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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: It is ‘Business As Usual’ at Lawson-West

We’ve made plans to continue to deliver the best service during the pandemic and we’re committed to helping clients over the coming weeks and months.

From time to time, we will be posting updates about our business operational response to the implications of the virus on our website and on our social media pages on Facebook, Twitter and LinkedIn.

For now, you can be assured that we are ‘Open for Business’ and here to help you with your legal needs. You can email your regular contact at Lawson-West and we will respond, alternatively, email mail@lawson-west.co.uk or continue to browse our website at www.lawson-west.co.uk for more information about our services and how to contact us.

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

Lawson-West Directors

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