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JGM, Solicitor
Category: Scots Law
Satisfied Customers: 12067
Experience:  30 years as a practising solicitor.
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Good Morning My daughter was left £28,500 from her maternal

Customer Question

Good Morning

My daughter was left £28,500 from her maternal papa when she was 15. I was awarded full parental rights and responsibility for her when she was 10 (biological father still alive and has no contact, her biological mother died when she was 2).

Given the very difficult relationship with her father I asked the Accountant of Court to deal with her financial affairs and it was agreed that the monies would be invested in a house we were purchasing (my partner and I) . My daughter was awarded her own child solicitor who was in full agreement.

My daughter is now 18.5 years old and recently went to University in Glasgow and is requiring some financial assistance. I have discussed with her that there is a Second Charge on our property around the £28,500 investment from her monies. For me to raise some cash for her I would require to add this on to my mortgage and cannot do this until the second charge is discharged.

I wondered if these are our options:-

1. Discharge the second charge and then organise a will that she is left the property (which will happen anyway and my partner (who now is like a father to her) is wholly in agreement that she will be the sole beneficiary to the property

2. Discharge the second charge and request her name is XXXXX XXXXX the mortgage (but mindful that in a couple of years hopefully she will possibly want to look at buying something

Are there any other options we have not considered that you can suggest?

Many thanks

Submitted: 4 years ago.
Category: Scots Law
Expert:  JGM replied 4 years ago.
Thank you for your question.

Just so that I have this clear. Does the second charge relate to the £28500 due to your daughter? In whose favour is the second charge?

As regards the two options outlined by you, how would this release cash for your daughter now?

-Could you explain your situation a little more?

Many thanks.

Customer: replied 4 years ago.

Yes the second charge is in favour of my daughter as she was under 18 year old this was the only way forward.


I have the option of six months mortgage holiday within my mortgage package and my monthly payment is £1200 per month . The arrangement of 6 months holiday would then allow £7,000 to be available for my daughter .


My daughter is fully involved in conversations and very mature and aware of her rights etc. It is trying to get what is right for her and financial attainable for us.


I hope this additional information helps, please let me know if you require anymore, I appreciate it is a complex situation.





Expert:  JGM replied 4 years ago.
You could leave a will in her favour but a will can of course be changed at any time and the Accountant of Court may not be happy with the second security being discharged on this basis.

One way to do it would be not to put her on the whole title as she would, as you rightly say, probably have to be added to the security in favour of the mortgage provider. But what you could do is transfer part of the reversionary interest in the house, ie, part of the equity.

However, if you are going to take a mortgage holiday and give her the funds instead of the mortgage company is there any particular reason you want to discharge the second charge at all?

Happy as always to discuss further.