DIY Transfer of Equity Kit

Introduction

Welcome to our site and thank you for your visit. Our kit is free but you should understand the risks and rewards therefore please read the information below before deciding whether to proceed to use our kit.

What is a transfer of equity?

A transfer of equity is a property transfer which involves at least one owner of a property remaining as an owner after completion. This can mean that one or people are added to the title or that one or more people are remomed.

Can I do my own conveyancing for a transfer of equity?

A transfer of equity is a fairly simple transaction and provided it does not involve the taking of a new mortgage or secured loan and there is no existing mortgage or secured loan on the property which will not be removed then it is usually possible to proceed without professional legal advice. The table below sets out some of the more common types of transction and indicates whether this pack is appropriate:

Common Transaction Types	Can our kit be used?
Transfers when people are added to the title (i.e. they become joint owhers) and when no money changes hands which are not subject to a new mortgage or secured loan or to a mortgage or secured loan that will not be repaid	YES
Transfers when people are added to the title (i.e. they become joint owners) and when £40,000 or less changes hands which are not subject to a new mortgage or secured loan or to an existing one that will not be repaid	YES
Transfers when people are removed from the title (i.e. they cease to be joint owners) and when no money changes hands which are not subject to a new mortgage or secured loan or to a mortgage or secured loan that will not be repaid	YES
Transfers when people are removed from the title (i.e. they cease to be joint owners) and when £40,000 or less changes hands (the transaction must not involve a new mortgage or secured loan or be subject to any mortgage or secured loan that will not be repaid)	YES
Transfers of any type that involve the taking of a new mortgage or secured loan	NO
Transfers of properties which have mortgages or loans secured on them which will not be repaid as part of the transaction	NO
Transfers where the property is being given to somebody as a gift	YES
Transfer involving the repayment of an existing mortgage or secured loan where no new mortgage or secured loan is taken out	YES
Transfers of property to the beneficiary under a will or intestacy (Assents)	NO
Purchases (including cash purchases)	NO
Transfers of unregistered land	NO

How much would a solicitor charge to carry out the transfer of equity?

Obviously there is no definitive answer to this question, however a typical fee might be around £100 plus VAT, as well as disbursements.

What Does the Kit Contain?

Our diy transfer of equity kit contains all the forms you will need together with comprehensive step by step guides to take you through the entire process. Take a look at the contents page by clicking on the link to see what the kit contains. You can also e-mail us at : diytoe@freeconveyancingadvice.co.uk

Is DIY conveyancing right for me?

Successfully completing a conveyancing transaction can be rewarding, both financially in terms of the legal fees saved and also in terms of the sense of achievement, however there are also risks involved.

You should note that the purpose of the kit is to provide you with the tools to carry your own transfer of equity conveyancing. You will not be professionally represented and as a result you will be solely responsible for any loss suffered as a result of the transaction. Free Conveyancing Advice accepts no liability for any loss. Please refer to the disclaimer at the foot of this page.

You should only proceed if you are fully confident to do so. Instructing a lawyer protects from any such loss in that the the lawyer will be obliged to compensate you for any loss suffered as a result of his negligence.

Obtaining the Kit

The kit is free, though donations are welcome. Just click here to go to our downloads page then find the kit under D in the alphabetical list and click the link to download.

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Disclaimer:

This website is for general information only and does not constitute professional advice. The author of this site is NOT a solicitor, licensed conveyancer, legal executive or otherwise legally qualified. Whilst Free Conveyancing Advice makes every effort to maintain the accuracy of the information on this web site, Free Conveyancing Advice shall not be liable for any loss, effect, reaction or subsequent result of the use of any product, information or service advertised or displayed on this site. The readers of Free Conveyancing Advice assume full responsibility for using the information on this web site. It is recommended that you always seek the advice of a lawyer. The legal information supplied only applies to England and Wales.

Links to other sites from this site are for information only and Free Conveyancing Advice accepts no responsibility or liability for information contained on any site which is linked from or to this site.