Deed of Consent - Rights of my wife

vistera

Good day, I made a single application for a mortgage with Woolwich and they sent a Deed of Consent to be signed by my wife whereby she waives any rights she might have on the property. I set up a life insurance covering the amount of the mortgage and a Will leaving all my belongings to her in case I die (including the flat I am purchasing and that she will occupy with me). Does the Will supersede the Deed of Consent or in case of my death will my wife risk to be evicted from the flat even if she will be in position to keep up with mortgage payment through life insurance?

Many thanks for your help and....i am not dying yet !!!

handytips

A deed of consent has to be signed by anyone over the age of 17 occupying the property, it is nothing to get worked up about, every lender will want this signed, life insurance is designed to pay off the mortgage should the worst happen and your next of kin would receive that money, Life insurance has nothing to do with the lender. If you have made a will stating any proceeds of a life policy are to go to your wife then fine. You really are worrying about nothing.

loubel

vistera wrote: »

they sent a Deed of Consent to be signed by my wife whereby she waives any rights she might have on the property.

The document will be an agreement to postpone (not waive) your wife's rights to the property behind the lender so that if you stop paying the mortgage your wife can't stop them repossessing based on her occupation. As handytips says, this is a standard document and has no effect on your life assurance or inheritance.

kingstreet

Make sure you write the life cover in trust. The house could be repossessed while she's still trying to sort out probate. :eek: