Consent to Mortgage - Have I just shot myself in the foot?

holidayhippo

Long story short - me and my partner have been together 7 years, found it difficult to get a mortgage for one reason or another.

I am not on the mortgage, as I have been an agency working for a couple of years and just moved into a fixed term contract - not exactly brilliant for mortgage purposes.

So my partner and his mum have gone on the mortgage together with the intention that as soon as I am permanent that I will buy her out. The mortgage advisor was aware of this, the bank statements that my partner supplied were of our joint account etc.

I had to sign a Consent to Mortgage on Thursday before the sale could complete. The document was brought to me at my place of work, I signed it and they took it back immediately.

It was explained that I was just agreeing that If the house was repossessed I would be homeless.

Im now sat thinking about it, we are about to spend a lot of money on the house, granted this is money is shared but Im not worried that if we split up I would be entitled to nothing.

We agreed that mortgage payments would come out of our account, any overpayments (good intentions and all that)

I don't for a moment believe that we are going to split up, we will be getting married soon, but I have always thought of the worse case so that Im not !!!!!!ed!

Have I just made a giant mistake will I have any right to it if we were to split up and the house not being repossessed??

Thrugelmir

You've signed away your rights to an interest in the property.

tigsly

Do you trust your partner? It 'feels' as if you don't..

why did he bring the paperwork to you on the day to sign then take it right away again?

didn't you talk about it all before.. Or was it a matter of it had to be done quick?

I think as pp said you've signed away your rights-

anselld

Partner? Are you married?
If married then all assets are joint anyway and you have a claim.
If not married then you don't.

Pixie5740

If the OP gets married would that supersede the consent to mortgage?

anselld

Pixie5740 wrote: »

If the OP gets married would that supersede the consent to mortgage?

"with all my worldly goods I thee endow"

Pixie5740

anselld wrote: »

"with all my worldly goods I thee endow"

Thanks, I was just curious. What a kick in balls (or pie) it would be to sign this, get married and the years down the line get divorced to find out you still had no right.

holidayhippo

I do trust him, but I have always been very superstitious (I blame my mother).

My brain works in very strange ways, I have always planned for the worst and it has never happened.

Pixie5740

holidayhippo wrote: »

I do trust him, but I have always been very superstitious (I blame my mother).

My brain works in very strange ways, I have always planned for the worst and it has never happened.

I'd be suspicious too in your position. Money does funny things to some folk.

davidmcn

Thrugelmir wrote: »

You've signed away your rights to an interest in the property.

I suspect the only thing the OP has signed away is the right to occupy the property if the lender repossesses. Nothing to do with any claims between them and partner.

holidayhippo

We have been together since we were children basically as we are 21/22.

Both him and his parents said if anything was to happen to our relationship they would never see me wrong, as we have just bought a new kitchen, we are about to add a drive etc etc etc.

Its just that gremlin in the back of my mind that won't shut up, what if things became nasty, horrible the way some break ups do and his parents were blinded by hate that they then felt I deserved nothing?

What happens then.

Granted I am not planning for anything to happen and I would like more than anything for us to still be together and collecting our pensions, however I would like to know if that doesn't happen I would be okay.