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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.

Questions and answers: Investec transfer of equity

  • My former husband are planning to get a lawyer in place for a refinance with Investec. Transfer of Equity conveyancing is also neededI have used the different rating based services and the results are from all over the country. Do we need to appoint a conveyancer local to us?
  • Can I transfer the equity held in my property with my Investec mortgage?
  • Will I incur any charges for a Transfer of Equity where the current mortgage is with Investec?
  • Is it sensible to cancel my mortgage payments with Investec once a date for my remortgage and transfer of equity has been agreed?
  • I plan to refinance my home in Dunnington moving from Coventry BS to Investec. The home is currently in joint names but intend for it to be in my sole name once I remortgage. My wife has verbally consented to this and is happy to transfer equity but neither of us want to get a second conveyancer involved.
  • My brother and I got a joint mortgage with Investec on a flat in 2013. I am now looking to get a flat on my own and my friend would like to buy me out. Assuming we can agree an amount where do we go? Is there likely to be any problem with Investec with him being solely liable for the total mortgage as opposed to only half of it?
  • Me and my partner co-own a flat in Blaenavon . Mortgage is with Investec. I wish to transfer full ownership to him with no exchange of money but without using a conveyancing solicitor. Do you think this should be simple?

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

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

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 confirm the person to be removed from the title deeds will not reside at the property after the transfer of equity has been formalised?

Is there to be any consideration monies passing between the parties for the Transfer of Equity? If so, please state the amount and who is to receive what amounts

Please let us know of you wish us to draw up a Declaration of Trust. If so are you happy to pay for the further fee (beyond the Transfer of Equity fee)?

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

Important warnings to consider in in addition to the above Investec transfer of equity Info :

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 premises

Should the tenure of your property be leasehold, the lease may have a requirement for notices to be served and that you obtain the consent of the landlord. If such terms are not adhered to you may be in violation of the lease. This could potentially result in 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 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 conveyancing solicitor 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 is dependent 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 conveyancer 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