When obtaining a mortgage, the owner of a property (the person named on the mortgage) will be asked by his lender if there will be any people who will be residing at the property on completion who won’t be named on the mortgage.
If this is the case, the lender will ask the borrower to have all additional occupiers sign a Deed of Consent or a Letter of Postponement (some lenders refer to the document differently but it effectively means the same thing). It is now a requirement of the Council of Mortgage Lenders (CML) for occupiers to obtain independent legal advice before executing a Deed, and before a borrower draws down a mortgage.
The firm of solicitors who are acting for the property owner/borrower will write to an occupier or proposed occupier asking them to obtain independent legal advice on the implications of signing a Deed of Consent and have their signature witnessed on the Deed by an independent solicitor. Some mortgage lenders don’t require that a signature is witnessed by the solicitor who is providing the independent legal advice even though the advice is mandatory. The solicitor who is acting for the borrower would confirm this, then you will know whether you can obtain the independent advice remotely.
In such circumstances, we can assist you, quite often on short notice. A solicitor who is acting on behalf of a lender would not be able to complete a mortgage until this has been seen to.
We can also assist you with independent legal advice relating to HSBC indirect mortgages, transfers of equity, adding debt onto your mortgage / secured loan, equity release, statutory declarations and we can complete, and certify ID1s for HM Land Registry where you wish to be unrepresented.
Please call us on 0207 183 0084 or email us on firstname.lastname@example.org for details on our fees and to book a mutually convenient appointment.
Ayesha Leslie, Partner
Ola Leslie Solicitors