LenderPanel.com

Find a Law Firm for your Transfer of Equity approved by
Royal Bank of Scotland -Natwest One

Examples of recent questions relating to Royal Bank of Scotland -Natwest One transfer of equity

  • Our financial adviser has recommended their lawyer for my Transfer of Equity plus remortgage with Royal Bank of Scotland -Natwest One - Is it not simpler easier to just instruct them?
  • My ex are seeking to get a conveyancer lined up for a remortgage with Royal Bank of Scotland -Natwest One. Transfer of Equity conveyancing is also neededI have used the different comparison based tools and the results are from all over England and Wales. Is it important to appoint a conveyancing solicitor local to us?
  • Me and my former husband and I are in the market for a quality conveyancing lawyer to assist in a transfer of equity and remortgage with Royal Bank of Scotland -Natwest One. I am aware of the possibility of getting ripped off but with so many conveyancing solicitors who do transfer of equity conveyancing out there...who's the best?
  • What do I do if I am dissatisfied with the conveyancer who conducted our transfer of equity conveyancing?
  • Online reading 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 need to be transferring equity and at the same time switching mortgage with Royal Bank of Scotland -Natwest One
  • My decree absolute has gone through as is the consent order. Now I have to address the transfer of equity at the land registry and the Royal Bank of Scotland -Natwest One home loan. I have called Royal Bank of Scotland -Natwest One for the transfer of equity application. What do I do now?
  • Is it possible to apply to borrow more money from Royal Bank of Scotland -Natwest One as part of a Transfer of Equity?

Questions that your lawyer is likely to ask regarding your Royal Bank of Scotland -Natwest One Transfer of Equity

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

Please confirm whether this Transfer of Equity is part of any Matrimonial Proceedings? If so, please provide the name, address, telephone number and reference of the Matrimonial Solicitor instructed to act, along with a copy of the sealed Consent or Court Order?

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

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

Please confirm whether you are receiving any payment as part of the Transfer or Equity and from whom and give details of the amount?

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

Information to consider in further to the above Royal Bank of Scotland -Natwest One transfer of equity information :

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 Royal Bank of Scotland -Natwest One conveyancing panel and accountant before transferring equity.

Transfer of Equity Conveyancing for Leasehold titles

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 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 Royal Bank of Scotland -Natwest One 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 Royal Bank of Scotland -Natwest One 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 finalisation of the transfer of equity conveyancing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Royal Bank of Scotland -Natwest One.

Preparing the Transfer of Equity with a Royal Bank of Scotland -Natwest One 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 Royal Bank of Scotland -Natwest One 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 Royal Bank of Scotland -Natwest One transfer of equity