How much does transfer of equity conveyancing cost?
There is usually less legal work involved when transferring equity in a property than there is with a property sale or purchase. There are fewer third-party costs (disbursements) and property searches, for example, are not required.
What does my transfer of equity conveyancing quote include?
Complete quote
A complete quote includes a detailed breakdown of all legal fees and disbursements you'll pay to your solicitor, for a standard transfer of equity transaction.
Any potential cost that can be identified at the quote stage, such as the legal work for an associated remortgage, will be included in your quote.
Fixed fee promise
The fixed fee promise means that you pay exactly what you are quoted, provided the information you've given us is correct.
If you want your solicitor to carry out additional legal work that falls outside of the standard transfer of equity process, such as a will or deed of trust, your solicitor may charge you additional fees.
If you do ask your solicitor to complete any additional work, your solicitor will inform you of any additional costs.
No completion, no fee guarantee
Our 'No Completion, No Fee' guarantee ensures you don’t pay your solicitor's fixed legal fees if you decide not to proceed with the transfer of equity doesn’t complete. A fee included in your initial quote covers this guarantee. You can either apply this fee to your next transaction or request a full refund. Third party costs (disbursements) incurred on your behalf remain payable.
Remortgage work
If you are planning to remortgage the property at the same time as the transfer of equity, your solicitor can complete this work at the same time as part of the process.
All lender panels
When you transfer equity in a property with a mortgage, your solicitor will need to be an approved member of the bank or building society's legal panel. If your solicitor is not on the panel, you will incur additional costs and delays. As our solicitors can act for all UK mortgage lenders, your equity transfer can proceed without lender delays or additional costs.
Conveyancing Quality Scheme (CQS)
Quotes are provided by our highly experienced panel of SRA regulated conveyancing solicitors and CLC regulated licensed conveyancers.
Understanding your transfer of equity quote
Getting an online conveyancing quote takes moments - but understanding what is and isn't included in the quote can be intricate.
Conveyancing fees
Conveyancing fees are paid to your solicitor for the legal work that they complete on your behalf. Your conveyancing solicitor's quote should clearly detail the legal fees, including VAT, that you'll pay when your transaction completes.
Conveyancing disbursements
Disbursements are third party costs incurred by a solicitor on behalf of their clients. Examples of disbursements include Stamp Duty, HM Land Registry fees, bank transfer fees, and managing agent leasehold information packs.
In the event that additional disbursements are necessary, your solicitor will notify you.
FAQs
Are there any other legal fees to pay?
No, your conveyancing quote includes fees for all of the legal work your solicitor will need to do to complete a standard conveyancing transaction.
If I want my solicitor to do additional legal work, what will it cost?
In certain circumstances, you may ask your solicitor to complete additional legal work that is not part of a standard conveyancing transaction, such as a deed of trust or will. Your solicitor will notify you of any additional fee or disbursement cost implications.
Who pays the legal fees on a transfer of equity?
It depends. If you are getting married, moving in with a partner, separating or divorcing, both parties are effectively clients as mutual consent must be obtained.
The legal costs and fees would typically be paid by both parties, but the legal fees could be paid by an individual party if preferred.
If the property is being gifted to a child or family member, for example, the donor would usually pay the fees.
