Transfer of Equity process

Use this section as a reference guide whenever you need to find out what each process entails and the conditions that must be met in order for them to run and/or complete successfully. To see how the processes fit into the overall Conveyancing model, take a look at the process map below.

Process map

1       Initiate transfer details:

A             Enter transfer details

B             Enter additional client

2       Instructions:

A             Confirm instructions

B             Correspond with transferor

C             Forms returned from client

3       Prepare transfer:

A             Request office copies

B             Obtain deeds

C             Request redemption figure

D            Check mortgage offer

4       Pre-transfer:

A             Redemption figure received

B             Office copies received

C             Unregistered land

D            Initiate searches

E             Perform online searches

F              Land Registry search

G            Bankruptcy search

H            Searches received

I                Transfer deed

a                   Transfer deed checklist

b                   Draft TR1 - 1 to 2 transfer

c                    Send draft transfer to transferor

d                   Response to draft transfer

e                   Request final redemption figure

5       Transfer:

A             Pre-completion checklist

B             Completion statement and invoice client

6       Post-transfer:

A             Submit SDLT1

B             Account to client on completion

C             Register title

D            Deeds to lender or client

E             File closure