Deed of Consent

Leakingtile79

Hello all,

Jst need a second opinion on this.

I am currently living in a friend's house, awaiting to move to a house me and my partner put an offer on already! My current friend / landlord owns the house, and they ar ein the process of getting a new mortgage. Due to this, the lender has asked for me (lodger) to sign a deed of consent to basically agree to move out if house needs to be repossessed. I am not too bother about that, as that's common practice by lenders, so I am happy to sign the deed as I am planning to move out over the next few months. Is there anything else I should consider? Otherwise I don't see a reason not to sign the document.

Brie

Are you renting the house from your friend? I've never heard of a tenant having to do this, not a lodger either. Maybe I've led a sheltered life.

But to me your contract is with your friend and your friend is the person that has (or will have) a contract with the bank. I'd say it wouldn't matter what you sign as it's no guarantee that you will leave no matter what happens.

Leakingtile79

Hello Brie,

Thanks for your reply. I never had to do it before neither, but this is due to remortgaging the house while having a lodger living there too.

user1977

It is normal (in England & Wales) where there are adult occupiers other than the borrowers at the time the mortgage is granted.

I suppose the obvious thing to point out is that if you start getting difficult about signing it, you'll probably need to find somewhere else to live quickly!

whizzywoo

I think it's fairly normal in England. Many years ago we remortgaged our family home and our adult son (aged 18) was still living at home. He had to sign one but not our daughter who was only 12.

poseidon1

List of lenders requiring over 17s to consent - its pretty much all the banks -

https://lendershandbook.ukfinance.org.uk/lenders-handbook/englandandwales/question-list/1956/