Re Mortgage Advice

AlexHaden

Bit of an odd one this...

Our house needed some emergency building work, as 3 of the exterior walls were dangerous, and needed complete rebuild. due to the urgency of the work, we paid for it all on crdit cards....(around 30k) (i know...but it was either that or have the house fall down)

Now given that we have a 120k mortgage now, on a property thats worth 300-350k, we have decided to re-mortgage to cover the 30k. This will only take us to 150k.....Easy i hear you all cry!!!

Well heres the rub. Mother in law lives in the house, and has told us that she will refuse to sign the waiver that all over 17 yr old who also reside in the property have to sign. Our names are on the mortagage and she doesnt pay any rent or upkeep, so we dont know why she wont sign, just one of those "age related" issues, probably!

So heres the question, can she really stop us from remortgaging, if she doesnt sign that form (whatever that may be??)

Thanks

Joe_Bloggs

Can you ask her to seek advice on the form from the citizens advice bureau.
J_B. Was the party in question a resident at the start of the existing mortgage? If so they would have signed away their right to remain if the mortgage company needs to repossess.
J_B.

homer_j_3

Have you explained what the aiver is for and has she understood it correctly. Have you explained the consequences of her refusal and the detrimental effect it is having on their child aswell as you?

If she refuses to sign it then the lender will not really want to take the property on due to the fact is they have to reposess they could be faced with a squatters rights situation.

I wouldnt suggest doing anything unethical,immoral or illegal but I wouldnt be suprised if it had crossed your mind!!!!!!!!!! Mother in laws for you though:rotfl: