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

  • My ex-fiance and I are searching for a dependable conveyancing solicitor to assist in a transfer of equity and refinance with Pepper Homeloans. I am aware of the chance of getting ripped off and there are various conveyancing practices who do transfer of equity conveyancing to choose from...who do I opt for?
  • Pepper Homeloans yesterday agreed I can take over the home loan on my home. I previously applied for a transfer of equity but is this a transfer of ownership of the house as well?
  • Is there such a thing a transfer of equity stamp duty calculator?
  • Me and my partner jointly own a house in Winchelsea . Home loan is with Pepper Homeloans. I wish to transfer full ownership to him with no exchange of money but without using a conveyancing solicitor. Is this likely to be easy to so?
  • I am trying to find a lawyer to deal with my transfer of equity. Pepper Homeloans have been approached for a refinancing. I considered asking my financial adviser. I understand he may receive a kickback for suggesting a firm, but also of benefit will be that he knows the conveyancer, has a working relationship with them. Is my logic misguided?
  • I am under the impression we would need at least AP1 and TR1. Is this true?
  • Is it sensible to stop my mortgage payments with Pepper Homeloans as soon as a date for my remortgage and transfer of equity has been set?

Information that may be required from your lawyer is likely to ask in relation to your Pepper Homeloans Transfer of Equity

Please state the names and ages of anyone over the age of 17, other than the owners, who will occupy the property with you

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 a copy of your National Insurance Number?

If you are adding someone on to the property how would you like to hold the property? Please provide your instructions by completing and returning a“Joint Ownership Declaration” Form.

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

Can you provide the details of anyone who jointly owns the property with you?

General Advice to read in conjunction with the above Pepper Homeloans transfer of equity Questions and Answers :

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 Pepper Homeloans 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 require that you obtain the consent of the landlord. If such terms are not adhered to you may be in violation 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 as a result of 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 Pepper Homeloans 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 Pepper Homeloans 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 the conclusion of the transfer of equity transaction.
Your property may be repossessed if you do not keep up repayments on your mortgage with Pepper Homeloans.

Preparing the Transfer of Equity with a Pepper Homeloans 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 Pepper Homeloans 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 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 Pepper Homeloans transfer of equity