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

  • What are my options where I am not happy with the conveyancing solicitor who handled our transfer of equity conveyancing?
  • LendInvest have just agreed I can take over the home loan on my home. I had applied for a transfer of equity but is this a transfer of ownership at the Land Registry as well?
  • Is it sensible to stop the direct debit for my mortgage with LendInvest as soon as a date for my remortgage and transfer of equity has been agreed?
  • My partner and myself jointly own a BTL. I am a top rate tax payer. Ideally I wish to complete a transfer of equity into her name to reduce our tax on the letting income. If LendInvest are fine with this the legal fees are not high. However what happens when we sell? Would my GGT relief be lost.
  • I currently have a joint LendInvest mortgage with my brother and am investigating the feasibility of him taking on the outstanding mortgage and removing myself from it, so as to enable me to purchase somewhere with my soon-to-be-wife. The remaining mortgage is approx 300k, and the property value is approx 500k. Is this a transfer of equity? Is stamp duty payable?
  • Can I apply to borrow more money from LendInvest as part of a Transfer of Equity?
  • I already have a home loan with LendInvest and am keeping my current mortgaging but applying to have have the equity transferred to my sole name so my former partner will be removed from the deeds. How long does the whole transfer of equity process take?

Information that may be required from your conveyancing solicitor could ask in relation to your LendInvest Transfer of Equity

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

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 details of anyone to be added to the title deeds?

Is the transfer of equity subject to a court order? If yes please supply a copy

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

General Advice to read in supplemental the above LendInvest 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 LendInvest conveyancing panel and accountant before transferring equity.

Transfer of Equity Conveyancing for Leasehold properties

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 conditions are not complied with 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 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 LendInvest 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 LendInvest 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 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 LendInvest.

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