No Other Person Residing over the age of 17.

mattyha

Hi all,

I have just had my mortgage deeds through to sign and send back to the Solicitors.

On the covering note is says:

"It is a condition of the offer of mortgage that we confirm to your mortgagees that there will be no other person residing at the property over the age of seventeen. I enclose a form requiring you to declare any further occupants of the property. Would you kindly return it to me in the enclosed self addressed envelope."

This phrase has me worried a little as I am buying the house but was planning on my GF moving in, and because she currently in an IVA am keeping all finances seperate.

So was wondering (hoping) if this is just a standard thing for her to sign to say that she will not claim an interest in the property, and that they will not turn round and say they won't lend me the money due to her IVA.
Or if it is just best to ignore this and say that I will be the only one living there.

Many thanks in advance for peoples advice.

Bargain_Rzl

I *think* this is something to do with the lender having to know about anybody who might have an "interest" in the property besides yourself and them. When my dad bought his flat I was an adult dependant (age 19 in full time education) and I had to sign a form for his mortgage lender to declare that I had no interest in the property.

mattyha

So I'll be fine declaring her or just 'forgetting' to do it?

Thanks again!

chirpy007

Bargain_Rzl wrote:

I *think* this is something to do with the lender having to know about anybody who might have an "interest" in the property besides yourself and them. When my dad bought his flat I was an adult dependant (age 19 in full time education) and I had to sign a form for his mortgage lender to declare that I had no interest in the property.

This is exactly why they want to know.

F_T_Buyer

It's because she can claim squarters rights, but I don't think the bank can force her to leave as she is under 18 (I might be wrong, I just remember this situation occuring before).

mattyha

Right, so they want anyone who could have an interest in the property to sign to say they cannot declare an interest in the event of a re-possesion.

So it will not bring me any trouble in getting the mortgage as my GF is under an IVA?

chirpy007

mattyha wrote:

Right, so they want anyone who could have an interest in the property to sign to say they cannot declare an interest in the event of a re-possesion.

So it will not bring me any trouble in getting the mortgage as my GF is under an IVA?

If you are getting the mortgage by yourself then just say no. Whose to say who will move in once you have brought the property.No-one knows what the future holds you could decided to weeks after moving in that you want to life together, you may decided to rent out a room to your brother or mate, losts of things may happen

lottie$_2

I bought a property recently and had to declare my husband - he is a discharged bankrupt, and it didn't make any difference. I don't believe they do any investigation into who the people you declare are. Any additional residents have to basically sign a form to say that they won't try and claim in effect squatters rights if the house is repossessed.