Transfer of Equity
Your Property Guide

1. Initial Instructions and Advice

Once you contact us, we will:

• Take your instructions and confirm who is being added to or removed from the title.
• Establish whether the property is freehold or leasehold.
• Check whether there is a mortgage secured against the property.
• Confirm whether the transfer is for value or by way of gift.
• Deal with identity and anti-money laundering checks for all parties

If the property is mortgaged, the lender’s consent will usually be required before the transfer can proceed.

2. Mortgage Lender and Third-Party Requirements

If a mortgage is in place:

• We will liaise with your lender to obtain their formal consent to the transfer.
• The lender may require affordability checks or a new mortgage offer.
• Any outgoing owner will normally need to be released from their mortgage obligations.

If the property is leasehold, notice may also need to be served on the landlord or managing agent, and their requirements complied with.

3. Title Checks and Legal Documentation

At this stage we will:

• Review the registered title to the property.
• Prepare the Transfer Deed (TR1).
• Draft or review any Declaration of Trust if ownership shares are changing.

We will explain the legal implications of the transfer to you in clear, non-technical language and answer any questions you may have.

4. Signing and Completion

Once all requirements have been satisfied:

• The Transfer Deed and any mortgage documents will be signed.
• A completion date will be agreed.
• Any monies required (for example, mortgage funds or balancing payments between parties) will be dealt with.

On completion, the ownership of the property will be formally transferred in accordance with your instructions.

5. Post-Completion and Registration

Following completion, we will:

• Submit the application to the Land Registry to update the title.
• Notify the mortgage lender and any relevant third parties.
• Serve any required leasehold notices.

Once registration is complete, we will provide confirmation that the transfer has been finalised.