URGENT: occupier's deed of consent

betternow8400

Sorry for the urgent marker, just need some quick help!!

We exchanged on our New home today :beer:

The mortgage we have is in my husband's sole name because my credit history isn't great. We've done everything completely in his name.They have transferred the mortgage over to the solicitor ready for completion next week.

Today the solicitor has asked me to sign an occupier's deed of consent form. I understand this is so I agree if it is repossessed etc efc that I move out too....but..... We're now worried this will affect the mortgage and they will change their mind because of my credit history?

I can't see anywhere on the form where it says they will credit check me, just a basic signature!

Help!! Am I worrying about nothing?!?!

GMS

It is standard for all adult occupiers not party to the mortgage to sign such a declaration.

betternow8400

Yeah, I understood that, but will it cause a problem? Will they credit check etc?

kingstreet

No. It's simply to bound you to the terms of the mortgage so no implied tenancy is created should the lender wish to repossess.

GMS

Were you declared as a dependant on the mortgage application? Did your husband declare himself as married? Are you providing any part of the deposit?

Which lender?

betternow8400

No, yes, no!

I'm not going to be living there for 3 months anyway whilst work is done.

edward31

Yesterday I found out from my mortgage broker, that my lawyer sent my fiancee's 'Occupiers declaration' over to the building society lending my mortgage (single applicant - solely in my name)

As a result I they have reduced my mortgage by 30% its original value, because he has 1 item of adverse credit from 5 years ago.
Is this the new face of lending criteria? Because if it is – the lenders can keep their money.

Since when does a lender unqualify me for a mortgage after receiving an ‘occupier’s declaration’ and deciding my choice of partner affects my ability to afford my mortgage?
I would be very interested to know if anyone else out there has experienced this.

My mortgage broker says I am the first, she has ever had this happen to!

1 week away from exchange of contracts and the building society has reduced my mortgage by £28,000
I don't know if the building society are being wicked to us (because no one else on the internet seems to have reported this as happening to them)
Angry is an understatement.

kingstreet

Leeds by any chance?

edward31

Skipton building society
in Leeds Yes

kingstreet

Ah, okay.

Never mind.

It sounded like Leeds Building Society's MO.

Senior_Paper_Monitor

I have recently had a fairly long conversation with the management of a local building society, who we are fairly close with, on this subject.


Their view is that as part of MMR they need to check that applicants aren't a drain on the mortgage holder and therefore want a credit check - we now obtain a 'deed of consent' + 'permission for credit referencing'.


My understanding is that this may become more common in the coming months.