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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.

Recently asked questions relating to LendInvest transfer of equity

  • My partner and I co-own a property in Winchelsea . Home loan is with LendInvest. I want to transfer full ownership to him with no payment of money but without using a lawyer. Do you think this should be simple?
  • My LendInvest mortgage we jointly entered into with ex, he is agreeable to be removed and put the house in my name alone. LendInvest will permit the transfer of equity to my individual name. Do LendInvest call my employer to check my salary?
  • Is it possible to apply to borrow more money from LendInvest as part of a Transfer of Equity?
  • I am in the process of mortgaging my apartment in Rye does my lawyer need to be on the LendInvest Conveyancing panel. The conveyancing also involves a transfer of equity.
  • Have recently split up with my wife of 18 years. I'm now back with my mum and dad and she wants to remain in the property and pay me off. What percentage am I entitled to. Is it half of the equity after redeeming the LendInvest home loan? I assume proper valuations are necessary but I would like to be confident that I'm getting what I am entitled to
  • I am filling out a LendInvest transfer of equity form and have arrived at the section regarding debts etc. There are some debts that I have been clearing over a long period, I understand that they have long since disappeared from my credit rating. Do I need to set these out?
  • My former husband are seeking to get a conveyancer in place for a remortgage with LendInvest. Transfer of Equity conveyancing is also requiredI have used the different rating based services and the results are from all over England and Wales. How necessary is it to appoint a lawyer local to us?

Information that may be required from your conveyancer may ask regarding your LendInvest Transfer of Equity

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?

If 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” Form.

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.

If 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?

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

Please provide a copy of your National Insurance Number?

Caveats to be read in supplemental the above LendInvest 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 LendInvest conveyancing panel and accountant before transferring equity.

Transfer of Equity Conveyancing for Leasehold premises

If your property is leasehold, 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 your covenants under 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 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 varies based on the valuation of the property at the conclusion 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 conveyancer 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 contained within 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 LendInvest transfer of equity