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How does a Declaration of Trust affect a mortgage application?

superbabe612 · 2011-06-08 11:51:39

Advice please! My father-in-law is giving me & my OH the proceeds of his house sale as a large deposit on another property (for him to join us if he's well enough to leave his nursing home). We are awaiting a mortgage offer from the Halifax for a 38% LTV (borrowing £70k of £183k purchase price). Our solicitor has…

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kingstreet Posts: 39,248 Forumite

10 June 2011 at 8:05PM

There's a two part test of capacity which can be carried out by a layman, even a solicitor.

Frankly, it will be for the solicitor to document what process she carried out to establish a more detailed medical specialist's assessment wasn't required.

I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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How does a Declaration of Trust affect a mortgage application?

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