Transferring equity means to add a person from a mortgage when remortgaging. The process involves the changing of legal ownership of the property and therefore requires a solicitor.

A solicitor will amend the deeds of ownership and draw up new paperwork stating how you will now own the property.

Once you’ve decided you need to transfer equity, you should follow the steps below:

• Find your new mortgage. 
• Apply for the mortgage. 
• Instruct your conveying solicitor.
• Provide the required documents. 
• Let us take care of the paperwork. 
• Complete your mortgage deal.

There are several situations in which you may need to transfer equity: 

• You want to add a new person, like a spouse or partner to your mortgage. 
• You and someone jointly own a house and they/you want to buy you out the other. 
• You want to gift your home, most likely to your children as part of estate planning.