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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.

Examples of recent questions relating to Investec transfer of equity

  • Do I need legal representation when doing a transfer of equity where the home loan is to remain with Investec?
  • I am trying to find a lawyer to handle my transfer of equity. Investec are dealing with the remortgage. I considered asking my financial adviser. I am lead to believe he may receive a referral fee for suggesting a firm, but also of benefit will be that he knows the lawyer, has dealt with them before. Is my logic misguided?
  • Online research suggests that solicitors are more expensive than conveyancers when it comes to transfer of equity conveyancing. So is it better if I use a conveyancer or a solicitor where I am transferring equity and at the same time refinancing with Investec
  • Is it possible to apply to request a further advance from Investec as part of a Transfer of Equity?
  • I own a apartment in Witham , with a Investec mortgage with my ex partner. He and his fiance are going to buy me out. We had consent from Investec to replace my name with hers. The transfer of equity has to be completed by a conveyancer for Investec (apparently). Can we deal with the Land Registry formalities?
  • I am refinancing my home in Dunnington does my lawyer need to be on the Investec Solicitor panel. The conveyancing also involves a transfer of equity.
  • What are the average solicitors costs are for a transfer of equity? I need to transfer equity and refinance - moving over to Investec - and have been quoted £350 including VAT by Investec's approved conveyancer, Is this is a good price or not?

Sample of information requested in a conveyancer questionnaire concerning a Investec Transfer of Equity

Please provide the name(s) and addresse(s) of anyone who jointly owns the property with you?

Where you are going to hold the property as beneficial Tenants in Common in unequal shares, what is the split to be. For e.g. 50-50, or 60-40?

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

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

Would you like us to prepare Declaration of Trust. If so are you happy to pay for the further fee (beyond the Transfer of Equity fee)?

Please provide a copy of your National Insurance Number?

General Advice to read in in addition to the above Investec transfer of equity Questions and Answers :

Tax and Legal

There are numerous potential 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 titles

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 your covenants under 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 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 market value of the property at finalisation of the transfer of equity conveyancing.
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 conveyancer 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 conveyancing solicitor should describe the transfer as ‘transfer of equity’ to assist Land Registry staff.

Content 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 Investec transfer of equity