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Title of deeds advice?
bunglesabout
Posts: 54 Forumite
Hi all
can anyone advise me as to (roughly) how much a 'title of deeds' should cost and what this actually does?
I am intending to purchase a home with my partner and mother.
My mom is going to provide the lion share of the deposit, but due to her age, the mortgage advisors I talked to said that she would not be able to be listed on the mortgage application, as this would massively reduce the number of years we could have the mortgage over.
A friend has told me though, that we could get her a 'title of deed' and this would protect her portion of our investment.
I fully intend to see a solicitor about this, but would find it very helpful if someone could give me some basic advice about what this deed does, and what it would cost her.
Any information would be gratefully received.
Bungle
can anyone advise me as to (roughly) how much a 'title of deeds' should cost and what this actually does?
I am intending to purchase a home with my partner and mother.
My mom is going to provide the lion share of the deposit, but due to her age, the mortgage advisors I talked to said that she would not be able to be listed on the mortgage application, as this would massively reduce the number of years we could have the mortgage over.
A friend has told me though, that we could get her a 'title of deed' and this would protect her portion of our investment.
I fully intend to see a solicitor about this, but would find it very helpful if someone could give me some basic advice about what this deed does, and what it would cost her.
Any information would be gratefully received.
Bungle
0
Comments
-
Its called a declaration of trust and will be in the region of £150 + VAT
Essentially a restriction is placed on the title meaning that should you come to sell she is due back her share of the contribution.0 -
Thank you. That's very helpful.
Bungle0
This discussion has been closed.
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