Remortgages and Transfers of Equity

Our Services

Home RESIDENTIAL PROPERTY Remortgages and Transfers of Equity

Not every property matter involves buying or selling. Sometimes it’s about changing who owns a share of your home, or switching to a better mortgage deal. Whatever the reason, at Boyletts Law we make the legal process straightforward, whether you’re in Sawbridgeworth or anywhere across the Hertfordshire-Essex border.

What Is a Remortgage?

A remortgage is when you take out a new mortgage on a property you already own, either to switch to a better rate, release some equity, or replace an existing deal that’s coming to an end. Your solicitor’s role is to make sure the legal side keeps pace with your lender’s timetable, so the new mortgage completes on time and the old one is paid off correctly.

What Is a Transfer of Equity?

A transfer of equity changes the legal ownership of a property without involving a conventional sale to an entirely new owner. It commonly involves adding or removing someone from the registered title, or changing the respective ownership between existing owners. This is common when:

A couple marries, separates, or divorces, and wants to add or remove a name from the title
Parents add a child to the property title, or vice versa
One joint owner buys out another’s share
A property is proposed as part of a wider family, estate or financial arrangement.

It sounds simple, but it involves real legal and financial steps, particularly if there’s a mortgage involved, so it’s worth having an experienced solicitor handle it properly. If the property is mortgaged, the lender’s consent will usually be required. The lender may also impose conditions or require separate representation.

Our Remortgage Service

Remortgaging should be about saving money, not creating stress. Our team will:

Liaise directly with your new lender to meet their legal requirements and timescales
Carry out the necessary title checks and, where needed, updated searches
Redeem your existing mortgage and register the new one at HM Land Registry
Handle the transfer of funds securely between your old and new lender
Keep you updated throughout, so there’s no last-minute scramble before your rate switches

Our Transfer of Equity Service

Changing ownership of a property needs to be done correctly to protect everyone involved, especially where a mortgage lender needs to give consent. We’ll take care of:

Preparing the transfer deed and registering it with HM Land Registry
Liaising with your mortgage lender to obtain their consent, where a mortgage is in place
Advising on any Stamp Duty Land Tax that may apply to the transfer
Explaining how the change in ownership affects your legal rights and responsibilities
Making sure the process is handled sensitively, particularly in cases involving divorce or separation

Why Choose Boyletts Law?

We’re a local firm based in Sawbridgeworth, and we understand that remortgages and transfers of equity often come at significant moments in life, whether that’s a relationship change, a family decision, or simply wanting a better deal. Clients choose us because we:

Provide clear fixed-fee quotations, with anticipated disbursements and any circumstances that could affect the fee explained at the outset. Assign you a named solicitor who deals with your matter personally
Work to lender deadlines, so remortgages complete on time
Explain everything in plain English, with sensitivity where it’s needed

Frequently Asked Questions

How long does a remortgage take?

A straightforward transfer of equity may take approximately four to eight weeks, although lender requirements, leasehold formalities, negotiations between the parties and tax issues can extend the process.

How long does a transfer of equity take?

A straightforward transfer of equity typically takes four to eight weeks, though this can vary if a mortgage lender’s consent is required or if the matter is more complex.

Will I need to pay Stamp Duty Land Tax on a transfer of equity?

Stamp Duty Land Tax may be payable where money changes hands or an incoming owner assumes responsibility for some or all of an existing mortgage. The applicable treatment depends on the circumstances, including the amount of chargeable consideration and any available reliefs

Do I need a solicitor for a remortgage?

If a new mortgage lender is involved, it will normally require a solicitor or licensed conveyancer to complete the legal work. The conveyancer will usually need to be approved by, or otherwise acceptable to, the lender.

Get in Touch

If you’re remortgaging or need to transfer equity in a property in Sawbridgeworth or the wider Hertfordshire and Essex area, we’re here to make the process as smooth as possible. Call us on 01279 295047 or email enquiries@boylettslaw.co.uk for a free, no-obligation quote.

Make an enquiry

If you would like to arrange an appointment please contact our friendly team today on 01279 295047

or by completing our online enquiry form.

Office hours

Monday: 9am - 5pm
Tuesday: 9am - 5pm
Wednesday: 9am - 5pm
Thursday: 9am - 8pm
Friday: 9am - 4pm
Saturday: By appointment

Appointments

We have FREE onsite parking, disabled access and in addition to meetings at the office, we are able to arrange appointments by Zoom, Skype, FaceTime or telephone. We also offer free home visits if required.