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Where Taxpayers and Advisers Meet

Preventing deed holder from taking out a mortgage

SwedenCL
Posts:4
Joined:Fri Jan 19, 2018 1:56 pm
Preventing deed holder from taking out a mortgage

Postby SwedenCL » Sat Jan 20, 2018 2:45 pm

Hi,

This might not be fully within the subject lines, but I think it is close enough. I am looking to lend money to my ex wife for the purchase of her house, mortgage free. In the following three options is any of them NOT fool proof in terms of preventing her from taking out a mortgage on the property without my approval?
- Legal charge
- Equity charge
- Declaration of trust

Thank you in advance.

/Christopher

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Preventing deed holder from taking out a mortgage

Postby bd6759 » Sat Jan 20, 2018 5:54 pm

That might solve your 3% problem, as long as you were only entitiled to your money back, and not a share of the proceeds.

A charge and restriction at the land registry would prevent a further mortgage, but you would really need to speak with a solicitor about that.

SwedenCL
Posts:4
Joined:Fri Jan 19, 2018 1:56 pm

Re: Preventing deed holder from taking out a mortgage

Postby SwedenCL » Sun Jan 21, 2018 10:59 am

Thank you for your help


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