Additional Borrowing HELP!!!!!

Kca

Hello
This is a question on behave of my dad, He currently has a joint mortage with his wife and he wants to take out £20 grand on the additional borrowing onto his morgatge.

He doesn't want his wife knowing for some reason but does she need to be involved if it is already a joint mortage? Or can he purely add £20 grand on?

Thanks in advance :rotfl:

bigadaj

If its a joint mortgage then all parties need to know, as the debt is joint and several, ie all parties are liable for all of the debt. If he did this somehow without telling her then it would be fraud/ deception.

Goldiegirl

It's not just his mortgage, it belongs to both of them.

Just to reverse things, would he find it acceptable if she got a further advance on their joint mortgage without telling him? I doubt if he'd be happy about it.

Both signatures are required on any joint mortgage application. So yes, she does need to be involved.