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

  • Two years ago I purchased a property without my partner's name on the title documents. My conveyancer advised it is because she is not in the loan offer with Investec. I'm wondering is there any way that I can put her name on the title?
  • My Investec home loan is in joint names with ex, who has agreed to be removed and let me have the property. Investec will permit the transfer of equity to me solely. Do Investec contact my company to check my salary?
  • My former husband are planning to get a conveyancer in place for a new mortgage with Investec. Transfer of Equity conveyancing is also requiredI have used the different rating based websites and the results are from all over England and Wales. Do we need to instruct a conveyancing solicitor local to us?
  • Can you tell me how to have someone removed from the deeds to a property where the mortgage is with Investec
  • How much the typical legal fees are for a transfer of equity? I'm in the process of remortgaging - new loan with Investec - and have been quoted Three Hundred pounds excluding VAT by Investec's approved lawyer, Is this is a good price or not?
  • My decree absolute is through as is the consent order. Now I need to deal with the transfer of equity at the land registry and the Investec home loan. I have asked Investec for the transfer of equity forms. What are my next steps?
  • I am under the impression we would need at least AP1 and TR1. Is this true?

Sample of questions in a conveyancer form relating to Investec Transfer of Equity

We need you to supply the National Insurance Number(s) of all the new owners (required for completion of the Stamp Duty Land Tax Form)

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

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

Has consent been obtained from Investec to the proposed transfer of equity?

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

Please give the details of anyone to be extracted from the property title?

Information to consider in supplemental the above Investec 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 Investec conveyancing panel and accountant before transferring equity.

Transfer of Equity Conveyancing for Leasehold premises

Should the tenure of your property be 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 terms are not adhered to you may be in violation of 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 lawyer will check with Investec 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 Investec 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 the time of completion of the transfer of equity transaction.
Your property may be repossessed if you do not keep up repayments on your mortgage with Investec.

Preparing the Transfer of Equity with a Investec Mortgage

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

If Investec 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 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 Investec transfer of equity