A transfer of equity is when a person(s) is/are added or removed to the title deeds of a property. An example would be a change in marital status or even for tax planning purposes.
To transfer equity you will need to own your own home. There does not have to be a mortgage on a property or an exchange of money to take place for a transfer of equity. If the property does currently have a mortgage it will be necessary for your lender will be contacted for permission.
Our conveyancers can provide full advice on the legal implications and effects of transfer of equity, to help make it a smooth and straightforward procedure.