• Power Of Attorney Mortgage

    By Guest on 19th May 2016

    We are trying to raise funds against a property to update it. The property has no current mortgage, and is valued £160K. We want to raise £25K, and repay over 5 years.My faether is on the deeds as owner, but is unfirm and mentally unfit. My mother has Power of Attourney over his affairs. The property is rente, and needs modification to meet current legislation. We have applied and reached a point of completion on a remortgage when it ihas been pointed out that my father is not on the application. Can we add his name, and continue to complete?

  • 1 Answers

    By Guest on 30/05/2016

    If your father is incapable of managing his own affairs then he can't mortgage the property in his own right and I don't believe an attorney can enter into a financial arrangement on behalf of the donee of the power, though I may be wrong. There is a group called "Solicitors for the Elderly" - you might be best finding a member solicitor who is local to you to get some advice. Sorry we couldn't be more helpful and I invite the thoughts of anyone else, but this is a niche area and you wouldn't want to make a mistake.

  • Post Your Answer


  • Do you want to be informed of further comments / replies? Yes No

Ask a Question

Search