We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Want to become a Forum Ambassador? Visit the Community Noticeboard for details on how to apply
Witness signatures for completion - HELP!
JJ70_2
Posts: 8 Forumite
I wonder if anyone has come across this before?
We are in the process of moving our mortgage. The solicitor has written to us with a completion date and asked us to sign and get a witness for our signatures. The small print states that this witness may become liable for our mortgage debt if we default. I cannot think of anyone who would sign something like this - I certainly wouldn't put myself forward as liable for another person's mortgage debt!
Has anyone been through this before and how did they get through it?
We are in the process of moving our mortgage. The solicitor has written to us with a completion date and asked us to sign and get a witness for our signatures. The small print states that this witness may become liable for our mortgage debt if we default. I cannot think of anyone who would sign something like this - I certainly wouldn't put myself forward as liable for another person's mortgage debt!
Has anyone been through this before and how did they get through it?
0
Comments
-
The small print states that this witness may become liable for our mortgage debt if we default.
Are you sure? Getting a witness to countersign a mortgage offer letter is quite common. However, I cannot recall ever seeing a statement that the witness could become liable. I couldnt see how they could enforce it either.
Who is the lender?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I’ve never heard of such a thing.
I recently had to get a witness for my mortgage and it was exactly that – someone to confirm my identity.
It sounds more like they are asking for someone to act as guarantor for the loan.0 -
thank you for the quick replies
the lender is Alliance & Leicester, the solicitor is Withy King
the small print says you "may" be liable and advises the witness to get legal advice.0 -
Witnessing a signature carries some liability. Just as certifying documents does as well (another thing often done by people without realising there is a liability). However, the liability isnt for the loan.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
Thanks for replies, just spoken to the solicitors and they have confirmed that they require a witness only, not a guarantor. Phew!!!! I will stop panicing now and look forward to saving about £65 a month (more if interest rates go up)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards