Bridging Loans / Bridging Mortgages What is a Personal or Directors’ Guarantee? A Director’s personal guarantee is a commitment made by a company director to take personal responsibility for the repayment of a company’s debt. Essentially, if the company defaults on its obligations, the director becomes personally liable to repay the debt using their personal… Continue reading Bridging Loan / Bridging Mortgage
Declaration of Trust / Deed of Trust What is a Deed of Trust? In the UK, a Deed of Trust is a legal document that defines the ownership arrangement of a property when it is jointly purchased by two or more individuals, though not necessarily in equal shares. Also referred to as a Declaration of… Continue reading Declaration of Trust / Deed of Trust
Transfer of Equity What Is a Transfer of Equity? A Transfer of Equity involves changing the co-ownership status of a property. Common reasons to initiate a Transfer of Equity include: Adding your spouse to the property’s deed after marriage or remarriage Removing an ex-partner from the deed after divorce Adjusting the ownership shares among co-owners… Continue reading Transfer Of Equity
Occupier Waiver Form / Occupiers Consent to Mortgage Occupiers Consent to Mortgage An occupier waiver form is a legal document signed by an adult living in a property who is not the mortgage borrower. By signing, the occupier acknowledges that they will vacate the property if the mortgage lender repossesses it. Independent legal advice… Continue reading Occupiers Consent To a Mortgage
Joint Borrower Sole Proprietor Mortgage (JBSP) Joint Borrower Sole Proprietor (JBSP) mortgages are becoming increasingly popular as a way for family members to assist relatives in getting on the property ladder by acting as a co-borrower without owning the property. This arrangement can also save thousands in Stamp Duty Land Tax by avoiding the higher… Continue reading Joint Borrower Sole Proprietor (JBSP)
