Who has to sign for a secured loan ?

thefishdude

this is probably has an obvious answer but when you get a secured loan who has to sign and agree ???

Currently have no mortgage on our house and have been doing it up over several years using personal credit. Just needs a final push and have no personal credit left. So going for a secured loan to get the rest and may aswell consolidate the personal credit into one payment as I’m sure it will have a lower interest.

Now problem is me and my wife own 95% and Inlaws own 5% of property. We don’t really speak to them any more (long story) so Can we avoid getting them involved or will they have to sign some documents agreeing to the secure loan ??

Gaz83

You're right, it has an obvious answer. They'll need to agree to it too.

thefishdude

Thought so lol was just hoping to avoid the agro

jonesMUFCforever

Any lender with any sense will check the Land Registry to see who owns what before they will lend to you.

If your incomes allow it have you considered making an offer for the 5% you do not own then get a mortgage to cover all the debts?

[Deleted User]

thefishdude wrote: »

this is probably has an obvious answer but when you get a secured loan who has to sign and agree ???

Currently have no mortgage on our house and have been doing it up over several years using personal credit. Just needs a final push and have no personal credit left. So going for a secured loan to get the rest and may aswell consolidate the personal credit into one payment as I’m sure it will have a lower interest.

Now problem is me and my wife own 95% and Inlaws own 5% of property. We don’t really speak to them any more (long story) so Can we avoid getting them involved or will they have to sign some documents agreeing to the secure loan ??

If there's no mortgage currently would it not be simpler to get a mortgage to refinance your debts and pay the inlaws the 5% so that you can be rid of them....financially at least?