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Remortgages and Transfer of Equity

A re-mortgage is when you change lenders without moving house. Often people do this when a particular mortgage deal comes to an end, for example when a fixed rate comes to an end or when someone wishes to increase their borrowing and a better mortgage deal is available elsewhere.

Alternatively, people may change lenders as part of another transaction, for example in a divorce when one party buys out the other or if there is a transfer of ownership between family members, perhaps where a name is added to the deeds.

We are highly experienced in dealing with re-mortgages and we work closely with banks and building societies and ensure that your re-mortgage is completed as quickly and smoothly as possible and to fit in with any other aspects such as a divorce.

A transfer of equity means a change in the legal ownership of a property without necessarily the sale of the property itself. The equity refers to the value of the property after repayment of any loan.

Transfers of Equity often take place where two people decide to live together (cohabit) and live in a home already belonging to one of the couple. Within marriage, a transfer of equity would be necessary to put the new husband or wife's name on the deeds. If a relationship or marriage breaks down and two home owners separate or divorce, a transfer of equity would be necessary to transfer the home from joint names to a single name. Sometimes transfers of equity are for other reasons, such as tax planning or making a new tax beneficial Will.

We deal with many transfers of equity and we recognise that these transfers often take place at very difficult times in people's lives. We therefore work in co-operation with our family department and any other professional advisors, such as mortgage brokers, to ensure that the transaction is handled as smoothly and as straightforwardly as possible.

 

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Coronavirus:  We are pleased to announce we are Open for Business

Even during Leicester’s most recent, extended lockdown, you can be assured that it is ‘Business as Usual’ at Lawson-West and we're here to help you with your legal needs. 

We are driven by our commitment to help others. We are here. For you.

At this time, please contact us by telephone, website enquiry or email.
We’re here to help:

Leicester:
4 Dominus Way, Meridian Business Park, LE19 1RP           Tel: 0116 2121000

Wigston:
44 Long Street, Wigston, LE18 2AH                                              Tel: 0116 2121080

Market Harborough
Millers House, Roman Way,
Market Harborough, LE16 7PQ                                                        Tel: 01858 445480

Website:     www.lawson-west.co.uk

Email:           mail@lawson-west.co.uk

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