Transfer of Equity

A transfer of equity is the process by which a person is added or removed from the title of a property (i.e. they become or stop being a legal owner of the property).

What can I expect to pay?

On average, we would expect legal costs for a transfer of equity to be:-

Freehold property – without a mortgage: £700 plus VAT
Freehold property – with a mortgage: £1,000 plus VAT
Leasehold property – without a mortgage: £1,000 plus VAT
Leasehold property – with a mortgage: £1,200 plus VAT

VAT is charged at 20%.

Are there any hidden costs or disbursements?

We will always be upfront with our fees at the start of a transaction. Disbursements are not always known at the outset. For example, a lender may have additional fees they charge as part of the transaction. However, common disbursements you can expect to pay include:-

Disbursement Average Cost
Copies of documents from HM Land Registry (e.g. title registers, title plans etc) £3.00 per document
ID checks (required under the Anti Money Laundering Regulations) £25.00 plus VAT per person
Registration fee to HM Land Registry These range from £20 – £1,105 dependent on the value of the property and whether or not the transfer is for consideration.

You can find more information about the Land Registry fees and how they are charged here.

We will, of course, advise you at the start of your matter how much you can expect to pay.

Stamp Duty Land Tax (SDLT) and Welsh Land Transaction Tax (WLTT) If SDLT/WLLT is payable, this is charged dependent on the value of the share of the property being transferred. It is impossible to estimate SDLT/WLTT without that information but more information about SDLT/WLTT and how it is calculated can be found on the HMRC website here or on the Welsh Government website here.

We will, of course, advise you at the start of your matter how much you can expect to pay.

What work is included in those costs?

Every matter is of course different, but in general you can expect our costs to include:-

  • Obtaining and reviewing copies of the title deeds.
  • Advising you on the legal implication of the transfer of equity.
  • Preparing the transfer deed documents and arranging for their execution.
  • Liaising with any mortgage lenders regarding their requirements for the transfer.
  • Arranging for the payment of any Stamp Duty Land Tax that may be payable
  • Registering the transfer at the Land Registry.

Is there anything not included?

Our costs include all work that is usually required to complete the transfer of equity. However, you may require additional legal services as a result (such as updating your Will) and these would be charged separately. You can find more information about the other legal services we offer here.

How long will the transaction take?

Transfer of equity are generally quite straightforward, though if there is a mortgage involved it does increase the complexity of the transaction. Generally, we would expect a transfer of equity to take 3 – 6 weeks to complete for a simple transaction.

To speak to one of our experts please call us on 01749 836100 or Ask us a question



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