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My husband has a letter to sign forwarded to us by our financial adviser which has tobe forwarded onto the building Society once he has signed it, its as follows:-
please advised that my son Mr R...... R... will no longer be residing at the address above as he is now moving out from the property with immediate effect.
No my son is going to continue to live here with us, we have just been ask to tick the box's so to speak to satisfy the mortgage company.
I have just found the letter he has been ask to sign too - its as follows :-
Please be advised of the following information:
I R...... R..d have been living at this address with my parents, on temporary basis and as from week ending 25th May 2014 will be vacating the property to take up residency at the following address:
(and we were advised to say he was going to live with his sister)
(So here we inserted her address)
I hope this information is acceptable to you.
Mr R...... R...
Don't want to get these forms signed and returns if we are implimiting ourselves in any way ?
If your son is going to continue to live with you and you say that he is moving out in order to get this mortgage you commit mortgage fraud.
It certainly casts doubt upon the integrity of the mortgage broker.
What would normally happen in circumstances like this is that your son would be asked to sign a non-owner occupier consent to mortgage form. It is something that the solicitor will deal with for you. With regard to the deed of trust you mentioned, it can be done with a simple deed of trust or you can register a matrimonial home right against the property as a restriction which is not at all unusual. The solicitor that deals with the remortgage will do that for you quite easily.
The fact that the property is in your husband's name only does not diminish your financial claim on it in the event of death or divorce you do need to make sure that your Wills do still reflect what you want to happen in the event that either of you die.
Can I clarify anything for you?