Elderly customer added to joint mortgage in error.

[CYNthesys]

Re: Elderly customer added to joint mortgage in error.

Just another thought, and I may be completely off track here. When mortgagor B stopped living in the property, would Mortgagor A have been entitled to SMI (support with mortgage interest) through DWP?

[leclerc]

Re: Elderly customer added to joint mortgage in error.

Cynthesis, if the mortgage was taken out for 25 years and the customer was 69 then they would be 94 when they would have it paid off. I think the age criteria and state of health of the person is absolutely crucial in the case.
Are the deeds to the property in both names?

[CYNthesys]

Re: Elderly customer added to joint mortgage in error.

Leclerc

Yes I agree the age and health is crucial.

Whilst my case is completely different, the legal charge to secure the business' overdraft and loan account was executed by my husband when he was nearly 66. Due to the business's insolvency the Bank insisted that the total borrowings be consolidated into a structured loan account when he was 69

[bluestar]

Re: Elderly customer added to joint mortgage in error.

Just another thought, and I may be completely off track here. When mortgagor B stopped living in the property, would Mortgagor A have been entitled to SMI (support with mortgage interest) through DWP?

Not as far as I'm aware.
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Cynthesis, if the mortgage was taken out for 25 years and the customer was 69 then they would be 94 when they would have it paid off. I think the age criteria and state of health of the person is absolutely crucial in the case.
Are the deeds to the property in both names?

I have not seen the deeds but if deeds reflect what is on record at the land registry then ys, both names will be on the deeds.

I understand that both names should be on the deeds as both persons have had put equity into the property.

I would like to understand why one person with no income and no hope of having any would be put on the loan.