Cashback Remortgages · Remortgaging
Transfer of Equity Explained
A transfer of equity changes who legally owns a property, for example after a relationship change or to add a partner. It often happens alongside a remortgage.
How it works
Adding or removing a named owner requires legal work and usually the lender's consent, since it affects who is responsible for the mortgage. It is commonly combined with a remortgage to change the borrowing at the same time.
Affordability is reassessed on the remaining or new borrowers.
Legal and tax points
There can be tax implications depending on the value transferred and the circumstances. Take legal and, where relevant, tax advice before proceeding.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.