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Are you in need of a Transfer of Equity with a Handelsbanken mortgage? Failing to check that a lawyer is on the Handelsbanken 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.

Frequently asked questions relating to Handelsbanken transfer of equity

  • I understand we would need at least AP1 and TR1. Is this true?
  • Is it possible to transfer the equity held in my property with my Handelsbanken home loan?
  • I bought a property with a friend in 2009 Since then, we have both got married. We are now seeking to do a transfer of equity so my name comes off the Handelsbanken mortgage. There is a meaningful difference between the value the Handelsbanken hold and what the property would sell for currently. Can you offer any advice?
  • I co-own a house in Romsey , with a Handelsbanken mortgage with my former husband. Him and his new partner are going to buy me out. We had consent from Handelsbanken to substitute my name with hers. The transfer of equity needs to be completed by a lawyer for Handelsbanken (apparently). In order to save fees can I do the Land Registry change?
  • At what point do I incur the Stamp Duty Land Tax payable for the transfer of equity in my house in my sole name which is happening at the same time as a refinancing via Handelsbanken?
  • In 2012 I purchased a flat without my wife's name on the title documents. My lawyer said it is due to the fact that she is not in the loan offer with Handelsbanken. Is it possible for me to add her name on the title?
  • My brother and I got a joint mortgage with Handelsbanken on a property about a year ago. I am now thinking of purchasing a apartment by myself and my friend would like to buy me out. Once we have agreed a price what are the next steps? Would there be any potential concerns with Handelsbanken with him being responsible for the total loan rather than only half of it?

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

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

Is it the case that one of the registered proprietors died? If so please provide us with a copy of the Death Certificate, Probate and a copy of the Will.

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

If are intent on holding the property as beneficial Tenants in Common in unequal shares, what is the split to be. For e.g. 50-50, or 60-40?

Can you give the name(s) and addresse(s) of anyone who jointly owns the premises with you?

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

General Advice to read in conjunction with the above Handelsbanken transfer of equity Info :

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 Handelsbanken 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 have a license to do so from the freeholder. If such terms are not adhered to 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 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 conveyancing solicitor will check with Handelsbanken 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 Handelsbanken 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 finalisation of the transfer of equity transaction.
Your property may be repossessed if you do not keep up repayments on your mortgage with Handelsbanken.

Preparing the Transfer of Equity with a Handelsbanken 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 Handelsbanken 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 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 Handelsbanken transfer of equity