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Are you in need of a Transfer of Equity with a Britannia mortgage? Failing to check that a lawyer is on the Britannia 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 Britannia transfer of equity

  • Have recently separated from my ex of 18 years. I'm now back with my mum and dad and she wants to stay in the apartment and buy me out. What portion am I entitled to. Is it 50% of the equity after redeeming the mortgage with Britannia? I assume proper valuations are required but I would like ensure that I'm getting what I am entitled to
  • I co-own a house in Romsey , with a Britannia mortgage with my ex partner. He and his new partner are going to acquire my share. We had approval from Britannia to replace my name with hers. The transfer of equity needs to be completed by a lawyer for Britannia (apparently). In order to save fees can I do the Land Registry formalities?
  • Our mortgage broker has suggested using their lawyer for my Transfer of Equity plus remortgage with Britannia - Surely it’s better to just use them?
  • What is the process for having someone removed from the deeds to a property where the mortgage is with Britannia
  • My former wife are seeking to get a conveyancing solicitor lined up for a remortgage with Britannia. Transfer of Equity conveyancing is also requiredI have used the different comparison based websites and the results are from all over England and Wales. Is it important to instruct a conveyancer local to us?
  • At what stage do I pay stamp duty payable for the transfer of equity in my home in my name alone which is taking place simultaneously with a switching mortgage via Britannia?
  • Having been 4 years estranged I have made the decision to transfer my interest in our apartment to my husband who is re-mortgaging with Britannia. Could this transfer of equity be done inside one month?

Information that may be required from your conveyancing solicitor is likely to ask about your Britannia Transfer of Equity

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

Please clarify if you are providing any payment for the Transfer of Equity and to whom and disclose any such sums?

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

Would you like us to draw up a Declaration of Trust. If so are you willing to incur the additional fee (beyond the Transfer of Equity fee)?

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

Information to consider in supporting the above Britannia transfer of equity information :

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 Britannia conveyancing panel and accountant before transferring equity.

Transfer of Equity Conveyancing for Leasehold properties

If your property is leasehold, provisions in the lease may require that you obtain the consent of the landlord. If such conditions 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 pursuant to 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 lawyer will check with Britannia 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 Britannia 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 valuation of the property at finalisation of the transfer of equity conveyancing.
If you do not keep up the payments on your mortgage with Britannia your property may be repossessed.

Preparing the Transfer of Equity with a Britannia 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 Britannia 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 conveyancer 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 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 Britannia transfer of equity