independent legal advice for HSBC home owners loan?

shiv76

hi,
We currently have a mortgage with HSBC, and have applied for a homeowners loan which is nearly completed but I was wondering if anyone could shed some light on why I need to get independent legal advice form a solicitor when borrowing from HSBC.
The property deeds are in my name, but both myself and my husband are named on the mortgage.
When I applied for the loan they said my husband would need to seek advice because some of the money was being used to pay off my overdraft and it showed that he understood that he was paying off my debt. However now that we are at the final stage of getting the loan,
the bank are now saying that it is me that needs to seek the independent legal advice and not him.
They are now saying that he has signed a consent form in the bank to say he is aware that debts are being paid off and that because the house is in my name, i have to have the independent legal advice certificate.
My solicitor does not agree though and says that it is my husband that needs the advice as he is agreeing to pay the dept off if i cant pay it even though he is not the legal owner.
The bank are however saying that it is me that needs to get he advice as i am the homeowner. Surely when i signed the agreement with the bank i stated that my property would be reprocessed if i didn't meet payment this indicated my understanding??

i am totally confused who is right and who is wrong, as HSBC are saying one thing and the solicitor another and all i want is my money.
it has been a total nightmare. I applied for the mortgage at the end of may, it was Agreed by the underwriter on the 17th June and since then i have had nothing but problems with HSBC. every department has a different answer and to wait more then 13 weeks for a homeowners loan is terrible. never again will i re-mortgage with HSBC!!

Thrugelmir

May have something to do with the purpose of the money. HSBC are absolving themselves of any liability with regards to giving you actual advice. As in effect this is debt consolidation. HSBC are unlikely to recommend such a course of action as would leave themselves exposed in the event of repossession.

I assume that you have seperated from your husband from the facts given.

GMS

Surely if your husband is named on the mortgage then he is named on the deeds?

Your husband borrowing money for your benefit would need to be ILA as there could be accusations of 'Undue Influence' without it.

Are you transferring equity to your husband? If so then this is the most likely explanation for you requiring ILA.

Thrugelmir

GMS wrote: »

Surely if your husband is named on the mortgage then he is named on the deeds?

Not necessarily. OP awarded house following separation (?).

shiv76

I am still with my husband and his is not on the deeds but is on the mortgage as i purchased the property many years ago on the right to buy from the council and i was the tennent at the time so therefore only i could be named on the deeds. As we are married this isn't a problem as if anything happens to me he will get the house anyway!
I am just confused as to why i need the advice, its my house no matter what, and if he is on the mortgage surely if i dont pay the debt, they will chase him for it?

shiv76

Also i am only repaying a £1000 overdraft that i have with HSBC, which the underwriters requested as a condition to the loan, all the other money we are borrowing is going on an extension to the property!