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If there are any adults who do not own the property but who will be in occupation of property on completion of the mortgage, they will be asked to sign one of these documents.

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About Occupier's Consent

When a mortgage is taken out against a property the lender will always seek to ensure that their interest takes priority over that of any adults living at the property.

To ensure they have no issues repossessing and selling the property in the event that the mortgage is not paid, the lender will require an adult occupier to sign an agreement stating that any interest the occupier may have in the property will rank behind the interest of the lender.

This document is often referred to as an Occupier's Consent Deed or a Deed of Postponement.

There are many ways in which a person can acquire an interest in a property, even if they are not the owner. This is known as beneficial interest. An adult who lives in a property in which they also have a beneficial interest in may have a number of rights that could make it difficult for a lender to repossess the property.

Ways in which a person may acquire an interest in the property include:

  • Marriage

  • Common Intention Constructive Trusts - this is where unmarried parties intended that the non-owner would acquire a beneficial interest in the property and the non-owner acts to their detriment believing they are entitled to a share in the Property

  • Financial contributions - for example contributing towards the purchase price, mortgage repayments and costs of maintenance or improvement 

  • Proprietory estoppel - this is where the non-owner has acted to their detriment based on assurances by the owner that they have or will be given, an interest in the property

Any adult occupier who may have a beneficial interest in a property should think very carefully before entering into such agreements and in such circumstances we may be able to offer solutions to assist the occupier in protecting their interest.

If you have been advised to take Independent Legal Advice in relation to an Occupier's Consent Deed or a Deed of Postponement, please get in touch to see how we can assist. 

Book Now Occupier's Consent

£295

The price shown is for one person.

 

Where more than one person requires advice on the same documents an additional fee of £195 applies for each additional person.

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