Transfer of equity and re-mortgaging

No-one knows what life may throw at us, and you may find yourself in a situation where you are looking for an injection of funds.  Transferring equity or re-mortgaging your home is a big step, but one that can help you with any financial needs you have.

We can provide you with timely legal advice in a friendly and helpful manner which is, most importantly, suitable for your own situation.

Transfer of equity

We can help with transferring your interest, or in obtaining someone else’s interest in a property, whether through a Court order or mutual agreement.  People usually seek to transfer equity if they wish to add their children to the property and can do this as a gift when no consideration passes between its parents and children, when they marry or enter a civil partnership and would like to add their new spouse to the mortgage, or if a relationship has ended and one party wishes to “buy out” the other party. 

When leaving the mortgage, you will receive your percentage share of any equity, if there is any.  When looking to buy out the other party, you may need to re-mortgage in order to do so.

If you are looking to transfer equity due to a divorce, we can work closely with our Family team to ensure your whole journey runs smoothly. 

Once the transfer has been completed, the new legal title will show the new division of ownership.  No matter the reason for the transfer, we can discuss your options and advise the best way of transferring depending on your intentions.

Re-mortgaging

Re-mortgaging is often changing mortgage lenders to release some of the equity in your home, or consolidate your debts, but without moving home.  There are other reasons why you may be seeking to re-mortgage; perhaps the value of your property has increased, your current deal is about to end or you are looking for better interest rates.

When re-mortgaging, you may stay on the same mortgage rate but move to a different product, or you may move to a better rate.  We can advise you on the procedures and on any early redemption penalties on leaving your current scheme, taking your personal situation into account throughout, leaving you with the right decision for you.

We are on most mortgage panels and act for a variety of different lenders, so we are well placed to discuss all of the options available to you.  For more information on how we can help you, contact us with any questions or for a quote by email at conveyancingquote@warnergoodman.co.uk or by telephone:

Fareham: 01329 222096
Southampton: 023 8071 7449
Portsmouth:  023 9277 6549
Chandler’s Ford: 023 8071 7467
Email: conveyancingquote@warnergoodman.co.uk

 

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