Mortgage terms

marie_hc

Hello folks   Hubby and I are in the process of re mortgaging we have at long last received the offer.  But, I have spotted something in the small print on the offer.  
basically it is on signing we agree to building society having power of attorney above anyone else !   I sorry I don't have the exact wording but I can get that.

In all our years we have never seen this in the terms of a mortgage offer.it has always been worded lender has first call.  .    My question is-  is this now a general thing or the societies thing.   Is it worth questioning this?    

My children will all have power of attorney should it ever be needed  Quite worried about this and it took us long enough to get this offer 
It was never mentioned in any conversations we has with them 

user1977

It's not a power of attorney over you in general, just in relation to protecting their interests in the property. It's not uncommon in mortgage terms or particularly new. Nothing to worry about given it would only be exercised if there was a material breach of the mortgage terms.

K_S

@marie_hc I'm not a solicitor so couldn't tell you what it means exactly but it's not uncommon. For example, see the extract from Halifax's mortgage conditions below -