Completing a Deed of Postponement

Catbus

Hi all! I'm trying to remortgage with my building society and need to do a deed of postponement. They have an online form, and I assumed initially that I just get that signed, but is it that simple? I've been looking for information online but to no avail and my building society were of little help, probably becuase I don't really know what I'm meant to be doing.

Any advice is more than welcome.

kingstreet

You don't complete a deed of postponement.

It's for the chargeholder to do that to prevent their charge being promoted to a first when the current mortgage is repaid and the current first charge lifted.

Catbus

kingstreet wrote: »

You don't complete a deed of postponement.

It's for the chargeholder to do that to prevent their charge being promoted to a first when the current mortgage is repaid and the current first charge lifted.

Thanks for that. Does that mean I'd have to contact the chargeholder first? Trying to get info from the building society is impossible.

kingstreet

If a lender has a deed of postponement template, you would forward it to the second charge holder for completion.

You would then provide it to your mortgage lender. Here's Nationwide's, as an example;-

http://www.nationwide.co.uk/~/media/MainSite/documents/about/media-centre-and-specialist-areas/information-for-lawyers/deed-of-postponement-of-subsequent-charge.pdf

Thrugelmir

Catbus wrote: »

and need to do a deed of postponement.

For what purpose?