing a name from a joint mortgage and the Adam & Company International need me to use a conveyancing solicitor to carry out the paperwork. Can you recommend a reasonably priced Winchelsea conveyancer to deal with the transfer of equity? They need to be on the Adam & Company International conveyancing panel.
  • My Adam & Company International mortgage we jointly entered into with ex, who is agreeable to come off the deeds and let me have the property. Adam & Company International will permit the transfer of equity to my individual name. Will Adam & Company International get in touch with my boss to confirm my salary?

Examples of questions in a lawyer form concerning a Adam & Company International Transfer of Equity

Please state the names and ages of anyone over the age of 17, other than the owners, who will occupy the property with you

If you are adding a person on to the property how would you like to hold the property? Please provide your instructions by completing and returning a“Joint Ownership Declaration” Questionnaire.

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?

Would you like us to draft you Declaration of Trust. If so are you willing to incur the further fee (beyond the Transfer of Equity fee)?

Has consent been obtained from Adam & Company International to the proposed transfer of equity?

Can you provide the details of anyone who jointly owns the property with you?

Important warnings to consider in further to the above Adam & Company International transfer of equity Advice :

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, provisions in the lease may have a requirement for notices to be served and that you have a license to do so from the freeholder. If such restrictions are not strictly observed you may be in breach of the lease. This could potentially result in the freeholder taking enforcement action against you.

Indemnity Insurance

If the transfer of equity is made as a result of 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 varies based on the market value of the property at the time of completion of the transfer of equity transaction.
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 conveyancing solicitor should describe the transfer as ‘transfer of equity’ to assist Land Registry staff.

Information contained within 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