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England & Wales · SRA / CLC firms

Transfer of equity

A change in the people named on the title where at least one of the existing owners stays: adding a spouse, removing a former partner, or transferring a share. Where a mortgage is in place the lender must consent, and the lender’s own requirements govern how it is done.

At a glance
Jurisdiction
England & Wales
Lenders covered
66
Handbook
UK Finance · Part 1 & 2

Part 2 of the UK Finance Mortgage Lenders' Handbook is amended by lenders without notice. Check the current version before relying on any requirement described here.

What has to be in place

  1. Lender consent

    A transfer of equity on a mortgaged property cannot proceed without the lender agreeing to the change in the people bound by the mortgage. Consent is the gating item, not a formality at the end.

  2. Release or joinder

    An outgoing owner is released from the covenants only if the lender agrees to release them. Absent that, they stay liable on a mortgage secured on a property they no longer own.

  3. Consideration and SDLT

    Where the incoming party takes on a share of the mortgage debt, that assumption of debt is chargeable consideration for stamp duty land tax even if no money changes hands.

  4. Occupiers

    Anyone aged 18 or over who will occupy and is not a borrower will normally be required to sign a consent postponing any interest to the mortgage.

  5. Registration

    The transfer and any deed of variation to the charge are applied for together at HM Land Registry, so the register reflects both the new ownership and the mortgage as varied.

Transfer of equity for 66 lenders

Each page below covers the same subject for one lender, and says which Part 2 question holds that lender’s own answer.

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All lenders and the topics covered for each →

This page is written for conveyancers and is general information rather than advice on any individual matter. Lender Monitor has no affiliation with the lenders it names, holds no endorsement from them, and is not owned by any of them; their names are reproduced only so that readers can tell which lender's requirements are under discussion.