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Adam & Company

Examples of recent questions relating to Adam & Company transfer of equity

  • My Adam & Company mortgage is in joint names with ex, he is agreeable to be removed and put the house in my name alone. Adam & Company have consented to the transfer of equity to me solely. Will Adam & Company get in touch with my employer to confirm my salary?
  • My former wife are planning to get a conveyancing solicitor in place for a new mortgage with Adam & Company. Transfer of Equity conveyancing is also neededI have used the different comparison based websites and the results are from all over England and Wales. How necessary is it to appoint a conveyancer local to us?
  • I own a flat in Littleborough , with a Adam & Company loan with my ex partner. Him and his new partner are going to buy me out. We had approval from Adam & Company to substitute my name with hers. The transfer of equity needs to be completed by a conveyancer for Adam & Company (apparently). In order to save fees can I do the Land Registry formalities?
  • Am I best advised cancel my mortgage payments with Adam & Company once a date for my remortgage and transfer of equity has been agreed?
  • Have recently separated from my wife of 18 years. I'm now back with my mum and dad and she wishes to stay in the property and buy me out. What percentage do I get. Is it half of the equity after paying off the mortgage with Adam & Company? I assume proper valuations are required but I would like ensure that I'm getting the best deal
  • I recently purchased a flat without my wife's name on the deeds. My conveyancing solicitor said it is because she was not in the mortgage with Adam & Company. I'm wondering is there any way that I can add her name on the title?
  • I intend to remortgage my flat in Crabtree switching from Halifax to Adam & Company. The apartment is jointly owned but wish for it to be in my name only as and when I remortgage. My husband is OK with this and is happy to transfer equity but neither of us want to incur lawyer charges.

Information that may be required from your conveyancer may ask regarding your Adam & Company Transfer of Equity

Please list all persons who occupy the property, their respective ages and relationships to you.

Please provide the details of anyone to be extracted from the title deeds?

Please clarify where you are providing any payment for the Transfer of Equity and to whom and specify the amount?

Please provide a copy of your National Insurance Number?

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

Have you approached Adam & Company to seek consent to the Transfer of Equity

Important warnings to consider in supplemental the above Adam & Company transfer of equity Info :

Tax and Legal

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

Transfer of Equity Conveyancing for Leasehold premises

If your property is leasehold, provisions in the lease may have a requirement for notices to be served and that you obtain the consent of the freeholder. If such conditions are not complied with 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 situations, 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 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 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 finalisation of the transfer of equity transaction.
If you do not keep up the payments on your mortgage with Adam & Company your property may be repossessed.

Preparing the Transfer of Equity with a Adam & Company Mortgage

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

If Adam & Company 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 provided on this webpage is for general information and only applies to England and Wales. It does not constitute 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 transfer of equity