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Capital Home Loans

Examples of recent questions relating to Capital Home Loans transfer of equity

  • My divorce has gone through as is the consent order. Now I have to deal with the transfer of equity on title deeds and the Capital Home Loans mortgage. I have contacted Capital Home Loans for the transfer of equity application. What happens next?
  • What are my options where I am not happy with the conveyancing solicitor who carried out our transfer of equity conveyancing?
  • Capital Home Loans yesterday agreed I can take over the mortgage on my home. I had applied for a transfer of equity but is this a transfer of ownership at the Land Registry on top?
  • At what stage do I incur stamp duty payable for the transfer of equity in my house in my sole name which is taking place at the same time as a refinancing with Capital Home Loans?
  • Is it possible to apply to request a further advance from Capital Home Loans as part of a Transfer of Equity?
  • My wife and myself jointly own a buy to let. I am a higher rate tax payer. Ideally I wish to complete a transfer of equity into her name to reduce our tax on rental income. Assuming Capital Home Loans are happy with this the legal fees are not high. However what happens when we sell? As I would no longer be on the title documents would I lose my CGT relief.
  • I got my Decree Absolute in 2010. For some reason I never dealt with the transfer ownership from the current 'joint' status to my sole name. I now plan to deal with it and there are no objections. Transfer-of-equity is presumably the way forward. Capital Home Loans is willing to transfer the property and loan in my name (affordability checks done). Does my ex need a solicitor?

Examples of information requested in a conveyancing solicitor form concerning a Capital Home Loans Transfer of Equity

Has one of the registered owners died? If so please provide us with a copy of all the relevant documents e.g. the will, death certificate etc..

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

Have you approached Capital Home Loans to seek consent to the Transfer of Equity

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 provide the details of anyone to be removed from the property title?

Please provide a copy of your National Insurance Number?

Important warnings to consider in supporting the above Capital Home Loans 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 Capital Home Loans conveyancing panel and accountant before transferring equity.

Transfer of Equity Conveyancing for Leasehold premises

If your property is leasehold, the lease may have a requirement for notices to be served and that you have a license to do so from the landlord. If such restrictions are not strictly observed you may be in breach of your covenants under the lease. This could trigger 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 Capital Home Loans 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 Capital Home Loans 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 market value of the property at the time of completion of the transfer of equity conveyancing.
If you do not keep up the payments on your mortgage with Capital Home Loans your property may be repossessed.

Preparing the Transfer of Equity with a Capital Home Loans Mortgage

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

If Capital Home Loans 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.

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 Capital Home Loans transfer of equity