what is occupiers consent form?

Nelcio

Thank you very much, very helpful.

merrydance

Just had to get one of these forms signed by my daughter. Does it have to be witnessed by a solicitor? £300 fee involved.

kingstreet

merrydance wrote: »

Just had to get one of these forms signed by my daughter. Does it have to be witnessed by a solicitor? £300 fee involved.

That would depend on the lender involved and obviously the fees of the solicitor chosen.

Is independent legal advice mandatory? Ask the lender.

arbtrader

We are not financially linked in anyway... we have both our names on the council tax... but that's it. No joint bank accounts, no joint utility bills.

RobinsonA

consent to mortgage form

I am currently in a confused state can someone help?

If I sign the occupiers consent form,(we are moving to a new house - and I will not be on the mortgage) and then (God forbid) me and my wife separate, have I given up any right to any entitlement of the house?

kingstreet

No.

You are simply saying you will be bound by the mortgage deed and will move out if they repossess.

Jonbvn

Sorry OP, but there is no such thing as a "free lunch". Banks are businesses not charities, which was true in 2001 and is still true.

davidmcn

Jonbvn wrote: »

Sorry OP, but there is no such thing as a "free lunch". Banks are businesses not charities, which was true in 2001 and is still true.

Not sure which "OP" you're replying to, but note the thread is seven years old.

SWTW

I appreciate this thread has been ongoing for a number of years.

I have a question regarding the Occupiers Consent form.

I have taken on a relatively small mortgage which represents 15% of the purchase price of the property. I am the sole person on the mortgage and my wife is not on the property deeds. I understand why the lender insists on these consent forms but my question is if I should die, I have a life cover policy which more than covers the mortgage amount and the proceeds of this policy will go to my wife whom would pay off that mortgage balance. However, If my wife signs this consent form, can the lender repossess and evict in an interim period where my wife has not received the proceeds of said life policy and hasn't potentially got the means to pay the mortgage payments in that period? Given that she will hold the 85%+ stake in the property upon my demise, I cannot see how the lender could enforce this. Please can someone clarify?

Thanks in advance.
Ps- I know the lender is just trying to protect themselves to recover monies loaned in default situations.

davidmcn

SWTW wrote: »

However, If my wife signs this consent form, can the lender repossess and evict in an interim period where my wife has not received the proceeds of said life policy and hasn't potentially got the means to pay the mortgage payments in that period?

In theory yes, but it's a rather unlikely scenario you've cooked up there. The repossession procedure takes ages, the lender would know that their money will be coming through soon enough, and besides, lenders don't like the sort of publicity associated with evicting grieving widows.