Cost guide
How much does a Transfer of equity cost?
Thinking about a transfer of equity? This means adding or removing someone from your property's ownership. You might be pleasantly surprised to learn that the legal costs can be quite reasonable, typically ranging from £300 to £800 across the UK. This fee usually covers the essential legal work. Your chosen conveyancer will handle all the paperwork, communicate with the Land Registry, and make sure the process is smooth and legally sound for you.
Typical price
£300 to £800
What changes the price
Property Complexity
A straightforward property title will usually mean lower legal fees for you.
Mortgage Involved
If a mortgage needs to be re-arranged or consented to, it adds a bit more complexity and cost.
Number of Owners
More owners being added or removed can sometimes make the process slightly more involved.
Firm's Location
Legal firms in larger cities, particularly London, may have slightly higher operating costs.
Your Conveyancer's Experience
Highly experienced conveyancers might charge a little more for their expertise.
Additional Legal Advice
If you need extra legal guidance beyond the transfer itself, this could add to your overall bill.
Prices by region
| Region | Low | Typical | High |
|---|---|---|---|
| London | £450 | £700 | £950 |
| South East | £400 | £650 | £850 |
| South West | £350 | £550 | £750 |
| East of England | £350 | £550 | £750 |
| Midlands | £300 | £500 | £700 |
| North West | £300 | £500 | £700 |
| North East and Yorkshire | £300 | £450 | £650 |
| Scotland and Wales | £300 | £450 | £650 |
Questions people ask
What is a 'transfer of equity'?
It's the legal process of changing the ownership of a property. This means adding a new owner or removing an existing one from the title deeds.
Do I always need a solicitor?
Yes, it is highly recommended to use a qualified solicitor or conveyancer. They ensure all legal requirements are met and protect your interests during the process.
Are there other costs besides legal fees?
Yes, you might also pay for Land Registry fees to update the ownership records. Sometimes, there are small disbursements for official searches too.
How long does a transfer of equity take?
It can vary, but a straightforward transfer often takes 2-4 weeks. If a mortgage is involved or extra paperwork is needed, it might take a little longer.
Will Stamp Duty be payable?
Stamp Duty Land Tax (SDLT) is sometimes payable, depending on the circumstances of the transfer. Your conveyancer can advise you on your specific situation.
Can I get a fixed fee quote?
Many firms offer a fixed fee for transfer of equity services, giving you certainty on your costs. Always confirm what is included in any quote you receive.