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Ask ivorylounge Your Own Question
Category: Property Law
Satisfied Customers: 33380
Experience:  Barrister at Self Employed Barrister
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My mum gave my sister and I the property she owns, and lives

Customer Question

My mum gave my sister and I the property she owns, and lives in with my sister, so that I could raise a mortgage to pay of another mortgage and buy the flat I live in outright. This was done via a deed or transfer in October last year. The mortgage company have indicated that they will not proceed with the mortgage as my mum would have 'rights of abode'. Is there any legal way to remove any rights my mum has to live in the property?
Submitted: 2 years ago.
Category: Property Law
Customer: replied 2 years ago.
It was suggested by our broker that mum would need to sign a consent to mortgage form which would put the lender's rights before hers. The lender's legal department have said that it wouldn't as she has previously owned the property.
Expert:  ivorylounge replied 2 years ago.
Oh I see. Your broker is right that she would normally complete a consent. The other option could be for your mother to move out of the property for a period of time. You should make this suggestion. I hope this helps. Please rate positive
Customer: replied 2 years ago.
Hi Thomas, Would there need to be a specific length of time where she would have to be not living there? And how would we prove that? Are there any other options?!
Expert:  ivorylounge replied 2 years ago.
The most sensible option is a letter of consent - which basically states that she has not rights to the property. This is very common and for most this is sufficient. However if she can prove a gap - more than 28 days can be sufficient - that will show a break (a fortnight holiday doesnt normally do it). this can be sufficient for some lenders - it would be for the broker to negotiate this with the lender. These are really your options. I hope this helps. Please rate positive.
Customer: replied 2 years ago.
Could you suggest ways we could prove a gap?
Customer: replied 2 years ago.
The numb of their argument is that because she pre-owned the property and still lives there the letter of consent would not work as a mechanism to rescind her right to abode.
Expert:  ivorylounge replied 2 years ago.
I understand the numb of their argument - although it would come down to the letter of consent - so it is possible to word it properly. You could provide a gap with her getting correspondence at the new address. Please rate positive.
Expert:  ivorylounge replied 2 years ago.
Can you please rate positive - thanks