Transfer of Equity
Costs and service information for transfers of equity
Transfer of Equity Fee Structure
Our fees cover all of the work required to complete a transfer of equity, including amending the registered ownership at the Land Registry and liaising with any mortgage lender involved in the transaction.
How long will a transfer of equity take?
The time it takes to complete a transfer of equity depends on the complexity of the transaction. A straightforward transfer without a lender can often be completed within 4 to 6 weeks. Where a mortgage lender is involved or where the transfer forms part of a more complex arrangement, such as a trust, the process may take longer.
Stages of the process
The precise stages involved in a transfer of equity vary according to the circumstances. However, below we have listed the key stages:
- Take your instructions and give you initial advice
- Send out our client care pack to you
- Obtain title information documents from the Land Registry
- Prepare the transfer deed for signature
- If a lender is involved, liaise with the mortgage company and satisfy their requirements
- Advise you on joint ownership and how the property will be held
- Arrange for all documents to be signed
- Submit the application for registration at the Land Registry
Our fee assumes that:
- This is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
- The transaction is concluded in a timely manner and no unforeseen complications arise
- All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
- No indemnity policies are required. Additional disbursements may apply if indemnity policies are required
Transfer of Equity Fees (No Lender)
| Property Value | Legal Fee | VAT | Land Reg Fee | Total | |
|---|---|---|---|---|---|
| £0 | £79,999 | £750 | £150 | £20 | £920 |
| £80,000 | £99,999 | £750 | £150 | £20 | £920 |
| £100,000 | £199,999 | £750 | £150 | £30 | £930 |
| £200,000 | £299,999 | £750 | £150 | £45 | £945 |
| £300,000 | £399,999 | £750 | £150 | £45 | £945 |
| £400,000 | £499,999 | £750 | £150 | £45 | £945 |
| £500,000 | £749,999 | £950 | £190 | £65 | £1,205 |
| £750,000 | £999,999 | £950 | £190 | £65 | £1,205 |
| £1,000,000 | £1,999,999 | £950 | £190 | £140 | £1,280 |
| £2,000,000 | £3,999,999 | £950 | £190 | £140 | £1,280 |
| £4,000,000 | £10,000,000 | £950 | £190 | £140 | £1,280 |
Transfer of Equity Fees (With Lender)
| Property Value | Legal Fee | VAT | Land Reg Fee | Total | |
|---|---|---|---|---|---|
| £0 | £79,999 | £795 | £159 | £20 | £974 |
| £80,000 | £99,999 | £795 | £159 | £20 | £974 |
| £100,000 | £199,999 | £795 | £159 | £30 | £984 |
| £200,000 | £299,999 | £795 | £159 | £45 | £999 |
| £300,000 | £399,999 | £795 | £159 | £45 | £999 |
| £400,000 | £499,999 | £795 | £159 | £45 | £999 |
| £500,000 | £749,999 | £995 | £199 | £65 | £1,259 |
| £750,000 | £999,999 | £995 | £199 | £65 | £1,259 |
| £1,000,000 | £1,999,999 | £995 | £199 | £140 | £1,334 |
| £2,000,000 | £3,999,999 | £995 | £199 | £140 | £1,334 |
| £4,000,000 | £10,000,000 | £995 | £199 | £140 | £1,334 |
Transfer of Equity Fees (Complex Trust etc.)
| Property Value | Legal Fee | VAT | Land Reg Fee | Total | |
|---|---|---|---|---|---|
| £0 | £79,999 | £815 | £163 | £20 | £998 |
| £80,000 | £99,999 | £815 | £163 | £20 | £998 |
| £100,000 | £199,999 | £815 | £163 | £30 | £1,008 |
| £200,000 | £299,999 | £815 | £163 | £45 | £1,023 |
| £300,000 | £399,999 | £815 | £163 | £45 | £1,023 |
| £400,000 | £499,999 | £815 | £163 | £45 | £1,023 |
| £500,000 | £749,999 | £1,060 | £212 | £65 | £1,337 |
| £750,000 | £999,999 | £1,060 | £212 | £65 | £1,337 |
| £1,000,000 | £1,999,999 | £1,060 | £212 | £140 | £1,412 |
| £2,000,000 | £3,999,999 | £1,060 | £212 | £140 | £1,412 |
| £4,000,000 | £10,000,000 | £1,060 | £212 | £140 | £1,412 |
Standard Additional Fees (Transfer)
| Additional Fee Name | Fee | VAT | Total |
|---|---|---|---|
| ID Checks (per client) | £30 | £6 | £36 |
| Office Copies (per copy) | £7 | £0 | £7 |
| TT Fee (bank fee) per transfer | £30 | £6 | £36 |
| Totals | £67 | £12 | £79 |
Other Additional Fees (Potential Fees)
| Additional Fee Name | Fee | VAT | Total |
|---|---|---|---|
| Mortgage Redemption (per charge) | £30 | £6 | £36 |
| Leasehold Fee House | £50 | £10 | £60 |
| Leasehold Fee Flat | £120 | £24 | £144 |
| Additional Title Fee | £150 | £30 | £180 |
Regulatory Information
BJ McKenna & Co Solicitors is authorised and regulated by the Solicitors Regulation Authority (SRA No. 570089). We adhere to the SRA Standards and Regulations which can be viewed on the SRA website.
McHale Group Affiliation
Since joining the McHale Group in 2022, BJ McKenna & Co Solicitors has enhanced its service offerings while maintaining the personal touch and local expertise our clients value. This partnership allows us to provide expanded resources and expertise across a wider range of legal services.
If you have any questions about our Transfer of Equity services or would like more information, please contact us.