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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 71048
Experience:  Over 5 years in practice
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Good Morning, Have a problem which is worrying me hope you

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Good Morning, Have a problem which is worrying me hope you can help.
I am a young 67 and retired and my husband is a young 63 and still working and will be so until he is 70. We have a property valued at approx £800.000 and we have a mortgage on it for £180.000, we needed to re-mortgage from our existing lenders £40,000 for some home improvements and a new car, but they refused us because of my husbands age and the fact I have now retired. We have a financial adviser that can arrange a re-mortgage with another lender for the full amount of £220.000 but there stipulations are the I need to have my name removed from the house deeds - so the new mortgage can be in my husbands name only, also that our son who still lives at home and is over 18 yrs old has to sign a letter stating that he is moving away from the home with immediate effect. I have been advised that we can take obtain a Deed of Trust so that I still have my legal right to the property...Is this correct. It all seems rather involved just to obtain an extra £40.000 which in effect is our money as we have all this equity tied up in the house. Please can you advise me if I am doing the right things in taking these drastic measures.

Thank you for your question. My name is XXXXX XXXXX I will try to help with this.

Is your son being asked to move away or is he being asked to sign a form of consent to mortgage which would be the normal way of doing this?
Customer: replied 3 years ago.

Hi Jo


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:-


Dear Sirs

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.



Is your son moving out or is he going to continue to live there?

He is not moving out simply because of this is he?
Customer: replied 3 years ago.

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 :-


Dear Sirs

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.

Yours Sincerely


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?

Jo C. and other Law Specialists are ready to help you
Customer: replied 3 years ago.

No you have explained everything perfectly thank you very much. You have just confirmed my doubts regarding the letters. I will contact our financial adviser to ask him to set up the non owner occupier to mortgage form for my son to sign and I will look into the details of the register of matrimonial home right against the mortgage, against the deed of trust. Once again thank you it's been very helpful indeed.