Deed Of Consent

[sandypee]

My 17 year old grandson has been asked by his father to sign a deed of consent. He lives with his mother and has been estranged from his father for the past year. His father states he cannot complete his house purchase without this. Is this so?

[ubasses]

Probably, it is usually for over people over 18. All he is doing is agreeing that the interests of the Mortgage Company take precedence over any rights he has in the property now or in the future. The Mortgage Company can refuse to complete on the loan without it.

[Ratty2E]

My son had to do this as would be completing 3 days after his 17th birthday. I was under the impression it was because he was living in the property.

[Barquentine]

If he is not going to live at the property his father is purchasing there is no need to sign a Deed of Consent/Postponement. This is a document that is required by a mortgage lender when the borrower(s) will have a person over the age of 17 living at the property. That person can acquire rights of occupation which could stop the lender repossessing the property if the borrower falls into arrears on mortgage repayments. That is why the person sharing the property ‘postpones’ their rights behind those of the lender.

It makes no sense though if your grandson never sees his father and will not be living there. There would be no need for it.

Whose name is the mother’s house in? I assume it is in her sole name. When she wants to sell that house/flat, the buyer, will want a clause in the sale contract saying that anyone over 17 at the property agrees to the sale and they would also need to sign the contract to confirm they agree. So make sure that (if the house is actually in the father’s name) , it is not a sale contract your grandson is being asked to sign.