Equity is the amount of value you own in your property and is best shown by a simple equation:
Market Value of your property today – outstanding sum owed on your mortgage = Equity
You may wish to change how much of the property you own, or who owns equity in the property for a variety of reasons. Most commonly these include:
This will include gathering of key documents about the property, including: Title Deeds, Property Deeds and Client ID. The conveyancer will then check to see if there are any mortgages on the property and outstanding amount owed, as well as checks to see if any other restriction may affect a transfer of equity on the property
Empire Business Centre
2 Empire Way
Authorised and regulated by the Solicitors Regulation Authority.
Real Legal Ltd, a company registered in England and Wales with number 12061875 and SRA number 663663.
Registered office: Suite 5 Empire Business Centre, 2 Empire Way, Burnley, BB12 6HH
Trading office: Suite 5 Empire Business Centre, 2 Empire Way, Burnley, BB12 6HH
Directors: Claire Stewart, Catherine Gavin and Kimberly Holgate.