Equity Transfer
If you currently own a property with one or more co-owner, and you either wish to buy out that person’s interest, or they want to sell their interest to you, then this is known as a transfer of equity.
In these cases we cannot act for both parties.
Where you have a mortgage on the property normally the party transferring their interest in the property will require releasing from the mortgage conditions and debt. There are three ways of doing this:
- discharging the existing mortgage from monies from your own resources
- obtaining consent from your current lender to transfer the property and making application for a further advance where required for the “buy out”
- by re-mortgaging your property and borrowing sufficient funds to discharge the existing mortgage and any surplus required for the “buy out”.
Obtain an instant quotation
Please telephone your nearest office to obtain a quotation.
For further information
For further information on equity transfer, please click here for our factsheets.
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