Legal advise required....thanks

M

megapixel

Registered User
Messages
26
Hi my sister bought a house a few weeks ago.
She signed the contracts and the mortgage papers, however the banks had made a mistake and resend out the papers.
Problem was she got married in between and now they are telling her that her husband needs to be on the papers.

Is this true?
Reason he isn't on it in the first place is they have a site and will be building in a few years on it and they can borrrow more money if he isn't on this mortgage.

Any advise will be great...
 
He does not have to be on the mortgage.

However a loan offer is just an offer, not a contract, so the bank are within their rights to add further loan conditions if they want. The climate has changed with regard to loan offers with banks being much more careful about who they offer to and under what circumstances.

Legally there is nothing she can do about this.

A good broker could help with this type of case.
 
The lender probably only requires a Consent of Spouse form and possibly a Deed of Confirmation?

As the lender has now realised that she is married, she will have to comply with the loan offer.
 
If it's the house they are going to live in (even for a while), it's the family home within the meaning of the Family Home Protection Act, 1976 and unless he consents to the mortgage, it's voidable, so the bank is understandably worried about that as they effectively have no security for the loan.
There's no real way to get around it except to offer that the husband consent to the charge rather than actually charge the property in his own right.
 
You must log in or register to reply here.
Back
Top