Alfreton 01773 301858
Clay Cross 01246 865048
Contact the experts
Property law can be complicated and is full of pitfalls to the unwary and inexperienced. When considering anything that affects your home, contact the experts to ensure everything is done properly and you are fully informed of the implications.
TRANSFER OF EQUITY
If you own a property and you wish to add or remove someone to the title of the property, then this is known as a transfer of equity. Adding someone to the property title entitles them to a share in the property ownership. If you have a mortgage on the property and it won’t be paid off before you transfer equity, you need to inform your mortgage lender and obtain their consent.
Reasons to transfer equity
You may wish to transfer equity for a number of reasons:
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If you get married or enter into a civil partnership, you can transfer a share of the value of the property to your partner or spouse
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If you separate or get divorced, then it is likely that one of the partners will be removed from the property title
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You wish to gift a property to someone or name them as inheritors in your Will.
Stamp Duty Land Tax may also apply.
Remortgaging your home
There are a variety of potential benefits to remortgaging your home but there are a lot of factors to consider, so make sure you contact our friendly solicitors to give you all the information you need to make the right decision. Benefits include taking advantage of a better mortgage deal allowing you to reduce your monthly mortgage payments; taking advantage of early repayment options or to release finance to make improvements to your home and add to its value.
DO YOU WANT TO MAKE SUBSTANTIAL HOME IMPROVEMENTS AND ADD TO IT'S VALUE?
Contact Cleaver Thompson Solicitors in Alfreton and Clay Cross to talk about remortgaging today. We can also help you with commercial conveyancing, plus commercial mortgages and remortgages.
ALFRETON OFFICE
5 & 7 King Street, Alfreton, Derbyshire, DE55 7AE
Tel: 01773 301858
CLAY CROSS OFFICE
6a Eyre Street, Clay Cross, Derbyshire, S45 9NS
Tel: 01246 865048