Our remortgaging and transfer of equity services
Our remortgaging and transfer of equity services are designed to make property ownership changes as simple and seamless as possible.
Whether you are switching to a new mortgage deal, adding or removing someone from the title deeds, or restructuring ownership after a major life event, we will take care of every legal detail.
At Brethertons, we work efficiently to meet lender requirements and protect your interests, all while keeping you fully informed.
Our team combines specialist conveyancing expertise with a friendly, personal approach, ensuring your transaction progresses smoothly and without unnecessary stress.
Frequently asked questions about remortgaging and transfer of equity
What is remortgaging and how does it work?
Remortgaging a property means replacing your current mortgage with a new one, either with your existing lender or a different provider.
The new mortgage pays off the old loan, allowing you to secure a better rate, adjust your borrowing amount, or change the mortgage terms to better suit your financial situation.
When is the best time to remortgage my home?
The best time to remortgage is usually three to six months before your current fixed-rate or introductory deal ends.
This allows enough time to secure a new offer and avoid moving onto your lender’s higher standard variable rate, ensuring a smooth transition and helping you maintain lower monthly repayments.
How much does it cost to remortgage?
Remortgaging costs vary depending on the lender and property. Typical expenses include arrangement or valuation fees, legal conveyancing costs, and sometimes early repayment or exit charges.
Many lenders offer free legal and valuation services with certain deals, so it is worth comparing offers carefully to ensure overall cost savings.
How long does it take to remortgage?
A straightforward remortgage usually takes between four and eight weeks from application to completion. The timeframe depends on your lender, property type, and whether additional checks are required.
Having your documents ready and working with an experienced remortgaging solicitor can help keep the process smooth and efficient.
What are the benefits of remortgaging?
Remortgaging can help you secure a lower interest rate, reduce your monthly repayments, release equity for other purposes, or adjust your mortgage term.
It can also allow you to switch to a product that better suits your lifestyle or financial goals, offering greater flexibility and long-term financial control.
What documents do I need for a remortgage application?
You will usually need proof of identity, recent bank statements, payslips or tax returns, details of your existing mortgage, and evidence of any other financial commitments.
If you are self-employed, lenders may request additional accounts or income records. Your remortgaging solicitor will help ensure all necessary documents are correctly prepared.
What are the legal fees involved in remortgaging?
Legal fees for a remortgage cover the work of verifying title deeds, reviewing mortgage offers, carrying out necessary checks, and registering the new charge with HM Land Registry.
Costs vary depending on the property and lender, though many lenders include basic legal services within their remortgage packages.
What is transfer of equity?
A transfer of equity is the legal process of changing the ownership of a property without selling it. It involves adding, removing, or adjusting the ownership shares of existing parties.
Common reasons include marriage, separation, inheritance, or restructuring finances, often requiring lender consent if there’s an existing mortgage.
What is the difference between a transfer of equity and a remortgage?
A remortgage replaces an existing loan with a new one, often to secure a better rate or release equity.
A transfer of equity changes the ownership of a property. Sometimes, both happen together, for example, when one party buys out another’s share and refinances the mortgage.
Do both parties need a solicitor for transfer of equity?
In most cases, yes. Each party should have their own solicitor to ensure independent legal advice, particularly if one person is being added or removed from ownership.
If all parties agree and no conflict exists, one solicitor may act for everyone, subject to lender approval and circumstances.
How long does a transfer of equity take?
A straightforward transfer of equity typically takes four to six weeks. The timeline depends on whether a mortgage lender is involved, if Stamp Duty Land Tax applies, and how quickly documents are signed and approved. Your solicitor will manage each stage efficiently to avoid unnecessary delays.
What happens if I want to remove someone from the title deeds of a property?
If you wish to remove someone from the title deeds, you will need to complete a transfer of equity.
Your mortgage lender must approve the change if there is a loan on the property, and your solicitor will prepare and register the updated ownership details with HM Land Registry.
Contact our remortgaging and transfer of equity solicitors in Banbury, Bicester, Cheltenham and Rugby
For bespoke support contact our team of transfer of equity solicitors at Brethertons today.
Our solicitors in Banbury, Bicester, Cheltenham and Rugby will guide you through the transfer of equity and remortgage process from start to finish.
To speak with us, please call one of our offices below or fill out our enquiry form and we will get back to you promptly.
