Is it normal for a bank to seek this ...

[Henny Penny]

We are applying for a top up on our mortgage to use as a deposit on another house and the bank are seeking evidence of our continuing marraige signed by a commissioner of oaths before they give us the money. Is this normal? What next ... will they want evidence that we are both still alive?

 

[Hel_n]

Sounds unusual but if you look at it from their point of view they may just want to ensure that one of you is not 'paying the other off' by topping up your mortgage and in effect giving the other person a deposit towards a new house. They have to cover themselves by ensuring that you are still married.

 

[micamaca]

when I worked in a bank, they used to just look for a FHPA 2, a Family Home Declaration Act form signed by all title holders to say that you're both still married and are agree to further monies being borrowed on that property, everytime a top up was applied for, this form was required. ... this must be a new step! I'd query it, that sounds like hassle. Mind you, if it's now part of their lending criteria, not sure you can do much but threaten!

 

[mf1]

Its perfectly normal - the FHP Act 1976 says that there can be no disposition of the Family Home without the consent of a non owning spouse. Initially this was thought to affect only those cases where there was a non owning spouse but the practice is that for every disposition there has to be a declaration confirming whether or not the property is a family home. Does'nt matter if it's a Company , single person, widow, partnership, it ( in a number of varying forms) will normally be required to evidence the situation.

mf