Mortgage Security-Advice

I took out a mortgage years ago, Sole Mortgage, 2 on title, my parent being other person on title. I have now received a letter from bank telling me there is an issue with this, but my solicitor would have been aware of this from the outset. Bank is now telling me that my parent either becomes joint borrower or guarantor. My parent is a pensioner and in bad health. There is no way she can qualify as a borrower or guarantor. I though signing a deed of weaver would cover this. Am worried now as am on a tracker mortgage. What are my options. Appreciate any advice. Thank You

Don't be bullied into this... see a sols if you can. What are the bank going to do.... nothing they can do. Their error at the start.

These sort of issues are popping up all over as the banks are reviewing each and every piece of security they hold. Their problem and dont be bullied

On a related matter, have you considered what you can do if in the unfortunate event that your parent becomes incapacitated and unable to sign any paperwork if you wanted to sell the house?

The reason I point this out is that I have a client in a situation like yours where the parent is incapacitated post a non-fatal stroke. Client needs to sell but cant

Thank You for your reply iscritto and hastalavista. I was thinking, that if relative signed a waver like deed of postponement of interest in the property or remove them from title altogether.

I'd sign nothing. The bank made a mistake and they want to change the initial agreement after the fact. Your parent did well by you first time round .... don't let them sign anything. Time to talk to your solicitor too!