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Find a Law Firm for your Transfer of Equity approved by
DB UK Bank

Examples of recent questions relating to DB UK Bank transfer of equity

  • I am considering mortgaging my house in Crabtree does my lawyer have to be on the DB UK Bank Conveyancing panel. The conveyancing also involves a transfer of equity.
  • I already have a mortgage with DB UK Bank and am maintaining my current mortgaging but applying to have have the equity transferred to my sole name so my former partner will be removed from the title. How long does the whole transfer of equity process take?
  • Is it sensible to stop the direct debit for my mortgage with DB UK Bank as soon as a date for my remortgage and transfer of equity has been set?
  • I am answering a DB UK Bank transfer of equity form and have come to the section that asks about debts etc. There are some debts that I have been clearing since 2008, I understand that they no longer remain my credit rating. Am I obliged to set these out?
  • DB UK Bank have just agreed I can take over the home loan on my home. I previously applied for a transfer of equity but is this a transfer of ownership at the Land Registry on top?
  • How much the typical solicitors fees are for a transfer of equity? I'm in the process of remortgaging - moving over to DB UK Bank - and have been quoted Three Hundred pounds including VAT by DB UK Bank's appointed lawyer, Is this a reasonable price?
  • After 5 years apart I have decided to relinquish up my share of our apartment to my husband who is re-mortgaging with DB UK Bank. Can a transfer of equity be completed in 28 days?

Sample of questions in a lawyer questionnaire concerning a DB UK Bank 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

Who will be responsible for the costs of the Transfer of Equity?

Please give the name(s) and addresse(s) of those who jointly own the premises with you?

Will there be any payment between the parties for the Transfer of Equity? If so, please state the amount and who is to receive what sums

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

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

Information to consider in supporting the above DB UK Bank 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 DB UK Bank conveyancing panel and accountant before transferring equity.

Transfer of Equity Conveyancing for Leasehold properties

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 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 DB UK Bank 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 DB UK Bank 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 time of completion of the transfer of equity conveyancing.
If you do not keep up the payments on your mortgage with DB UK Bank your property may be repossessed.

Preparing the Transfer of Equity with a DB UK Bank 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 DB UK Bank 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 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 DB UK Bank transfer of equity