UK Property Law
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Hello Laura my name is ***** ***** I will help you.
Have you rented it out yet please?
Ok - well a Deed of Postponement would be required as you are there at the moment.
This is quite normal, so dont worry about it. Usually its domestic residential mortgages only but if you are staying there they will want this for the time being.Can I clarify anything for you about this today please?
They dont have a right to remain for BtL because the Courts ends the tenancy agreement.
These are usual for residential mortgages for people living there who are not named on the mortgage
Does that clarify?
In reality nothing. It just means that they have rights over the property in the event of default.
Well this is for their benefit.
It may be there is an issue further down the line for other creditors, but this Deed is for the bankDoes that clarify?
Nothing more - yes