Questions about transferring equity

Do I need a conveyancing solicitor when transferring equity in a property?

Yes. If you are transferring equity on a mortgaged home you will need a solicitor to carry out all the legal work needed to complete the transfer.

If there is no mortgage then you do not need to use a solicitor. However, the process is complex and there can be tax implications if you make an error. A conveyancing solicitor’s transfer of equity fees are inexpensive, so most people prefer to use a solicitor.

What does a conveyancing solicitor do when transferring equity in a property?

A transfer of equity occurs when an existing owner of a property either adds or removes one or more people to the title (ownership) of the property. Transferring equity can occur for a number of reasons, such as marriage, separation or gifting property to a child.

A solicitor will work closely with all parties involved, including the mortgage lender (if there is an existing mortgage) to ensure that:

  • The title deeds are reviewed
  • Transfer deeds and other legal documents are completed
  • The new interests are registered at HM Land Registry

Read more: The transfer of equity process explained.

How long does the transfer of equity process take?

The conveyancing for a transfer of equity usually takes around 4 weeks. If there is an existing mortgage or if the property is being simultaneously remortgaged, the process can take longer.

If the property is leasehold it can take longer if, for instance, the freeholder creates delays. If the property is leasehold it makes sense to notify the freeholder of the intention to transfer equity as early in the process as possible.

Can Quittance's solicitor also act for my mortgage lender?

Yes. If the property is mortgaged, the solicitor will also need to act for the mortgage lender. To be able to do this, the solicitor will need to be on the lender's approved panel of conveyancing solicitors.

You will be assigned a conveyancing solicitor who can act for your existing mortgage lender.

What if I am also remortgaging?

You may also be remortgaging the property at the same time as transferring equity. Quittance can combine the remortgage and transfer of equity work and the panel of solicitors can act for all UK lenders.

How much does transfer of equity conveyancing cost?

There is usually less legal work involved when transferring equity in a property than there is with an outright sale or purchase. Additionally, there are fewer third-party costs (disbursements). For example, property searches would not be required.

Who pays the legal fees on a transfer of equity?

The answer to this really depends on the circumstances. With a marriage, separation or divorce, both parties are effectively clients as mutual consent must be obtained. The legal fees would typically be paid by both parties but there is no reason why they cannot be paid by an individual party. If the property is being gifted to a child, for example, the donor would usually pay the fees.

What is included in a Quittance transfer of equity conveyancing quote?

With Quittance, the price we quote is the price you pay for your transfer of equity. All of the legal fees are included in our 'All-inclusive' fee guarantee. Our fixed fee service means there are no hidden additional extras.

What do other solicitors charge?

The following is a table of typical fees charged by solicitors when transferring equity in a property:

Fee/Disbursement Typical solicitor cost
Conveyancing fee £250 - £900
TT Fee £15 - £35
Priority search £3
Bankruptcy search £2 - £12
Official copies £3 - £18
ID verification £8 - £20
Searches or search indemnity fee £30 - £350
HM Land Registry fee £20 - £135

Your next step

Whether you are gifting a property to a child, getting married or separating, or transferring equity for any other reason, we can help you find an expert conveyancing solicitor. Even if you are just looking for advice, we can help.

If you are also planning to remortgage as part of the transfer process, the remortgage legal work can be completed at the same time as your transfer of equity.

  • Transfer of equity experts
  • No Completion, No Fee Guarantee
  • CQS-accredited panel solicitors
  • Fixed fees - All-inclusive Quote
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Helen Goddard, Legal researcher

Helen Goddard, Legal researcher