Transfer of Equity - two solicitors?

jwright24

Hi,

My partner (i guess now ex-partner) and I have separated. Thankfully everything is amicable and we have come to an agreement that I will keep the house and pay her a fixed sum for her half.

Hurdle one for this is getting the mortgage company to agree to this and that is underway.

I've been trying to get quotes from solicitors to do the actual transfer of equity for us but what I don't understand is do we need to each instruct our own solicitor (effectively doubling the costs) or can one solicitor complete the process?

In my mind one solicitor should be able to do it as its effectively just the paperwork for what we have agreed so no legal advice needed for either of us.

foxy-stoat

The one that is going to be sole owner needs a solicitor, the other doesn't but they are advised to use one especially if there is consideration changing hands.

antrobus

jwright24 wrote: »

...
Hurdle one for this is getting the mortgage company to agree to this and that is underway......

That is actually not a hurdle.

You and your former partner are free to do whatever you like as regards ownership of the property. Your lender may or may not agree to release your ex-partner from the mortgage. If they say no, that does not prevent the 'transfer of equity'.