Joint borrower, sole proprietor

[Nod69]

Hi
thanks in advance for any help.

In nutshell, I’ve agreed to be on a mortgage with my son in law because lenders won’t recognise my daughter, as she is on maternity and will be starting new job in a few months, for which she obviously hasn’t accumulated pay statements….I thought we lived in an enlightened society.

At the last minute the conveyancer states I’m required to sign a document in the presence of a solicitor, essentially to acknowledge my understanding of my role in proceedings. Is this a legal requirement? Can I not just sign a waiver or suchlike? I’ve discovered solicitors charge £250 minimum for this pointless task, which I can’t imagine takes up much of their time

[Pezza54]

Is this for a "Joint Borrower Sole Proprietor Mortgage" where you are going to be named on the mortgage but not on the deed?
Solicitors normally charge a nominal amount to witness signing of a document. The conveyancing solicitor may not charge any extra.
If the conveyancing solicitor's office is many miles from where you live, you could try phoning a few local solicitors to find out how much they charge

[atticus]

The fee is more than nominal because the solicitor needs to give advice and be satisfied that the person in question fully understands the commitment and risk, is not being coerced etc. The solicitor also takes on the risk of liability in respect of the advice given.

When I was in practice I charged more for this type of advice.

You may think it pointless, but the certificate signed by the solicitor is the document that will be conclusive against you if the lender needs to take any action against you as, effectively, guarantor of the loan. And, Pezza, this is not a simple case of witnessing a signature.

[des8]

wrong post sorry!

[Nod69]

Thanks for replies. Atticus, I appreciate that a solicitor has to be paid for time, particularly if they can be held liable. My issue is that I don’t want advice and don’t need it. I am being forced into it. I should be able to sign a waiver, or similar, to satisfy a court that I am fully aware of my responsibility/liability. After all, without evidence to impugn my mental capacity, criminal and civil courts would presume an ordinary level of competence. For example, I could bequeath my entire estate, of considerably greater value, without legal advice. I could also be imprisoned for the rest of my life, based on the presumption that I understood/ should have understood a law that I may have broken!

[atticus]

You may of course ask whether the lender will accept this. I suspect that you have been asked to obtain the independent advice as this is a requirement imposed by the lender.