How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask C.Cornel Your Own Question
C.Cornel
C.Cornel, Lawyer
Category: Law
Satisfied Customers: 1043
Experience:  Senior Lawyer at Legal Group
105439980
Type Your Law Question Here...
C.Cornel is online now

I need to get advice on a ‘Joint Mortgage Sole Owner’

This answer was rated:

Hi, i need to get advice on a ‘Joint Mortgage Sole Owner’ contract. My partner needs to remortgage her property in the UK but we live here in Singapore and she does not work. A mortgage company has offered her a deal based on JMSO but as a pre requisite I need to seek legal advice re being her guarantor before we can go ahead. Are you able to help?
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: We have been asked to provide paperwork once he has received advice
JA: Where is the property located?
Customer: In London, UK
JA: Anything else you want the Lawyer to know before I connect you?
Customer: No

Hello, My name is***** am a licensed lawyer from the UK.

Customer: replied 17 days ago.
Hi, the mortgage company require me to get legal advice on what it means to enter into a ‘Joint Mortgage Sole Owner’ agreement. There will be no transfer of equity, effectively I am just acting as guarantor should the property fall empty for a period of time and my partner has no rent coming in.

Can you attach the agreement in here?

Thank you.

Customer: replied 17 days ago.
File attached (ZP62222)

Thank you, great.

Generally, the legal service does involve a subsequent legal fee, would that be fine?

Thank you.

Customer: replied 17 days ago.
Depends on what is deemed as advice in this document, are you able to elaborate? And estimate of cost?

The legal advice will refer to the terms of this particular contract, the potential liability and legal effects associated with the transaction.

In terms of costs, it would depend on the amount of time required, the customary fee is in the range of 300 GBP to 500 GBP or the equivalent in a foreign currency.

Thank you.

Customer: replied 17 days ago.
I feel this is expensive
Customer: replied 17 days ago.
I will enquire further and get back in touch if I need too

No worries, that is fine.

In case of need, I can disclose my business email and if you will still need assistance, you can email me directly.

Thank you.

Customer: replied 17 days ago.
that would be great thank you

You should see a proposal in a blue box in order to obtain my email, it only works on computer/laptop/tablet and I don't think it works on mobile.

Thank you.

C.Cornel and 2 other Law Specialists are ready to help you