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A transfer of equity changes who's on the title without a full sale — commonly after marriage, divorce, separation, or simply changing how ownership shares are split between joint owners. If there's a mortgage on the property, your lender's consent is normally needed as part of the process.
What is a transfer of equity?
It's a change to who owns a property without a full sale — commonly adding a partner to the title, removing an ex-partner after a separation or divorce, or transferring a share of a property as part of family or estate planning.
Do I need my lender's consent to transfer equity?
If there's a mortgage on the property, yes — the lender has to consent to the change, and often needs the remaining party (or parties) to be assessed as able to afford the mortgage alone.
Will I pay Stamp Duty or Land Transaction Tax on a transfer of equity?
It can apply if money or a share of a mortgage changes hands as part of the transfer — for example, one partner effectively taking on the other's share of an existing mortgage — even though no money is paid to an outside seller. Your conveyancer works out whether it applies to your specific situation.
Why does a transfer of equity usually cost less than a full purchase?
It's usually simpler — no chain, often no new searches needed — so legal fees tend to be lower, though the amount of work still varies by firm and by situation, particularly where a mortgage lender needs to be involved.
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