Transfer of Equity

digitalife

Hi

Need some advice on Transfer of Equity.

Long story short... I own a property jointly but will be gifted the other parties share i.e. no consideration. I am remortgaging and taking on the mortgage solely in my name. I know there will be SDLT to pay.

I am finding it really difficult to find a decent solicitor/conveyancer.
Only approached local solicitors who are asking for £750-800 plus VAT and disbursements.

Is this the going rate for just the TOE?

I elected to use Nationwide’s Conveyancing service i.e. their solicitors but they don’t have the staff to do the TOE. So now I have to look for one... but it’s literally like a minefield.

Any tips or suggestions would really help..

[Deleted User]

I can't see how this is a issue for you. It's a bread and butter case for conveyancing firms. Local solicitors don't like remortgage work generally as not enough money in it for them but online firms will lap this up.



The firm I use does it for a fixed fee of £299 for the remo and £150 for the transfer of equity. That's fairly standard from what I've seen.



Search for an online conveyancer rather than a solicitor. There are loads on the first page if Google that will do it.



As long as you don't need it done in 3 weeks then online ones will be fine even if a bit slower than high Street equivalent. It's not a tricky transaction in the grand scheme of things